EX-99.1 2 ad8-k2026verizonex991.htm EX-99.1 Document Exhibit 99.1 Array completes sale of select spectrum assets to Verizon for $1.0 billion Board declares special dividend of $11.00 per share CHICAGO (June 1, 2026) - Array Digital Infrastructure, Inc. (NYSE: AD) (ArraySM) today announced the successful closing of the previously announced agreement with Verizon (NYSE: VZ) to sell a portion of the Company’s retained spectrum licenses for total consideration of $1.0 billion. Additionally, certain spectrum sales to T-Mobile totaling $168M, primarily related to 700MHz and 600MHz, were completed in May. These transactions further the objective announced on May 28, 2024, to opportunistically monetize remaining spectrum following the sale of the T-Mobile wireless operation which closed on August 1, 2025. Considering the closing of the Verizon and other transactions alongside current cash on hand, the Array Board of Directors has declared a special cash dividend of $11.00 per Common Share and Series A Common Share. The special dividend is payable on June 25, 2026, to shareholders of record on June 11, 2026. While future dividend declarations are subject to the Board’s discretion…
Open exhibit ↗Current Report · Items 2.01, 8.01, 9.01 · 8-K
Array Digital Infrastructure, Inc.
ADNYSEEQUITYCurrent
Completion of Acquisition or Disposition of Assets · Other Events
Item 2.01. Completion of Acquisition or Disposition of Assets On June 1, 2026, Array Digital Infrastructure, Inc. (f/k/a United States Cellular Corporation) (“Array”) and certain subsidiaries of Array completed the previously announced sale of select spectrum assets to Verizon Communications Inc.…
Company context
Array Digital Infrastructure, Inc. is a leading owner and operator of shared wireless communications infrastructure in the United States. Array owns 4,456 cell towers in 19 states and enables the deployment of 5G and other wireless technologies throughout the country. As of June 30, 2026, Telephone and Data Systems, Inc. owned approximately 81.9% of Array.
Current securities
Disclosure sections
Item 2.01Item 2.01 - Completion of Acquisition
Item 2.01.
Completion of Acquisition or Disposition of Assets
On June 1, 2026, Array Digital Infrastructure, Inc. (f/k/a United States Cellular Corporation) (“Array”) and certain subsidiaries of Array completed the previously announced sale of select spectrum assets to Verizon Communications Inc. (“Verizon”), pursuant to the terms of that certain License Purchase Agreement, dated as of October 17, 2024, by and among Array, certain subsidiaries of Array named therein and Verizon (the “Closing”).
The purchase price received by Array at the Closing was $1.0 billion, paid in cash.
Item 8.01Item 8.01 - Other Events
Item 8.01.
Other Events
Array Special Dividend
On June 1, 2026, the Board of Directors of Array declared a special cash dividend to holders of Array’s Common Stock and holders of Array’s Series A Common Stock of $11.00 per share payable in cash to the stockholders of record as of June 11, 2026. The payment date in respect of the dividend is scheduled for June 25, 2026.
Press Release
On June 1, 2026, Array issued a press release announcing the Closing and related matters. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 8.01 in this Current Report on Form 8-K by reference.