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AI brief of an SEC Form 8-K · Telephone and Data Systems (TDS)

TDS unit Array closes $1.0 billion spectrum sale to Verizon

Positive Impact 4 of 5 m&a Written later

Array Digital Infrastructure, a subsidiary of Telephone and Data Systems (TDS), completed the sale of select spectrum assets to Verizon on June 1, 2026, receiving $1.0 billion in cash. The same day, Array's board declared a special cash dividend of $11.00 per share, payable to holders of its common and Series A common stock, which gives TDS a cash distribution from the sale proceeds.

Key points

  • Array received a $1.0 billion cash purchase price at the closing of the spectrum sale to Verizon, under a License Purchase Agreement dated October 17, 2024.
  • Array declared a special cash dividend of $11.00 per share on June 1, 2026.
  • Record date is June 11, 2026, and the payment date is scheduled for June 25, 2026.
  • As of June 1, 2026, TDS held 33,005,877 Series A shares and 37,782,826 common shares of Array.

The filing

CompanyTelephone and Data Systems (TDS)
Form8-K, current report
Filed with the SECJun 1, 2026, 4:11 PM ET
Accession number0001051512-26-000055

Items reported: 2.01 Acquisition or Disposition Completed8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 01, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.