Press release
T-Mobile Announces Closing of $2,034,250,000 Over-Subscribed Rights Offering
BELLEVUE, Wash.--(BUSINESS WIRE)-- T-Mobile US, Inc. (NASDAQ: TMUS) (“T-Mobile”) today announced the closing of its highly successful, over-subscribed rights
About this update from T-mobile Us, Inc.
[{"type":"text","content":" BELLEVUE, Wash.--(BUSINESS WIRE)--\nT-Mobile US, Inc. (NASDAQ: TMUS) (“T-Mobile”) today announced the closing of its highly successful, over-subscribed rights offering. The rights offering is being executed in connection with SoftBank Group Corp.’s (“SoftBank”) monetization of its shareholding in T-Mobile’s common stock as disclosed in their Schedule 13D/A filed on June 15, 2020. At the closing, the Company delivered an aggregate of 19,750,000 shares of common stock at the subscription price of $103.00 per share for total gross proceeds of approximately $2,034,250,000. Pursuant to the terms of the rights offering, 17,702,739 shares of common stock were purchased pursuant to the exercise of basic subscription rights and 2,047,261 shares of common stock were purchased under the over‑subscription right.\n\n\nT-Mobile has used the net proceeds that it received from the exercise of the subscription rights issued in the rights offering to repurchase an equivalent amount of issued and outstanding shares of T-Mobile common stock from a subsidiary of SoftBank. Consequently, the rights offering did not involve gain or loss to T-Mobile and did not affect the number of outstanding shares of T-Mobile common stock or T-Mobile’s capitalization.\n\n\nInvestors who have participated in the rights offering should expect to see the shares of common stock delivered to them in book-entry or, uncertificated, form. Any excess subscription payments received by American Stock Transfer & Trust Company, LLC (the “subscription agent”) will be returned by the subscription agent to investors, without interest or deduction.\n\n\nCautionary Statement Regarding Forward-Looking Statements\n\n\nThis communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including information concerning plans, expectations and intentions with respect to securities offerings and transactions, are forward-looking statements. These forward-looking statements are generally identified by the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “could” or similar expressions. Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties and may cause actual results to differ material...