ARRAY DIGITAL INFRASTRUCTURE, INC. Material Event - What Happened

Hey there! Let's break down what's going on with ARRAY DIGITAL INFRASTRUCTURE, INC. in a way that makes sense, without all the fancy finance talk. Think of this as me explaining it to you over a coffee.

---

1. What happened? (in plain English - the actual event)

Okay, so here's the big news: ARRAY DIGITAL INFRASTRUCTURE, INC. (which used to be called United States Cellular Corporation – that's a mouthful, so let's just call them Array) just completed a major sale! They sold some of their valuable "spectrum assets" – think of these as the airwaves or frequencies that wireless companies use to make your phones and devices work – to AT&T (officially, New Cingular Wireless PCS, LLC). This deal brought in a lot of cash for Array.

And because they got all that cash, Array's Board of Directors also announced a special cash dividend for its shareholders!

2. When did it happen?

The big sale officially closed on January 13, 2026. This is also the day Array announced the special dividend. The original agreement to sell these assets was actually made quite a while ago, on November 6, 2024. The official announcement about the closing and the dividend came out in a press release and a regulatory filing on January 13, 2026.

3. Why did it happen? (context and background)

So, why did this happen? Well, Array has been undergoing a significant transformation. Their name change from "United States Cellular Corporation" to "ARRAY DIGITAL INFRASTRUCTURE, INC." tells us they're shifting their focus from being primarily a cellular service provider to a broader digital infrastructure company. Selling off these specific spectrum assets to AT&T is a big part of that strategic shift.

By selling these assets, Array received a whopping $1.018 billion in cash. This cash infusion allows them to do a few things: first, it provides capital for their new strategic direction in digital infrastructure. Second, it allows them to return a significant amount of money directly to their shareholders through that special dividend. It's a way for them to streamline their business and reward investors.

4. Why does this matter? (impact and significance)

Alright, so why should you care? This isn't just some small update.

• For Array's future: Selling these assets means Array is shedding a part of its old business to focus on its new identity as a digital infrastructure company. This could really change how Array makes money in the future and what kind of services they offer.
• For shareholders: The special dividend is a direct and immediate benefit. Getting $10.25 per share in cash is a pretty big deal and a nice payout for those who own Array's stock.
• For the market: A billion-dollar asset sale and a special dividend are significant events that will definitely get the attention of investors and analysts. It signals a clear direction for the company.

5. Who is affected? (employees, customers, investors, etc.)

Who's going to feel this?

• For ARRAY's employees: The company didn't provide much detail about direct impacts on employees from this particular sale in their filing. However, a strategic shift like this could mean new opportunities in digital infrastructure or a refocusing of roles over time.
• For their customers: If you were a customer of United States Cellular Corporation, this sale of spectrum to AT&T might not directly impact your service with Array immediately, especially if Array is moving away from being a direct cellular provider. AT&T, on the other hand, gains these airwaves, which could potentially enhance their network in certain areas.
• For us, the investors/traders: This is huge!
  • You're getting a $10.25 per share special cash dividend if you own Array's common stock and are a shareholder of record by January 23, 2026. That's a direct return on your investment.
  • The company's asset base has changed significantly, and it now has a lot of cash. This changes the long-term outlook for the company, making it potentially more attractive to investors looking for a company with a clear new direction and strong cash position, or less attractive if they preferred the old business model.
• Competitors: Other companies in the digital infrastructure space will definitely be watching Array's strategic moves closely, especially with this cash infusion. AT&T benefits directly from acquiring the spectrum.

6. What happens next? (immediate and future implications)

So, what's on the horizon?

• Immediately: The most immediate next step is the special dividend payment. If you're an eligible shareholder, you can expect to receive that cash on February 2, 2026. We'll also likely see analysts weighing in with their opinions on Array's new strategy and what they plan to do with their remaining business and cash.
• In the longer run: This could lead to Array becoming a stronger player in the digital infrastructure space, leveraging its new focus and cash reserves. Investors will be looking for more details on Array's future plans, how they'll deploy their capital, and how their new business model will generate revenue and profits. Keep an eye out for their next earnings call for more details on their strategic vision.

7. What should investors/traders know? (practical takeaways)

Okay, for those of us watching the stock:

• Get that dividend: If you own Array's common stock, make sure you understand the record date (January 23, 2026) to be eligible for the $10.25 per share special cash dividend.
• Understand the shift: This isn't just a small transaction; it's a major strategic pivot for Array. They've sold off a core asset from their previous business. This means the company you're investing in is fundamentally changing.
• Do your homework: Take some time to look into what this new "digital infrastructure" focus really means for Array's financials, their market position, and their future plans. What will their main business be now? How will they compete?
• Consider your own strategy: If you're a long-term investor, this could be a growth opportunity in a new sector, or a reason to re-evaluate if their new direction aligns with your investment goals. If you're a day trader, watch for increased volatility around the dividend dates and as the market digests Array's new strategy.
• Stay tuned: Things can change quickly in the market, so keep an eye on the news and the stock price. More details will likely emerge over time about Array's path forward.