T-Mobile Announces Conversion of Mandatory Convertible Preferred Stock
December 13 2017 - 4:05PM
Business Wire
T-Mobile US, Inc. (NASDAQ: TMUS) (the “Company”) announced today
that all outstanding shares of its 5.50% Mandatory Convertible
Preferred Stock, Series A (the "Preferred Stock") will
automatically convert into shares of the Company’s Common Stock
(the “Common Stock”). As set forth in the Certificate of
Designations of the Preferred Stock (the “Certificate of
Designations”), the conversion will be effective at 5:00 p.m. New
York City time on December 15, 2017 (the "Mandatory Conversion
Date"). No action by holders of Preferred Stock is required. As of
September 30, 2017, the Company had 20,000,000 shares of Preferred
Stock outstanding.
On the Mandatory Conversion Date, each outstanding share of
Preferred Stock will automatically convert into 1.6119 shares of
Common Stock. The number of shares of Common Stock issuable on
conversion was determined as set forth in the Certificate of
Designations. The Company will pay cash in lieu of any fractional
share upon conversion.
Upon conversion, the Preferred Stock will no longer be
outstanding and all rights with respect to the Preferred Stock will
cease and terminate following receipt of the number of whole shares
of Common Stock issuable upon conversion of the Preferred Stock and
any required cash-in-lieu of fractional shares. Following
conversion, the Preferred Stock will be delisted from trading on
the NASDAQ Global Select Market.
The Company previously announced that a dividend payment of
$0.6875 per share of Preferred Stock, payable to holders of record
as of December 1, 2017, will be made on the Mandatory Conversion
Date. This dividend payment will be made in the customary
manner.
About T-Mobile US, Inc.
As America's Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is
redefining the way consumers and businesses buy wireless services
through leading product and service innovation. The Company’s
advanced nationwide 4G LTE network delivers outstanding wireless
experiences to 70.7 million customers who are unwilling to
compromise on quality and value. Based in Bellevue, Washington,
T-Mobile US provides services through its subsidiaries and operates
its flagship brands, T-Mobile and MetroPCS.
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Press Contact:T-Mobile US, Inc.Media
Relationsmediarelations@t-mobile.comhttp://newsroom.t-mobile.comorInvestor
Relations Contact:T-Mobile US, Inc.Nils Paellmann877-281-TMUS
or
212-358-3210investor.relations@t-mobile.comhttp://investor.t-mobile.com
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