T-Mobile prices shares at $103 in Softbank divestment

Wednesday, 24. June 2020 08:02

T-Mobile US Inc. announced on Wednesday that it priced its shares at $103 in a sale that will enable Softbank to divest its part of the US wireless carrier.

The 18,062,698 million stocks offered will be sold to the 2020 Cash Mandatory Exchangeable Trust. The number of shares could increase if initial buyers use their right to purchase more shares. "or every share of common stock sold by T-Mobile to the Trust, T-Mobile has agreed to repurchase one share of common stock from a subsidiary of SoftBank Group Corp. (“SoftBank”) for consideration equivalent to that received by T-Mobile in its sales. Consequently, the Offering will not involve gain or loss to T-Mobile and will not affect the number of outstanding shares of T-Mobile common stock or T-Mobile’s capitalization, T-Mobile added."

T-Mobile shares ended Tuesday's session at $107.16.

Related Links: Softbank Group CorporationT-Mobile US, Inc.
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