Array Digital Infrastructure (AD) Completes the Sale of Spectrum License to Verizon
Key takeaways
- Recently, on June 1, Array Digital Infrastructure, Inc.
- Management noted that these transactions are part of the company's broader strategy, announced in May 2024.
- Separately, the Board's special committee is still evaluating a non-binding acquisition proposal from Telephone and Data Systems, though no decision has been made.
Recently, on June 1, Array Digital Infrastructure, Inc. (NYSE:AD) announced completing the sale of a portion of its spectrum license to Verizon for $1.0 billion. This follows a separate spectrum sale to T-Mobile for $168 million, covering 700MHz and 600MHz bands in May.
Management noted that these transactions are part of the company's broader strategy, announced in May 2024. As per this strategy, the company plans to monetize remaining spectrum assets following the sale of its T-Mobile wireless operations, which closed in August 2025.
The sale followed a special cash dividend announcement from the Board of Directors of $11 per share, payable June 25, 2026, to shareholders of record as of June 11, 2026. The CEO of Array Digital, Anthony Carlson, called the transactions a significant milestone and reaffirmed the company's commitment to returning value to shareholders through asset sale proceeds.