Array Digital Infrastructure today announced the closing of its agreement with AT&T to divest a portion of its retained wireless spectrum licenses for total consideration of $1.018 billion. This transaction achieves the objective set out on May 28, 2024, to monetize spectrum assets not included in the T-Mobile deal that closed on August 1, 2025. The proceeds bolster Array’s balance sheet and fund shareholder returns without increasing debt levels.

Following the transaction’s close, Array’s Board of Directors declared a special cash dividend of $10.25 per Common Share and Series A Common Share, payable February 2, 2026 to holders of record as of January 23, 2026. The company expects that the dividend will be largely designated as an ordinary and qualified distribution on shareholders’ 1099-DIV forms, subject to individual holding periods and taxable income calculations.

The spectrum sale aligns with Array’s strategy to opportunistically monetize non-core assets and optimize its asset portfolio. CEO Anthony Carlson emphasized that the transaction generates significant value for investors while enabling the company to concentrate on its core cell-tower operations—over 4,400 towers nationwide—and to pursue future growth initiatives in 5G infrastructure deployment.

Citigroup Global Markets served as lead financial advisor, with Centerview Partners, TD Securities (USA) and Wells Fargo providing additional financial counsel. Wilkinson Barker Knauer led transactional and FCC regulatory matters, supported by Clifford Chance and Sidley Austin on regulatory and legal issues. PJT Partners acted as financial advisor to Array’s independent directors, with Cravath, Swaine & Moore advising on legal governance, ensuring comprehensive advisory coverage throughout the sale process.