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2020 Cash Mandatory Exchangeable Trust Due 6/01/2023
Ticker Symbol: CSHZZ* CUSIP: Unknown* Exchange: OTOTC * If you know the CUSIP number for this security, please let us know.
* NOTE: This security is no longer trading as of 6/01/2023
QUANTUMONLINE.COM SECURITY DESCRIPTION: 2020 Cash Mandatory Exchangeable Trust
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Go to Parent Company's Record (TMUS)
Notes: T-Mobile US, Inc. (NASDAQ: TMUS) (“T-Mobile”) today announced that the 2020 Cash Mandatory Exchangeable Trust, a Delaware statutory trust (the “Trust”), has priced the private offering of its 2020 Cash Mandatory Exchangeable Trust Securities (the “Trust Securities”) for an aggregate purchase price of $1,860,465,000 (the “Offering”). The Trust also granted the initial purchasers of the Trust Securities a 30-day option to purchase up to an additional $139,535,000 aggregate purchase price of the Trust Securities at the initial offering price less the initial purchaser discount. The Offering is expected to close on June 26, 2020, subject to satisfaction of customary closing conditions.
At the closing of the Offering, T-Mobile will sell 18,062,698 shares of its common stock (19,417,400 shares if the initial purchasers exercise in full their option to purchase additional Trust Securities) to the Trust. For 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.
The Trust will use a portion of the net proceeds from the Offering to purchase U.S. Treasury securities, which will fund quarterly distributions on the Trust Securities, and the holders of the Trust Securities will be entitled to a final mandatory exchange cash amount on June 1, 2023 that will depend on the daily volume-weighted average price of shares of T-Mobile common stock. A portion of the net proceeds of the Offering, together with a contingent right to receive on June 1, 2023 a number of shares of T-Mobile common stock based on the daily volume-weighted average price of shares of T-Mobile common stock, will be transferred to SoftBank.
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Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 12920 SE 38th Street, Bellevue, WA 98006 |
Main Phone Number |
425-378-4000 |
Fax Number |
Not Available |
Investor Relations
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425-378-4000
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Toll Free Phone Number |
877-281-8687 |
CEO - Mike Sievert |
CFO - Peter Osvaldik |
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