EXPLANATORY NOTE
This Amendment No. 13 (this “Schedule 13D Amendment”) is being filed jointly on behalf of SoftBank Group Corp., a Japanesekabushiki kaisha(“SoftBank”), Starburst I, Inc., a Delaware corporation and an indirect wholly owned subsidiary of SoftBank (“Starburst”) and Galaxy Investment Holdings, Inc., a Delaware corporation and an indirect wholly owned subsidiary of SoftBank (“Galaxy”) with respect to Sprint Corporation, a Delaware corporation (referred to herein as “Sprint” or the “Issuer”). This Schedule 13D Amendment amends the Schedule 13D filed on October 25, 2012, as amended on April 22, 2013 and June 11, 2013, as amended and restated on July 12, 2013, as amended on August 6, 2013 and August 27, 2013, as amended and restated on September 18, 2013, as amended on August 19, 2015, August 28, 2015, September 30, 2015 and December 29, 2017, as amended and restated on April 30, 2018, and as amended on July 12, 2018 (as amended and/or restated from time to time, the “Schedule 13D”), which relates to the common stock of Sprint, par value $0.01 per share (“Sprint Common Stock”).
Other than as set forth below, all Items in the Schedule 13D are materially unchanged. Capitalized terms used herein which are not defined herein have the meanings given to them in the Schedule 13D.
Item 2. | Identify and Background. |
Item 2 of the Schedule 13D is hereby amended such that all references toAppendices A-1, A-2 and A-3 contained within Item 2 shall refer to the Appendices included in this Schedule 13D Amendment.
Item 4. | Purpose of Transaction. |
Item 4 of the Schedule 13D is hereby amended to include the following:
“On July 26, 2019, Sprint and the other parties to the Business Combination Agreement (as defined below) entered into Amendment No. 1 (the “Amendment”) to the Business Combination Agreement (the “Business Combination Agreement”), dated as of April 29, 2018, by and among Sprint,T-Mobile US, Inc., a Delaware corporation (“T-Mobile”), Huron Merger Sub LLC, a Delaware limited liability company and a wholly owned subsidiary ofT-Mobile (“T-Mobile Merger Company”), Superior Merger Sub Corp., a Delaware corporation and a wholly owned subsidiary ofT-Mobile Merger Company, Starburst, Galaxy and for the limited purposes set forth therein, Deutsche Telekom AG, an Aktiengesellschaft organized and existing under the laws of the Federal Republic of Germany, Deutsche Telekom Holding B.V., a besloten vennootschap met beperkte aansprakelijkheid organized and existing under the laws of the Netherlands, and SoftBank.
The Amendment extends the Outside Date (as defined in the Business Combination Agreement) to November 1, 2019, or, if the Marketing Period (as defined in the Business Combination Agreement) has started and is in effect at such date, then January 2, 2020. The Amendment also provides that the closing of the Merger Transactions (as defined in the Business Combination Agreement) will occur on the first business day of the first month (other than the third month of any calendar quarter) where such first business day is at least three business days following the satisfaction or waiver of all of the conditions to the closing of the Merger Transactions, or, if the Marketing Period has not ended at the time of such satisfaction or waiver, the closing shall occur on the earlier of (a) any date during or after the Marketing Period specified byT-Mobile (subject to the consent of Sprint to the extent such date falls after the Outside Date) or (b) the first business day of the first month (other than the third month of any calendar quarter) where such first business day is at least three business days following the final day of the Marketing Period. The Amendment also modifies the Business Combination Agreement so as to limit the actions the parties may be required to undertake or agree to in order to obtain any remaining governmental consents or avoid an action or proceeding by any governmental entity in connection with the Merger Transactions, recognizing the substantial undertakings already agreed to by the parties, including the transactions contemplated by that certain Asset Purchase Agreement, dated as of July 26, 2019 by and among Sprint,T-Mobile and DISH Network Corporation.
The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to a copy of the Amendment, which is filed as Exhibit 99.15 hereto and is incorporated herein by reference.”
Item 5. | Interest in Securities of the Issuer. |
Item 5(a), (b) and (c) of the Schedule 13D are hereby amended and restated in their entirety to read as follows:
“(a)-(b) As of July 25, 2019, each Reporting Person may be deemed to have beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) and shared power to vote or direct the vote of up to the number of shares of Sprint Common Stock set forth in the table below and the Reporting Persons may be deemed to constitute a “group” under Section 13(d) of the Exchange Act as described in Item 2 of this Schedule 13D, which is incorporated herein by reference.
| | | | | | | | |
Reporting Person | | Shares of Sprint Common Stock Such Reporting Person May Be Deemed to Beneficially Own | | | Percent of Voting Power of Sprint Common Stock(1) | |
SoftBank Group Corp. | | | 3,445,374,483 | (2) | | | 84.22 | % |
Starburst I, Inc. | | | 3,131,105,447 | (3) | | | 76.54 | % |
Galaxy Investment Holdings, Inc. | | | 314,269,036 | (4) | | | 7.68 | % |
(1) | The respective percentages of beneficial ownership are based on 4,090,807,600 outstanding shares of Sprint Common Stock as set forth in Sprint’s Annual Report on Form 10-K, filed with the Commission on May 29, 2019. |
(2) | Consists of 3,131,105,447 shares of Sprint Common Stock held directly by Starburst, and 314,269,036 shares of Sprint Common Stock held directly by Galaxy. |
(3) | Consists of 3,131,105,447 shares of Sprint Common Stock held directly by Starburst. Starburst expressly disclaims beneficial ownership with respect to the shares of Sprint Common Stock deemed to be beneficially owned by SoftBank and Galaxy, except to the extent of Starburst’s direct pecuniary interest in the shares of Sprint Common Stock directly beneficially owned by Starburst. |
(4) | Consists of 314,269,036 shares of Sprint Common Stock held directly by Galaxy. Galaxy expressly disclaims beneficial ownership with respect to the shares of Sprint Common Stock deemed to be beneficially owned by SoftBank and Starburst, except to the extent of Galaxy’s direct pecuniary interest in the shares of Sprint Common Stock directly beneficially owned by Galaxy. |
(c) None of (i) the Reporting Persons and, (ii) to the Reporting Persons’ knowledge, the persons set forth on Appendix A-1, A-2 or A-3 of this Schedule 13D has effected any transaction in Sprint Common Stock during the past 60 days.”
Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. |
Item 6 of the Schedule 13D is hereby amended to include the following:
“The information set forth in Item 4 of this Schedule 13D Amendment is incorporated herein by reference.”
Item 7. | Material to be Filed as Exhibits. |
Item 7 of the Original 13D is hereby amended by adding Exhibit 99.15 as follows:
| | |
“99.15 | | Amendment No.1, dated as of July 26, 2019, to the Business Combination Agreement, dated as of April 29, 2018, by and amongT-Mobile US, Inc., Huron Merger Sub LLC, Superior Merger Sub Corporation, Sprint Corporation, Starburst I, Inc., Galaxy Investment Holdings, Inc., and for the limited purposes set forth therein, Deutsche Telekom AG, Deutsche Telekom Holding B.V. and SoftBank Group Corp. (incorporated by reference to Exhibit 2.2 of the Current Report on Form8-K, filed by Sprint Corporation on July 26, 2019).” |