SoftBank's $21.6 billion acquisition of Sprint officially completed.

Link: http://newsroom.sprint.com/news-releases/sprint-and-softbank-announce-completion-of-merger.htm

Fact Sheet on the new Sprint Corporation: http://newsroom.sprint.com/news-releases/fact-sheet-sprint-corporation.htm

Following completion of the merger with SoftBank Corp., here are some key facts:

Name of company: Sprint Corporation

Headquarters: The company’s headquarters will remain in Overland Park, Kansas.

Chief Executive Officer: Dan Hesse

Chairman of Sprint Corp. Board of Directors: Masayoshi Son, founder, Chairman and CEO of SoftBank

Vice Chairman: Ronald Fisher, director of SoftBank and president of SoftBank Holdings Inc.

Additional Board members:

  • Dan Hesse will serve on the board of directors.
  • Admiral Michael G. Mullen, Former Chairman, Joint Chiefs of Staff, has been named to the Sprint Corporation board of directors as Security Director.
  • Robert Bennett, Gordon Bethune and Frank Ianna, who are currently members of the Sprint board, will also serve on the Sprint Corporation board of directors.
  • SoftBank and Sprint have not yet determined the remaining members of the Sprint Corporation board of directors.
Merger:
  • SoftBank has invested approximately $21.6 billion in Sprint, consisting of approximately $16.6 billion to be distributed to Sprint stockholders and an aggregate $5 billion of new capital ($1.9 billion at closing) to strengthen Sprint’s balance sheet.
  • SoftBank will own approximately 78 percent (calculated on a fully diluted basis).
  • As a result of the transaction, the ownership of current Sprint equityholders will be approximately 22 percent (calculated on a fully diluted basis).
  • Sprint Corporation will be listed and traded on the New York Stock Exchange under the ticker symbol, “S”.
Sprint:
  • Sprint served more than 55 million customers at the end of the first quarter of 2013.
  • Operates wireless and wireline networks to serve consumer and business customers.
  • Sprint is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States.
  • Sprint continues to operate leading prepaid brands such as Virgin Mobile USA, Boost Mobile, and Assurance Wireless.
  • The American Customer Satisfaction Index rated Sprint as the most improved company in customer satisfaction, across all 47 industries, during the last five years.
  • Newsweek ranked Sprint No. 3 in both its 2011 and 2012 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company.
SoftBank:
  • SoftBank was established in 1981 by its current Chairman & CEO Masayoshi Son and has based its business growth on the Internet. It is currently engaged in various businesses in the information industry, including mobile communications, broadband services, fixed-line telecommunications, and portal services.