Additional Purchases of Sprint Corporation Shares
August 13, 2015
SoftBank Group Corp.
SoftBank Group Corp. (“the Company”), has purchased additional shares (“Additional Purchases”) of Sprint Corporation (“Sprint”), a subsidiary located in the U.S., through a wholly-owned U.S. subsidiary of the Company as stated below.
1. Outline of Additional Purchases
|(1) Investing company||Galaxy Investment Holdings, Inc.
(a wholly-owned subsidiary of the Company)
|(2) Number of shares purchased||22,873,301 shares
(Share of outstanding shares of Sprint common stock: 0.58%*1)
|(3) Purchase date||From Aug. 10, 2015 to Aug. 12, 2015 (EDT)|
|(4) Aggregate purchase price||USD 86,911,576.12 (approx. JPY 10.86 bn)*2|
|(5) Number of shares held by the Company after Additional Purchases||3,173,958,465 shares
(Share of outstanding shares of Sprint common stock: 79.99%*1)
2. Purpose of Transaction
The Additional Purchases are intended to increase the Company's beneficial ownership in Sprint. Galaxy Investment Holdings, Inc. (a Delaware corporation) intends to acquire outstanding shares of Sprint common stock in compliance with Rule 10b-18 (Safe Harbor Rule) of the Securities Exchange Act of 1934, as amended. The Company does not intend to increase its ownership of Sprint outstanding common stock to 85% or more as a result of these Additional Purchases.
The Company has dedicated significant resources to optimizing Sprint's network strategy and is supporting the development of innovative lease financing structures. In light of these and other turnaround initiatives, the Company is confident in Sprint's future prospects, and therefore decided to carry out the Additional Purchases.
- *1Based on the outstanding Sprint common stock as set forth in Sprint's Quarterly Report on Form 10-Q, filed with the U.S. Securities and Exchange Commission on Aug. 7, 2015 (EDT). This does not include the shares of Sprint common stock underlying the warrant issued by Sprint to the Company's U.S. subsidiary Starburst Ⅰ, Inc. dated July 10, 2013.
- *2Exclusive of any fees, commissions or other expenses. Converted at USD 1 = JPY 125
This material was prepared based on information available and views held at the time it was made. Statements in this material that are not historical facts, including, without limitation, plans, forecasts and strategies are “forward-looking statements”.
Forward-looking statements are by their nature subject to various risks and uncertainties, including, without limitation, a decline in general economic conditions, general market conditions, technological developments, changes in customer demand for products and services, increased competition, risks associated with international operations, and other important factors, each of which may cause actual results and future developments to differ materially from those expressed or implied in any forward-looking statement.
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