UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.02. | Unregistered Sales of Equity Securities. |
In connection with the closing of the TracFone Transaction (as defined below under Item 8.01), Verizon Communications Inc. (“Verizon”) issued 57,596,544 shares of its common stock, par value $0.10 per share (the “Acquisition Shares”), to AMX USA Holding, S.A. de C.V., a Sociedad Anónima de Capital Variable organized under the laws of Mexico (“AMX USA”), as partial consideration for the TracFone Transaction. The Acquisition Shares were issued to AMX USA without registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on the private offering exemption provided by Section 4(a)(2) thereof, pursuant to AMX USA’s status as an “accredited investor,” as such term is defined in Rule 501 under the Securities Act.
In connection with such issuance, Verizon entered into a registration rights agreement with AMX USA pursuant to which Verizon agreed to file within one business day following the Closing Date (as defined below) an automatic shelf registration statement under the Securities Act to permit the resale of the Acquisition Shares by AMX USA, subject to the terms and conditions therein.
Item 8.01. | Other Events. |
On November 23, 2021 (the “Closing Date”), Verizon completed its previously announced acquisition (the “TracFone Transaction”) of TracFone Wireless, Inc., a Delaware corporation (“TracFone”), in accordance with the stock purchase agreement (the “Stock Purchase Agreement”), dated September 13, 2020, by and among Verizon, América Móvil, S.A.B. de C.V., a Sociedad Anónima Bursátil de Capital Variable organized under the laws of Mexico, and AMX USA.
The purchase price paid by Verizon consists of cash consideration of $3.125 billion subject to customary adjustments, the Acquisition Shares and up to an additional $650 million in future cash consideration related to the achievement of certain performance measures and other commercial arrangements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
VERIZON COMMUNICATIONS INC. | ||
(Registrant) | ||
By: | /s/ William L. Horton, Jr. | |
Name: | William L. Horton, Jr. | |
Title: | Senior Vice President, Deputy General Counsel and Corporate Secretary | |
Date: November 23, 2021 |
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