• SoftBank Group experienced a significant surge, rising as much as 7% in Tokyo, following its acquisition of approximately $7.6 billion worth of T-Mobile US Inc. stock. This move is a result of an agreement established during the merger of T-Mobile and SoftBank-owned Sprint Corp. in 2020. SoftBank is set to receive 48,751,557 T-Mobile US shares at no additional cost, meeting conditions specified in the landmark deal.

• As part of the agreement, SoftBank benefits from T-Mobile shares if the trailing 45-day VWAP (a stock’s valuation measure) equals or exceeds $150 from the second anniversary of the deal until the end of 2025. This stock infusion is poised to enhance SoftBank’s balance sheet, offering potential access to new capital. The Sprint-T-Mobile merger, valued at around $37 billion, marked one of the largest deals in the industry. SoftBank's recent capital-raising efforts align with its proactive investment strategy, anticipating favorable market conditions in 2024.