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Title: |
Stock Purchase Agreement |
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Date: |
2000 |
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Preview shows 11KB of 57KB total |
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Price: |
$37 |
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ID: |
#1358093 |
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STOCK PURCHASE AGREEMENT
BETWEEN
POWERTEL, INC.
AND
SONERA HOLDING B.V.
DATED AS OF MAY 30, 2000
<PAGE> 2
TABLE OF CONTENTS
<TABLE>
<S> <C>
ARTICLE I DEFINITIONS..............................................................................1
SECTION 1.1 Certain Defined Terms.........................................................1
ARTICLE II PURCHASE AND SALE........................................................................4
SECTION 2.1 Purchase and Sale of the Shares...............................................4
SECTION 2.2 Purchase Price................................................................4
SECTION 2.3 Closing.......................................................................4
SECTION 2.4 Closing Deliveries by the Seller..............................................4
SECTION 2.5 Closing Deliveries by the Purchaser...........................................4
ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE SELLER.............................................5
SECTION 3.1 Organization, Authority and Qualification of the Seller.......................5
SECTION 3.2 Capitalization of the Seller..................................................5
SECTION 3.3 Subsidiaries..................................................................5
SECTION 3.4 No Conflict...................................................................5
SECTION 3.5 Seller SEC Reports; Financial Statements......................................6
SECTION 3.6 Private Placement.............................................................6
SECTION 3.7 Brokers.......................................................................7
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE PURCHASER..........................................7
SECTION 4.1 Organization and Authority of the Purchaser...................................7
SECTION 4.2 Investment Purpose............................................................7
SECTION 4.3 Accredited Investor...........................................................7
SECTION 4.4 Brokers.......................................................................7
ARTICLE V ADDITIONAL AGREEMENTS.....................................................................7
SECTION 5.1 Regulatory and Other Authorizations; Notices and Consents.....................7
SECTION 5.2 Notice of Developments........................................................8
SECTION 5.3 Registration Rights...........................................................8
SECTION 5.4 Resale Restrictions...........................................................9
SECTION 5.5 Registration of Shares........................................................9
SECTION 5.6 Certain Information...........................................................9
SECTION 5.7 Use of Funds..................................................................9
SECTION 5.8 Further Action................................................................9
ARTICLE VI CONDITIONS TO CLOSING....................................................................9
SECTION 6.1 Conditions to Obligations of the Seller.......................................9
SECTION 6.2 Conditions to Obligations of the Purchaser...................................10
ARTICLE VII SURVIVAL................................................................................11
SECTION 7.1 Survival of Representations and Warranties...................................11
ARTICLE VIII TERMINATION AND WAIVER..................................................................12
SECTION 8.1 Termination..................................................................12
SECTION 8.2 Right of Cure................................................................13
SECTION 8.3 Effect of Termination........................................................13
SECTION 8.4 Waiver.......................................................................13
</TABLE>
i
<PAGE> 3
<TABLE>
<S> <C>
ARTICLE IX GENERAL PROVISIONS......................................................................14
SECTION 9.1 Expenses.....................................................................14
SECTION 9.2 Notices......................................................................14
SECTION 9.3 Public Announcements.........................................................15
SECTION 9.4 Headings.....................................................................15
SECTION 9.5 Severability.................................................................15
SECTION 9.6 Entire Agreement.............................................................15
SECTION 9.7 Assignment...................................................................15
SECTION 9.8 No Third Party Beneficiaries.................................................16
SECTION 9.9 Amendment....................................................................16
SECTION 9.10 Governing Law................................................................16
SECTION 9.11 Counterparts.................................................................16
SECTION 9.12 Specific Performance.........................................................16
</TABLE>
ii
<PAGE> 4
This STOCK PURCHASE AGREEMENT, dated as of May 30, 2000, is entered
into between POWERTEL, INC., a Delaware corporation (the "Seller"), and SONERA
HOLDING B.V., a company organized under the law of the Netherlands (the
"Purchaser").
W I T N E S S E T H:
WHEREAS, the Seller wishes to issue and to sell to the Purchaser, and
the Purchaser wishes to purchase from the Seller, shares of the Seller's Common
Stock, par value $0.01 per share, upon the terms and subject to the conditions
set forth herein;
NOW, THEREFORE, in consideration of the premises and the mutual
agreements and covenants hereinafter set forth, the Purchaser and the Seller
hereby agree as follows:
ARTICLE I
DEFINITIONS
SECTION 1.1 Certain Defined Terms. As used in this Agreement, the
following terms shall have the following meanings:
"Action" means any claim, action, suit, arbitration, inquiry,
proceeding or investigation by or before any Governmental Authority.
"Affiliate" means, with respect to a party hereto, any corporation or
other business entity which directly or indirectly through stock ownership or
other arrangement controls, is controlled by or is under common control with
such party.
"Aggregate Purchase Price" has the meaning specified in Section 2.2.
"Agreement" or "this Agreement" means this Stock Purchase Agreement,
dated as of May 30, 2000, between the Seller and the Purchaser (including the
Annex hereto) and all amendments hereto made in accordance with the provisions
of Section 9.9.
"Assets" means the properties, assets (including, without limitation,
Licenses) and contract rights used in the conduct of the Business or otherwise
owned, leased or used by the Seller or any Subsidiary or, with respect to
contract rights, to which the Seller or any Subsidiary is a party or is bound.
"Business" means the business of the Seller and the Subsidiaries as
currently conducted.
"Business Day" means any day other than a Saturday, Sunday or a day on
which banking institutions in the State of New York are authorized or obligated
by law or executive order to close.
"Closing" has the meaning specified in Section 2.3.
1
<PAGE> 5
"Closing Date" has the meaning specified in Section 2.3.
"Commission" means the United States Securities and Exchange
Commission.
"Common Stock" means the common stock, par value $0.01 per share, of
the Seller.
"DiGiPH Transaction" shall mean (a) the acquisition of all or
substantially all of the assets of DiGiPH PCS, Inc. by Eliska Wireless Ventures
I, Inc., pursuant to that certain Asset Purchase Agreement of even date herewith
between such parties and (b) the series of transactions pursuant to the
agreements identified in Schedule 1.1 between and among, as applicable, the
Seller, the Purchaser and Eliska Wireless Investors I, L.P.
"Disclosed by the Seller" with respect to information concerning any
event, fact or circumstance, includes information contained in the Seller's SEC
Reports, annual and other reports furnished by the Seller to its stockholders as
a group, and press releases of the Seller disseminated to (i) the Dow Jones News
Service or (ii) the National Association of Securities Dealers, Inc. Automated
Quotation System or other national securities exchange, as well as information
disclosed directly to the Purchaser by the Seller in connection with the
entering into of this Agreement (including matters in connection with the DiGiPH
Transaction) or in the Seller's audited annual financial statements, and the
notes and schedules thereto, for the years ended December 31, 1998 and 1999.
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