DigitalBridge Preferred Stock Conversion Rights Activated by SoftBank Deal

Following the recent acquisition of DigitalBridge Group, Inc. by affiliates of SoftBank Group Corp., holders of the company's 7.15% Series I Cumulative Redeemable Perpetual Preferred Stock are now presented with a limited opportunity to convert their holdings. This strategic maneuver, finalized on September 30, 2026, has activated specific change of control provisions within the preferred stock's terms.

The window for these Series I preferred stockholders to exercise their conversion right is set to close on October 22, 2026. During this period, each share of Series I Preferred Stock can be exchanged for a cash payment of $14.43. This provision offers a defined exit strategy for these investors in light of the change in ownership, a common feature in sophisticated capital structures designed to protect preferred equity holders during significant corporate events.

It is crucial for investors to note that this specific conversion right, tied to the SoftBank Group Corp. transaction, will expire after October 22nd. Shares of Series I Preferred Stock not converted by this deadline will remain outstanding, continuing under the terms established prior to the acquisition. This distinction is vital for holders assessing their investment options in the newly structured entity.

DigitalBridge, a prominent global investor focused on digital infrastructure, manages a substantial portfolio encompassing data centers, fiber networks, and cell towers. The firm's strategic positioning within the rapidly expanding digital infrastructure sector, valued in the hundreds of billions globally and projected for continued robust growth driven by 5G, AI, and cloud computing, makes such acquisition events particularly significant. The acquisition by SoftBank Group Corp., a major technology investment conglomerate, signals a potential acceleration of DigitalBridge's growth initiatives.

Further communications regarding change of control conversion rights are anticipated for other preferred stock series. Holders of Series H Preferred Stock are slated to receive separate notices on October 7, 2026, while Series J Preferred Stock holders will be notified on October 14, 2026. This phased approach ensures clarity and allows each series adequate time to evaluate their options.

For those Series I Preferred Stock holders opting to convert, instructions should be directed through their respective brokers, banks, or financial intermediaries. Equiniti Trust Company, LLC is acting as the designated conversion agent for this process. The terms governing any shares of Series I Preferred Stock that remain unconverted will persist unchanged, reflecting the original agreements governing these securities.