DigitalBridge Group announced plans to delist its Series H, Series I, and Series J preferred shares from the NYSE as it moves toward its acquisition by an affiliate of SoftBank Group. The company expects to become an indirect subsidiary of SoftBank after the merger closes, and said the delisting will reduce compliance costs and management resources required to maintain the listing. It does not plan to list the preferred shares on another national exchange. After the merger, holders of each preferred series will have the right to convert their shares into cash within a specified conversion period.
Digitalbridge Group IncDelisting preferred shares as part of acquisition reduces liquidity and may force conversion to cash.
SoftBank Group Corp.SoftBank's acquisition of DigitalBridge nears completion, expanding its digital infrastructure portfolio.
