Uniti Group Inc.
For the period ended Dec 31, 2024. Filed Mar 24, 2025.
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FY2024 · Filed Mar 24, 2025
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Notes to Balance Sheet
- Description of Business:
Windstream Parent, Inc. (the “Company”), a Delaware corporation, is an indirect wholly owned subsidiary of Windstream Holdings II, LLC (“Windstream”). Windstream is a privately held Delaware limited liability company with no publicly registered debt or equity securities. The Company was formed on April 19, 2024 for the purpose of completing the merger of Windstream and Uniti Group, Inc. (“Uniti”), pursuant to the Agreement and Plan of Merger, dated as of May 3, 2024, by and between Windstream and Uniti (the “Merger Agreement”). Prior to closing of the merger, Windstream will undergo an internal reorganization and will (a) merge with and into a newly formed Delaware limited liability company (“New Windstream LLC”), with New Windstream LLC as the surviving entity of such merger and (b) the Company becoming the ultimate parent company of New Windstream LLC (as successor to Windstream) and changing its name to New Uniti. Following the pre-closing Windstream reorganization, an entity formed as part of the pre-closing Windstream reorganization and an indirect wholly owned subsidiary of New Uniti identified as “Merger Sub” in the Merger Agreement will merge with and into Uniti (the “Merger”), with Uniti surviving the Merger as an indirect wholly owned subsidiary of New Uniti, such that both New Windstream Holdings II (as successor to Windstream) and Uniti will be indirect wholly owned subsidiaries of New Uniti.
- Significant Accounting Policies:
Basis of Presentation
The balance sheet is presented in accordance with U.S. generally accepted accounting principles. Separate statements of income, comprehensive income, changes in shareholder’s equity, and cash flows have not been presented because the Company has not engaged in any activities except in connection with its formation.
The Company’s fiscal year end is December 31.
The balance sheet has been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business.
- Commitments and Contingencies:
As of December 31, 2024, the Company hasno commitments and contingencies.
- Shareholder’s Equity:
On April 19, 2024, the Company was authorized to issue 100 common shares with $.01 par value. The common shares were issued to New Windstream LLC for $1 payable to the Company. As of December 31, 2024,100 common shares are outstanding and the $1 receivable from New Windstream LLC has been accounted for as contra-equity on the balance sheet.
- Subsequent Events:
The Company has evaluated subsequent events through the date the balance sheet was issued. The Company concluded that there were no subsequent events that require adjustment to the balance sheet or disclosure in the notes to the balance sheet.
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