Lumen Technologies, Inc. 8-K

What Happened

• Lumen Technologies announced on Feb. 2, 2026 that it completed the previously disclosed sale of its Mass Markets fiber-to-the-home business in 11 states to Forged Fiber 37, LLC (an indirect AT&T subsidiary) under the Purchase Agreement dated May 21, 2025. The Sellers received $5.75 billion in cash consideration, subject to working capital and other purchase price adjustments. The company also issued a press release announcing the closing.

Key Details

• Sale covers fiber-to-the-home operations in Arizona, Colorado, Florida, Idaho, Iowa, Minnesota, Nebraska, Nevada, Oregon, Utah and Washington.
• Cash consideration at closing: $5.75 billion (subject to customary post-closing adjustments).
• Planned use of proceeds (on and after the closing): apply approximately $4.8 billion plus cash on hand to (a) redeem in full certain secured and super-priority notes (including 10.000% secured notes due 2032 and 4.125% super-priority notes due 2029 and 2030), (b) repay outstanding term loans under its Superpriority Revolving/Term Loan A Credit Agreement, and (c) repay amounts due under its Superpriority Term B Credit Agreement.
• Lumen intends to file required pro forma financial information within four business days of the closing.

Why It Matters

• The transaction materially reduces Lumen’s consumer fiber footprint in 11 states and generates significant cash proceeds that the company plans to use primarily to pay down secured debt and term loans. This changes the company’s asset base and capital structure and could affect future interest costs and leverage metrics. The filing also includes forward-looking statements and indicates additional disclosures (pro forma financials) will follow.