ATLANTA-AirGate PCS Inc.’s stockholders approved a proposal to merge the company with fellow Sprint PCS affiliate iPCS Inc. at a special stockholders meeting.
Under the terms of the transaction originally announced in August, iPCS will be granted 13.5 million shares of AirGate common stock, which includes 1.1 million shares reserved for issuance upon the exercise of outstanding unrestricted iPCS options and warrants.
The combined company will provide Sprint PCS services to more than 14 million potential customers in South Carolina, North Carolina, Georgia, Illinois, Michigan, Iowa and Nebraska.
The merger is expected to close by the end of the month.
