DigitalBridge is a digital-infrastructure investment manager spanning data centers, cell towers, fiber, small cells and edge infrastructure, with reported assets under management of about $120.6 billion as of June 30, 2026. SoftBank’s stated rationale is to use the platform to build and finance next-generation AI infrastructure.
The acquisition is now complete, not merely agreed. On September 30, 2026, Merger Sub I merged into DigitalBridge and Merger Sub II merged into DigitalBridge Operating Company, leaving DigitalBridge as an indirect subsidiary of SoftBank’s acquisition structure. 〔0〕 The transaction had already been announced on December 29, 2025, so the direction was known; this filing mainly removes closing risk and formalizes the ownership change.
| Security | Consideration / treatment |
|---|---|
| Common stock (Item 2.01) | $16.00 cash per share |
| OP common units (Item 2.01) | $16.00 cash per unit, with DigitalBridge-held units continuing outstanding |
| Series H preferred (Item 3.03) | $11.28 conversion consideration per share |
| Series I preferred (Item 3.03) | $14.43 conversion consideration per share |
| Series J preferred (Item 3.03) | $15.16 conversion consideration per share |
Public shareholders have been cashed out at the agreed price. Each outstanding common share was converted into the right to receive $16.00 in cash, subject to customary withholding. The common stock was removed from NYSE trading before the September 30, 2026 open, and the company intends to suspend its remaining reporting obligations after the applicable Form 15 filings. 〔1〕
The business survives, but the public-company investment case does not. Parent now controls 100% of DigitalBridge’s common stock and voting power, while SoftBank provides the ownership backstop through its subsidiaries. 〔2〕 The filing does not disclose a new operating plan, additional capital commitment, or changed portfolio targets; the practical change is control and access to a private-owner structure rather than a disclosed shift in the underlying digital-infrastructure strategy.
Preferred holders face a separate, time-limited election process. The company plans to issue change-of-control notices for Series I on October 1, Series H on October 7 and Series J on October 14, after which holders can elect cash conversion at the specified amounts. 〔3〕 Preferred shares not converted will remain outstanding under the surviving corporation’s amended charter, so the transaction is not an immediate cash-out for every security class.
Bottom line: This filing completes the already-expected SoftBank acquisition and ends DigitalBridge’s life as a listed company. It materially changes ownership and governance, but adds little new information about how the underlying digital-infrastructure business will operate under SoftBank.
Read the original 8-K on SEC EDGAR ↗