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Charter unit signs warrant agreement to buy Arris shares

Charter Communications Inc. unit Charter Communications Operating LLC on Sept. 30 entered into a warrant agreement to buy up to 6 million ordinary shares of Arris International PLC.

Pursuant to the agreement, the warrant will vest in three tranches based on the amount of goods and services Charter buys from Arris. Charter may acquire between 500,000 and 1.0 million shares based on its purchases in 2016; between 1.0 million and 2.5 million shares based on purchases in 2017; and between 1.0 million and 2.5 million based on purchases in 2018.

If Charter increases its purchases, with a set percentage of the purchase for goods and services in Arris' network and cloud business for 2016, 2017 and 2018, it may increase the threshold of Arris' shares for any given year.

The warrants are set to expire on Sept. 30, 2023, according to an SEC filing.