Liberty Media Corporation (FWONB: OTCQB) | Liberty Media Corporation Prices Primary Offering and Secondary Offering on Behalf of Selling Stockholders of Series C Liberty Formula One Common Stock

Liberty Media Corporation Prices Primary Offering and Secondary Offering on Behalf of Selling Stockholders of Series C Liberty Formula One Common Stock

May 19, 2017

OTC Disclosure News Service

Liberty Media Corporation (“Liberty”) (Nasdaq: LSXMA, LSXMB, LSXMK,
BATRA, BATRK, FWONA, FWONK) announced today the pricing of an
underwritten public offering of 40,000,000 shares of Liberty’s Series C
Liberty Formula One common stock, par value $0.001 per share (“FWONK”),
consisting of 12,903,225 shares of FWONK offered by Liberty and
27,096,775 shares of FWONK offered on behalf of certain selling
stockholders (the “Selling Stockholders”), at a price to the public of
$31.00 per share. The Selling Stockholders acquired the shares of FWONK
offered in this offering in January 2017 in connection with the
consummation of Liberty’s acquisition of Delta Topco Limited (“Delta
Topco”), the parent company of Formula 1. The Selling Stockholders have
granted the underwriters a 30-day option to purchase up to an additional
6,000,000 shares of FWONK at the price to the public set forth above.

The offering is expected to settle and close on May 24, 2017, subject to
the satisfaction of customary closing conditions.

Liberty expects to receive approximately $388.7 million in net proceeds,
after deducting underwriters’ discounts and commissions related to the
primary offering but before deducting offering expenses, from Liberty’s
sale of shares of FWONK, and intends to use the net proceeds to repay
existing indebtedness of a wholly owned subsidiary of Delta Topco and to
pay expenses related to the offering. The net proceeds of the offering
by Liberty will be attributed to the Formula One Group. The Selling
Stockholders will receive all of the net proceeds from the sale of their
shares of FWONK. Liberty will not receive any proceeds from the sale of
shares of FWONK on behalf of the Selling Stockholders in this offering.

Goldman Sachs Co. LLC, J.P. Morgan and Morgan Stanley are acting as
book-running managers and representatives of the underwriters for the
offering, together with BofA Merrill Lynch, Barclays, Credit Suisse and
Citigroup as additional book-running managers. When available, copies of
the prospectus supplement for the offering may be obtained on the
website of the Securities and Exchange Commission (“SEC”),,
or by contacting Goldman Sachs Co. LLC, Attn: Prospectus Department,
200 West Street, New York, NY 10282, Telephone: 1-866-471-2526, Email:;
J.P. Morgan Securities LLC, Attn: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, Telephone: 1-866-803-9204,
or Morgan Stanley Co. LLC, Attn: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014.

The shares of FWONK will be issued and sold pursuant to an effective
shelf registration statement on Form S-3 previously filed with the SEC.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of FWONK or any other securities,
nor shall there be any sale of these securities in any state in which
such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state. The offering
of these securities may be made only by means of a prospectus and
related prospectus supplement meeting the requirements of Section 10 of
the Securities Act of 1933, as amended.

Forward-Looking Statements

This press release includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995,
including statements relating to the pricing and intended closing of a
public offering of shares of FWONK and the use of proceeds therefrom.
These forward-looking statements involve many risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by such statements, including, without limitation,
general market conditions. These forward-looking statements speak only
as of the date of this press release, and Liberty expressly disclaims
any obligation or undertaking to disseminate any updates or revisions to
any forward-looking statement contained herein to reflect any change in
Liberty’s expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based. Please
refer to the publicly filed documents of Liberty, including its most
recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, for
risks and uncertainties related to Liberty’s business which may affect
the statements made in this press release.

About Liberty Media Corporation

Liberty Media Corporation operates and owns interests in a broad range
of media, communications and entertainment businesses. Those businesses
are attributed to three tracking stock groups: the Liberty SiriusXM
Group, the Braves Group and the Formula One Group. The businesses and
assets attributed to the Liberty SiriusXM Group (Nasdaq: LSXMA, LSXMB,
LSXMK) include Liberty’s interest in SiriusXM. The businesses and assets
attributed to the Braves Group (Nasdaq: BATRA, BATRK) include Liberty’s
subsidiary Braves Holdings, LLC. The businesses and assets attributed to
the Formula One Group (Nasdaq: FWONA, FWONK) consist of all of Liberty’s
businesses and assets other than those attributed to the Liberty
SiriusXM Group and the Braves Group, including its subsidiary Formula 1,
its interest in Live Nation Entertainment and minority equity
investments in Time Warner Inc. and Viacom.

Source: Liberty Media Corporation

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