Liberty Broadband Corp. Announces Completion of Rights Offering
17 January 2015 - 10:54AM
Business Wire
Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK) (“Liberty
Broadband”) announced today the completion of its rights offering,
which expired in accordance with its terms at 5:00 p.m., New York
City time, on January 9, 2015.
Liberty Broadband has been informed by the subscription agent
that the rights offering was fully subscribed, with 17,277,224
shares of Series C common stock to be issued to those rightsholders
exercising basic and, if applicable, oversubscription privileges.
Approximately 98% of the shares to be issued as a result of the
rights offering were subscribed for pursuant to validly exercised
basic subscription privileges. As a result, the remaining shares
available for issuance to those rightsholders validly exercising
oversubscription privileges will be allocated pro rata based on the
number of rights underlying such rightsholders’ basic subscription
privilege. There is no single proration factor for this allocation
due to the process by which the subscription agent allocates the
remaining shares, which involves multiple rounds of proration among
the validly oversubscribing rightsholders.
Liberty Broadband expects the subscription agent to distribute
the shares of Series C common stock purchased in the rights
offering, the refund checks for unfulfilled oversubscriptions and
the checks for the sale of proceeds of rights sold by the
subscription beginning on or about Tuesday, January 20, 2015.
About Liberty Broadband Corporation
Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK) is
comprised of, among other things, its interest in Charter
Communications, its subsidiary TruePosition and a minority equity
investment in Time Warner Cable.
Liberty Broadband CorporationCourtnee Ulrich,
720-875-5420
Liberty Broadband (NASDAQ:LBRDA)
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