Liberty Expedia Holdings, Inc. Proposes Private Offering of Exchangeable Senior Debentures
07 June 2017 - 6:15AM
Business Wire
Liberty Expedia Holdings, Inc. ("Liberty") (Nasdaq: LEXEA,
LEXEB) announced today that it intends to issue senior debentures
exchangeable for Expedia, Inc. common stock in a private offering.
The debentures will be exchangeable at the option of holders during
specified periods. Upon an exchange of debentures, Liberty, at its
option, may deliver Expedia, Inc. ("Expedia") common stock, cash or
a combination of Expedia common stock and cash. Liberty expects to
use the net proceeds of the offering to repay up to $350 million
outstanding under its margin loan facility entered into by a wholly
owned special purpose subsidiary. Any remaining net proceeds will
be used for general corporate purposes, including to pay interest
on the debentures.
The offering of the debentures will not be registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws and, unless so registered, may not be offered
or sold in the United States except pursuant to an exemption from,
or in a transaction not subject to, the registration requirements
of the Securities Act and applicable state securities laws. The
debentures will be offered by means of an offering memorandum
solely to "Qualified Institutional Buyers" pursuant to, and as that
term is defined in, Rule 144A of the Securities Act. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy the debentures nor shall there be any sale of
debentures 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.
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 intended launch of a
private offering of debentures 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 Expedia Holdings,
Inc.
Liberty Expedia Holdings’ (Nasdaq: LEXEA, LEXEB) principal
assets consist of its interest in Expedia, Inc. and its subsidiary
Vitalize, LLC (formerly referred to as Bodybuilding.com). Expedia
is an online travel company, empowering business and leisure
travelers with the tools and information they need to efficiently
research, plan, book and experience travel. Vitalize is a holding
company engaged in health, fitness, and media-related business
segments. Vitalize currently has three wholly-owned operating
subsidiaries: Bodybuilding, WeMotivate, and Verity Nutrition.
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Liberty Expedia Holdings, Inc.Courtnee Chun,
720-875-5420
Liberty Expedia (NASDAQ:LEXEB)
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