Liberty Announces New Proposed Distribution Date for Spin-off of CommerceHub
09 July 2016 - 6:10AM
Business Wire
Liberty Interactive Corporation ("Liberty") (Nasdaq: QVCA, QVCB,
LVNTA, LVNTB), announced today a new proposed distribution date in
connection with its upcoming spin-off (the "Spin-off") of its
subsidiary CommerceHub, Inc. ("CH Parent"). Because CH Parent’s
registration statement for the Spin-Off is still under review with
the Securities and Exchange Commission, the new proposed
distribution date will be 5:00 p.m., New York City time, on July
22, 2016 (previously announced as July 13, 2016). The record date
will remain 5:00 p.m., New York City time, on July 8, 2016.
In the Spin-off, Liberty will distribute, by means of a dividend
(the "Distribution"), to holders of its Series A and Series B
Liberty Ventures common stock (i) 0.1 of a share of the
corresponding series of CH Parent common stock and (ii) 0.2 of a
share of CH Parent Series C common stock, in each case, for each
share of Liberty Ventures common stock held as of the record
date.
Liberty expects that the CH Parent Series A and Series C common
stock will begin trading in the "regular way" on the Nasdaq Global
Select Market under the symbols "CHUBA" and "CHUBK," and that the
CH Parent Series B common stock will be quoted on the OTC Markets
under the symbol "CHUBB," in each case, beginning on July 25,
2016.
The completion of the Spin-off remains subject to the
satisfaction or waiver, as applicable, of a number of conditions.
Additional information relating to the Spin-off, including the
ex-dividend date of the Distribution and when-issued trading, will
be announced once available.
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements about the completion of the Spin-off.
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, Liberty's ability to satisfy the conditions to
the Spin-off. 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 the most recent Forms 10-K and 10-Q, for additional
information about Liberty and about the risks and uncertainties
related to Liberty's business which may affect the statements made
in this press release.
About Liberty Interactive
Corporation
Liberty Interactive Corporation operates and owns interests in a
broad range of digital commerce businesses. Those businesses are
currently attributed to two tracking stock groups: the QVC Group
and the Liberty Ventures Group. The businesses and assets
attributed to the QVC Group (Nasdaq: QVCA, QVCB) consist of Liberty
Interactive Corporation's subsidiaries, QVC, Inc. and zulily, llc,
and its interest in HSN, Inc., and the businesses and assets
attributed to the Liberty Ventures Group (Nasdaq: LVNTA, LVNTB)
consist of all of Liberty Interactive Corporation's businesses and
assets other than those attributed to the QVC Group, including its
interest in Expedia, Interval Leisure Group and FTD, its
subsidiaries Bodybuilding.com, CommerceHub and Evite, and minority
interests in Time Warner, Liberty Broadband Corporation, Lending
Tree and Charter Communications, Inc.
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