Company: LBRDK
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001140361-25-000778
Chunk: 653

Company: Liberty Broadband Corp
Filing Date: 2025-01-10
Form: PRER14A
Chunk 653
---
 more fully described in the Merger Agreement, Merger Sub will be merged with and into Liberty Broadband (the “LB Merger”) and, following the LB Merger, Liberty Broadband will be merged with and into Merger LLC (the “Upstream Merger” and together with the LB Merger, the “Merger”). The Merger Agreement further contemplates that, as a condition to the closing of the Merger, Liberty Broadband will have effected a divestiture (the “GCI Divestiture”) of the GCI Business (as defined in the Merger Agreement) by way of a dividend to its stockholders (unless Charter consents to different terms) in accordance with the principles set forth therein.

Pursuant to the LB Merger (other than (i) shares of LB Common Stock (as defined below) or LB Preferred Stock (as defined below) held by Liberty Broadband as treasury stock or by any of its wholly owned subsidiaries or owned by Charter or any of its wholly owned subsidiaries or (ii) shares of LB Series B Common Stock (as defined below) as to which the holder has properly demanded appraisal rights in accordance with Section 262 of the Delaware General Corporation Law):

(i) each issued and outstanding share of Series A common stock, par value $0.01 per share (“LB Series A Common Stock”), of Liberty Broadband will be converted into the right to receive a number of shares of Class A common stock, par value $0.001 per share (“Charter Class A Common Stock”), of Charter equal to 0.236 (the “Exchange Ratio”);

(ii) each issued and outstanding share of Series B common stock, par value $0.01 per share (“LB Series B Common Stock”), of Liberty Broadband will be converted into the right to receive a number of shares of Charter Class A Common Stock equal to the Exchange Ratio;

(iii) each issued and outstanding share of Series C common stock, par value $0.01 per share (“LB Series C Common Stock” and together with the LB Series A Common Stock and LB Series B Common Stock, the “LB Common Stock”), of Liberty Broadband will be converted into the right to receive a number of shares of Charter Class A Common Stock equal to the Exchange Ratio; and

(iv) each issued and outstanding share of Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share (“LB Preferred Stock”), of Liberty Broadband will be converted