Company: LBRDK
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001140361-25-000778
Chunk: 660

Company: Liberty Broadband Corp
Filing Date: 2025-01-10
Form: PRER14A
Chunk 660
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able share (the “Exchange Ratio”) of the Acquiror’s Series A common stock, par value $0.001 per share (the “Acquiror Common Stock”) (such merger, the “Merger”), with cash paid in lieu of any fractional shares of the Acquiror Common Stock, subject to the terms and conditions of the Agreement and (ii) immediately thereafter, the Surviving Corporation will merge with and into Merger LLC, with Merger LLC continuing as the surviving company, and each share of capital stock of the Surviving Corporation will automatically be cancelled and cease to exist, and no securities or other consideration will be delivered in exchange therefor (clauses (i) and (ii), together, the “Transaction”).

In connection with preparing our opinion, we have (i) reviewed a draft dated November 12, 2024 of the Agreement; (ii) reviewed certain publicly available business and financial information concerning the Company and the Acquiror and the industries in which they operate; (iii) reviewed certain internal financial analyses prepared by the management of the Company relating to the businesses of the Company and the Acquiror; and (iv) performed such other financial studies and analyses and considered such other information as we deemed appropriate for the purposes of this opinion.

In addition, we have held discussions with certain members of the management of the Company with respect to certain aspects of the Transaction, and the past and current business operations of the Company and the Acquiror, the financial condition and future prospects and operations of the Company and the Acquiror, the effects of the Transaction on the financial condition and future prospects of the Company and the Acquiror, and certain other matters we believed necessary or appropriate to our inquiry.

In giving our opinion, we have relied upon and assumed the accuracy and completeness of all information that was publicly available or was furnished to or discussed with us by the Company or otherwise reviewed by or for us. We have not independently verified any such information or its accuracy or completeness and, pursuant to our engagement letter with the Company, we did not assume any obligation to undertake any such independent verification. We have not conducted or been provided with any valuation or appraisal of any assets or liabilities, nor have we evaluated the solvency of the Company or the Acquiror under any state or federal laws relating to bankruptcy, insolvency or similar matters. In relying on financial analyses provided to us or derived therefrom, we have assumed that they have been reasonably prepared based on assumptions reflecting the best currently available estimates and