Company: BBU
Filing Date: 2025-02-28
Form Type: F-3
Source: 0001104659-25-019207
Chunk: 25

Company: Brookfield Business Partners L.P.
Filing Date: 2025-02-28
Form: F-3
Chunk 25
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 exchangeable shares in exchange for issuing directly to such tendering holder one unit per exchangeable share held (subject to adjustment in the event of certain dilutive or other capital events by BBUC or the partnership as described below in “— Adjustments to Reflect Certain Capital Events ”) or delivering its cash equivalent based on the NYSE closing price of one unit on the date that the request for exchange is received by BBUC’s transfer agent (or if not a trading day, the next trading day thereafter) (the form of payment to be determined at the sole election of the partnership), plus, in each case, a cash amount for each tendered exchangeable share

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equal to any unpaid dividends per tendered exchangeable share. If the partnership elects to satisfy BBUC’s exchange obligation directly (in lieu of BBUC delivering units or cash as described above), it shall, within three (3) business days from the receipt of the holder’s notice of exchange, provide written notice to BBUC and BBUC’s transfer agent of its intention to satisfy the exchange obligation and shall satisfy such obligation within ten (10) business days from the date that the notice of exchange is received by BBUC’s transfer agent by delivering to such holder of exchangeable shares the units or its cash equivalent. Our unitholders are not entitled to vote on the partnership’s exercise of the overriding call right described in the preceding sentences. The partnership currently intends to satisfy any exchange, redemption or acquisition of exchangeable shares through the delivery of units rather than cash.

In the event that a tendering holder of exchangeable shares has not received the number of units or its cash equivalent in satisfaction of the tendered exchangeable shares, then such tendering holder of exchangeable shares will be entitled to receive the equivalent of such cash amount or units amount from Brookfield pursuant to the Rights Agreement until March 15, 2027. In this scenario, the tendered exchangeable shares will be delivered to the rights agent (as defined below) in exchange for the delivery of the equivalent of the cash amount or units amount from a collateral account of Brookfield administered by the rights agent. See the section entitled “— Secondary Exchange Rights ” for a further description of the Rights Agreement. The partnership has agreed to indemnify Brookfield, in its capacity as selling securityholder, for certain liabilities under applicable securities laws concerning selling securityholders, in connection with any units delivered by Brookfield pursuant to the Rights Agreement.

No Fractional