Company: LBRDK
Filing Date: 2025-05-06
Form Type: 8-K
Source: 0001104659-25-044735
Chunk: 0

Company: Liberty Broadband Corp
Filing Date: 2025-05-06
Form: 8-K
Item: Item 7.01
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Item 7.01. Regulation FD Disclosure

In connection with, and in
furtherance of, the previously announced spin-off of GCI Liberty, Inc., a Nevada corporation (“ GCI Liberty”),
from Liberty Broadband Corporation, a Delaware corporation (“ Liberty Broadband”), on May 5, 2025, Liberty Broadband
entered into a Series A Preferred Stock Purchase Agreement (the “ Purchase Agreement”) with GCI Liberty, and each
of Janus Henderson Income ETF, a series of the Detroit Street Trust, a Delaware Business Trust, and Janus Henderson Multi-Sector Income
Fund, a series of the Janus Investment Fund, a Massachusetts Business Trust (collectively, the “ Buyers”), whereby,
subject to the terms thereof, Liberty Broadband will sell 10,000 shares of GCI Liberty’s 12% Series A Cumulative Redeemable
Non-Voting Preferred Stock, par value $0.01 per share (the “ Shares”), to the Buyers in exchange for $10 million (the
“ Transaction”).

The closing of the Transaction
is conditioned on, among other things, the satisfaction (or, if permissible, waiver) of (i) the absence of any order or law prohibiting
the consummation of the Transaction and (ii) the completion of an internal reorganization of Liberty Broadband and GCI Liberty, pursuant
to which Liberty Broadband will transfer certain assets, including 100% of the outstanding equity interests in GCI, LLC, to GCI Liberty
in exchange for GCI Liberty stock, including the Shares, and the assumption of certain liabilities (collectively, the “ Reorganization”).
In connection with such Reorganization, GCI Liberty will file a Certificate of Designations with the Secretary of State of the State of
Nevada setting forth the rights, preferences and privileges of the Shares (the “ Certificate of Designations”).

The Shares will be subject
to, among other things, mandatory redemption on the date that is seven years after the date the Shares are first issued (the “ Scheduled
Redemption Date”) to Liberty Broadband in the Reorganization (the “ Original Issuance Date”) at a price equal
to the liquidation price plus all unpaid dividends (whether or not declared) on such shares accrued from (and including) the most recent
dividend payment date to (but not including) (i) the Scheduled Redemption Date or (ii) in the case of Shares that remain outstanding
following the Scheduled Redemption Date,