Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 662

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 662
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 Merger Sub 2, Inc., a wholly-owned subsidiary of Merger LLC (“Merger Sub”), (i) Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation (the “Surviving Corporation”), and each share of the Company Series A common stock, par value $0.01 per share (the “Company Series A Common Stock”), Company Series B common stock, par value $0.01 per share (the “Company Series B Common Stock”) and Company Series C common stock, par value $0.01 per share (the “Company Series C Common Stock”, together with the Series A Common Stock and the Company Series B Common Stock, the “Company Common Stock”), issued and outstanding immediately prior to the Effective Time (as defined in the Agreement) other than shares of Company Common Stock held in treasury, held by any of the Company’s wholly-owned subsidiaries or owned by the Acquiror or any of the Acquiror’s wholly-owned subsidiaries and Dissenting Shares (as defined in the Agreement), will automatically be converted into and become the right to receive 0.2360 of a validly issued, fully paid and nonassessable 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