Company: LBRDK
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001140361-25-000778
Chunk: 311

Company: Liberty Broadband Corp
Filing Date: 2025-01-10
Form: PRER14A
Chunk 311
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 Charter Proposal 2: The Share Issuance Proposal
**(Item 2 on the proxy card)

The Charter Class A common stock is listed on (and the Charter rollover preferred stock to be issued as merger consideration will be listed on) the Nasdaq, and as a result, Charter is subject to the Nasdaq Listing Rules, including with respect to stockholder approval requirements. Nasdaq Listing Rule 5635(a) states: “Shareholder approval is required prior to the issuance of securities in connection with the acquisition of the stock or assets of another company if: . . . where, due to the present or potential issuance of common stock . . . or securities convertible into or exercisable for common stock, other than a public offering for cash . . . the common stock has or will have upon issuance voting power equal to or in excess of 20% of the voting power outstanding before the issuance of stock or securities convertible into or exercisable for common stock.” In connection with the combination, Charter expects that the aggregate voting power of Charter Class A common stock and Charter rollover preferred stock to be issued, or which may become issuable, in connection with the combination will exceed 20% of the voting power of its outstanding common stock prior to such share issuance. Furthermore, Charter is required by the terms of the merger agreement to submit the share issuance proposal to its stockholders at a special meeting. Approval of this share issuance proposal will constitute approval pursuant to Nasdaq Listing Rule 5635(a).

In the share issuance proposal, Charter is asking its stockholders to approve the issuance of shares of Charter Class A common stock and shares of Charter rollover preferred stock in connection with the combination (including in respect to Liberty Broadband equity awards). Approval of the share issuance proposal by Charter stockholders is required for completion of the combination.

Approval of the share issuance proposal requires the affirmative vote of a majority of the votes cast by holders of Charter common stock at the Charter special meeting.

The Charter Board, acting on the unanimous recommendation of the Charter special committee, unanimously recommends that Charter stockholders vote “FOR” the approval of the share issuance proposal (Item 2).

Charter Proposal 3: The Charter Adjournment Proposal

(Item 3 on the proxy card)

In the Charter adjournment proposal, Charter is asking its stockholders to approve the adjournment of the Charter special meeting from time to time to solicit additional proxies in favor of the Charter merger proposal or the share issuance proposal if there are insufficient votes at the time of such adj