Company: LBRDK
Filing Date: 2025-01-17
Form Type: PRER14A
Source: 0001140361-25-001417
Chunk: 652

Company: Liberty Broadband Corp
Filing Date: 2025-01-17
Form: PRER14A
Chunk 652
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 Delaware corporation (the “Company”). The Agreement provides that (i) Merger Sub will be merged with and into the Company (the “Merger”), as a result of which the Company will become an indirect wholly owned subsidiary of Parent, and (ii) following the Merger, the Company will be merged with and into Merger LLC (the “Upstream Merger” and, collectively with the Merger and the other transactions contemplated by the Agreement, the “Transaction”), as a result of which Merger LLC will remain a direct wholly owned subsidiary of Parent. In the Transaction, among other things, each issued and outstanding share immediately prior to the effective time of the Merger of (i) Series A common stock, par value $0.01 per share, of the Company, (ii) Series B common stock, par value $0.01 per share, of the Company, and (iii) Series C common stock, par value $0.01 per share, of the Company (the shares referred to in clauses (i), (ii) and (iii), the “Company Shares”) (in each case other than the Company Shares held by the Company as treasury stock, held by Parent, or held by any wholly owned subsidiaries of the Company or Parent, in each case prior to the effective time of the Merger, and any Dissenting Shares (as defined in the Agreement)) will be converted into the right to receive 0.236 (the “Exchange Ratio”) shares of Class A common stock, par value $0.001 per share (the “Parent Class A Common Shares”), of Parent, with any resulting fractional Parent Class A Common Shares treated in accordance with the terms of the Agreement. In addition, in the Transaction, each issued and outstanding share immediately prior to the effective time of the Merger of Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share, of the Company will be converted into the right to receive one share of Series A Cumulative Redeemable Preferred Stock, par value $0.001 per share (the “Parent Preferred Shares”), of Parent. The terms and conditions of the Transaction are more fully set forth in the Agreement. We have acted as financial advisor to the Special Committee of the Board of Directors of Parent in connection with the Transaction for purposes of undertaking a fairness evaluation with respect to the Transaction. We will receive a fee for our services in connection with the Transaction, a portion of which is payable upon the rendering of this opinion and a substantial portion of