Company: LBRDK
Filing Date: 2025-02-19
Form Type: 425
Source: 0001104659-25-015204
Chunk: 3

Company: Liberty Broadband Corp
Filing Date: 2025-02-19
Form: 425
Chunk 3
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 in the joint proxy statement/prospectus.

<div align='center'>Supplemental Disclosures to the Joint Proxy Statement/Prospectus</div>

The supplemental information contained in this Current Report on Form 8-K
supplements the disclosures contained in the joint proxy statement/prospectus and should be read in conjunction with the joint proxy statement/prospectus,
which should be read in its entirety. Defined terms used but not defined below have the meanings set forth in the joint proxy statement/prospectus.
All page references in the information below are to pages in the joint proxy statement/prospectus. Paragraph references used
herein refer to the joint proxy statement/prospectus before any additions or deletions resulting from the supplemental disclosures. For
clarity, new text within restated paragraphs from the joint proxy statement/prospectus is highlighted with bold, underlined text.

The section of the joint proxy statement/prospectus entitled “The Combination—Opinion of the Charter Special Committee’s Financial Advisor” starting on page 90 is hereby supplemented as follows:

The first sentence of the second full paragraph on page 93 is amended and restated as follows:

Centerview derived the estimated net asset value, which is referred to in this summary of Centerview’s opinion as NAV, of Liberty Broadband, as adjusted for the transactions, including the GCI divestiture, by calculating the value of the Charter Class A common stock owned by Liberty Broadband by multiplying (i) the closing price of Charter Class A common stock as of September 23, 2024 of $331.62 by (ii) the number of shares of Charter Class A common stock owned by Liberty Broadband of approximately 45.6 million shares, as included in the Liberty Broadband Internal Data, and adding or subtracting, as applicable, the value of certain assets and liabilities of Liberty Broadband, as included in the Liberty Broadband Internal Data, including (a) Liberty Broadband’s aggregate net debt as of September 30, 2024 of approximately $2,490 million; (b) make-whole payments in respect of Liberty Broadband’s exchangeable debt estimated by Charter management assuming an illustrative call date of September 30, 2024 of approximately $68 million; (c) the aggregate liquidation value of Liberty Broadband’s outstanding Series A cumulative redeemable preferred stock of approximately $180 million; (d) the value of certain of Liberty Broadband’s corporate-level expenses estimated by Charter management to be incurred through the closing of the