Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 295

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 295
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”), to provide that (i) solely in connection with the GCI divestiture, Malone Series C Exchangeable Shares (as defined in the Malone exchange agreement) will not be exchanged for shares of Liberty Broadband Series B common stock and the holders of such Malone Series C Exchangeable Shares will receive the same per share consideration received by holders of shares of Liberty Broadband Series C common stock, (ii) Liberty Broadband waives its right to obligate the Malone exchange holders to enter into an exchange agreement with GCI spinco in connection with the GCI divestiture, (iii) the Malone exchange agreement would not be terminated as a result of the Malone exchange holders falling below 20% voting power in connection with the GCI divestiture, and (iv) following the Malone exchange and prior to any termination of the merger agreement, none of the Malone Series C Exchangeable Shares will be exchanged for shares of Liberty Broadband Series B common stock. All of the independent directors of the Liberty Broadband Board approved the amendments to, and waiver under, the Malone exchange agreement.

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TABLE OF CONTENTS

U.S. FEDERAL INCOME TAX CONSIDERATIONS OF THE COMBINATION The following discussion summarizes U.S. federal income tax considerations of the combination to U.S. holders (as defined below) that receive shares of Charter capital stock in exchange for their shares of Liberty Broadband capital stock pursuant to the combination. This discussion is limited to U.S. holders who hold their shares of Liberty Broadband capital stock as a “capital asset” within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion is based on the Code, applicable Treasury regulations, judicial interpretations thereof and administrative rulings and practice, all as in effect as of the date hereof, and all of which are subject to change or differing interpretations, possibly with retroactive effect. Any such change or interpretation could affect the accuracy of the statements and conclusions set forth herein. This discussion does not purport to address all aspects of U.S. federal income taxation that may be relevant to particular holders of shares of Liberty Broadband capital stock in light of their particular facts and circumstances, nor does it apply to holders of shares of Liberty Broadband capital stock that are subject to special rules under the U.S. federal income tax laws (including, for example, banks or other financial institutions, insurance companies, regulated investment companies, real estate investment trusts, mutual funds, dealers in securities or