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Thursday, July 6, 2023
Equity Corporate Actions Alert #2023 - 393
(UPDATED: X/D Confirmed) Information regarding the split-off and distribution of Atlanta Braves Holdings, Inc. from Liberty Media (BATRA/BATRK/FWONA/FWONK)
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On June 30th, Liberty Media Corporation (BATRA, BATRK, FWONA & FWONK) announced a redemptive split-off of Atlanta Braves Holdings, Inc. and a distribution of the new Atlanta Braves Holdings, Inc. Series C Common Stock (BATRK) to its shareholders of all the common stock of Liberty Formula One Series A Common Stock (FWONA) & Liberty Formula One Series C Common Stock (FWONK). At the effective time of the Split-Off, that occurred at the close on July 18th, Liberty Media has redeemed each existing share of its Liberty Braves Series A Common Stock (BATRA) for one new share of Atlanta Braves Holdings, Inc. Series A Common Stock (BATRA) & each existing share of its Liberty Braves Series C Common Stock (BATRK) for one new share of Atlanta Braves Holdings, Inc. Series C Common Stock (BATRK). (NOTE: the symbols BATRA and BATRK were reused for the NEW Atlanta Braves Holdings, Inc. Series A and Series C common stock.)
Liberty Media also announced a special dividend of 0.028960604 of a share of Atlanta Braves Holdings Series C common stock to Liberty Formula One holders (FWONA/FWONK). The Split-Off and distribution is no longer conditional and has been confirmed. Liberty Media also announced a reclassification of its Liberty Sirius XM common stock (LSXMA/LSXMB/LSMSK) and Liberty Formula One common stock (FWONA/FWONK) effective after the close on August 3, 2023. Information regarding the reclassifications of Liberty SiriusXM, Liberty Formula One and the initial listing of new Liberty Live will be announced on a subsequent Equity Corporate Action Alert. The details for the split off are as follows:
The details for the distribution are as follows:
For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523. If you would like to register as a market maker in BATRA, BATRK, FWONA or FWONK contact Nasdaq Trading Services at +1 212 231 5100. |
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