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Monday, June 30, 2025

Equity Corporate Actions Alert #2025 - 338
(UPDATED) Spin-Off/Distribution Information for Liberty Broadband Corporation (LBRDA & LBRDK)

Category:

  • Industry Announcement

Markets Impacted:

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On June 20, 2025, Liberty Broadband Corporation (LBRDA & LBRDK) announced a spin-off of its wholly owned subsidiary GCI Liberty, Inc. The EX distribution when-issued market of Liberty Broadband Corporation Class A Common Stock and Liberty Broadband Corporation Class C Common Stock will begin trading on Nasdaq on July 11, 2025. The details for the spin-off and when-issued markets are as follows:

Parent Company/Issue: Liberty Broadband Corporation Class A Common Stock
CUSIP: 530307107
Symbol: LBRDA
Record Date: June 30, 2025
Payment Date: July 14, 2025
EX Date: July 15, 2025
Due Bill Redemption Date: July 15, 2025
Ratio of Spin-Off/ Distribution:
 0.2 of a share of GCI Liberty, Inc. Series A GCI Group Common Stock for each share held.
Parent Company/Issue: Liberty Broadband Corporation Class C Common Stock
CUSIP: 530307305
Symbol: LBRDK
Record Date: June 30, 2025
Payment Date: July 14, 2025
EX Date: July 15, 2025.
Due Bill Redemption Date: July 15, 2025
Ratio of Spin-Off/ Distribution:
 0.2 of a share of GCI Liberty, Inc. Series C GCI Group Common Stock for each share held.

An EX distribution when issued market will be established for Liberty Broadband Corporation Class A Common Stock (LBDAV) and Liberty Broadband Corporation Class C Common Stock (LBDKV). Trades in the EX distribution when issued markets (LBDAV & LBDKV) will not carry due-bills for the spin off/distribution. The details for the EX distribution when-issued markets are as follows:

Symbol: LBDAV
CUSIP: 530307123
First Trade Date: July 11, 2025
Anticipated Suspension Date: July 15, 2025
Settlement Date: July 16, 2025
Symbol: LBDKV
CUSIP: 530307131
First Trade Date: July 11, 2025
Anticipated Suspension Date: July 15, 2025
Settlement Date: July 16, 2025

A when-issued markets will be established for GCI Liberty, Inc. Series A GCI Group Common Stock (GLBAV) and GCI Liberty, Inc. Series C GCI Group Common Stock (GLBKV) on the Nasdaq Global Select Market. The symbols will change to GLIBA and GLIBK, respectively on July 15, 2025. The details for the when issued markets are as follows:

Symbol: GLBAV
CUSIP: 36164V602
First Trade Date: July 11, 2025
Regular Way Trading Begins: July 15, 2025
Settlement Date: July 16, 2025
Symbol: GLBKV
CUSIP: 36164V800
First Trade Date: July 11, 2025
Regular Way Trading Begins: July 15, 2025
Settlement Date: July 16, 2025

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 GLBAV, GLBKV, LBDAV, and LBDKV, please contact Nasdaq Trading Services at +1 212 231 5100.

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