May 14, 2020
ÎçҹѰ»¨ Announces Ex-Dividend Date, When-Issued Trading, Trading Symbol Information and New Expiration Date for Rights Offering
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- ÎçҹѰ»¨ (Nasdaq: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) ("ÎçҹѰ»¨") announced today that Nasdaq has established May 18, 2020 as the ex-dividend date for the distribution of subscription rights (the "Rights Distribution") to purchase shares of ÎçҹѰ»¨'s Series C ÎçҹѰ»¨ SiriusXM common stock (the "Series C ÎçҹѰ»¨ SiriusXM Rights") in connection with its previously announced rights offering (the "Rights Offering"). Therefore, as a result of "due bill" trading procedures, those persons acquiring shares of ÎçҹѰ»¨'s Series A, Series B and Series C ÎçҹѰ»¨ SiriusXM common stock in the market and continuing to hold such shares through May 15, 2020 will be entitled to receive Series C ÎçҹѰ»¨ SiriusXM Rights. The Series C ÎçҹѰ»¨ SiriusXM Rights will trade on a when-issued basis on the Nasdaq Global Select Market under the symbol "LSXRV" on May 15, 2020 and will begin trading in the regular way on the Nasdaq Global Select Market under the symbol "LSXMR" on May 18, 2020. In addition, the Rights Offering will expire at 5:00 p.m., New York City time, on June 5, 2020 (which is a change from the previously announced expiration date of June 2, 2020).
For additional information on the Rights Offering, please see the prospectus included in ÎçҹѰ»¨'s Registration Statement on Form S-3 filed with the Securities and Exchange Commission on May 14, 2020. The completion of the Rights Distribution remains subject to the satisfaction of certain conditions, and ÎçҹѰ»¨ reserves the right to terminate the Rights Offering at any time prior to the expiration date of the Rights Offering, including prior to the Rights Distribution or the commencement of the Rights Offering.
Forward-Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Rights Distribution, the Rights Offering and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, ÎçҹѰ»¨'s ability to satisfy the conditions to the Rights Distribution and ÎçҹѰ»¨'s ability to complete the Rights Offering. These forward-looking statements speak only as of the date of this press release, and ÎçҹѰ»¨ expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in ÎçҹѰ»¨'s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of ÎçҹѰ»¨, including the most recent Forms 10-K and 10-Q, for additional information about ÎçҹѰ»¨ and about the risks and uncertainties related to ÎçҹѰ»¨'s business which may affect the statements made in this press release.
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of any securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The Rights Offering will be made only by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. None of ÎçҹѰ»¨, its board of directors or any committee of its board of directors is making any recommendation to rightsholders as to whether to exercise or sell their Series C ÎçҹѰ»¨ SiriusXM Rights. Rightsholders should carefully read the prospectus insofar as it relates to the Rights Offering before making any decisions with respect to their Series C ÎçҹѰ»¨ SiriusXM Rights.
About ÎçҹѰ»¨
ÎçҹѰ»¨ operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the ÎçҹѰ»¨ SiriusXM Group, the Braves Group and the Formula One Group. The businesses and assets attributed to the ÎçҹѰ»¨ SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include ÎçҹѰ»¨'s interests in SiriusXM and Live Nation Entertainment. The businesses and assets attributed to the Braves Group (NASDAQ: BATRA, BATRK) include ÎçҹѰ»¨'s subsidiary Braves Holdings, LLC. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) consist of all of ÎçҹѰ»¨'s businesses and assets other than those attributed to the ÎçҹѰ»¨ SiriusXM Group and the Braves Group, including its subsidiary Formula 1 and minority equity investment in AT&T Inc.
ÎçҹѰ»¨
Courtnee Chun, 720-875-5420
Source: ÎçҹѰ»¨