Summary
Liberty Media Corporation (FWONK) filed an 8-K on May 6, 2016, primarily to disclose proposed terms for an upcoming rights offering. This offering will allow holders of Series A, Series B, and Series C Liberty Braves common stock to acquire additional shares of Series C Liberty Braves common stock. The details of this rights offering are outlined in a press release issued on May 5, 2016, which is incorporated by reference into this filing. Investors should pay close attention to the terms of this rights offering as it represents a mechanism for existing shareholders to increase their stake in the Liberty Braves tracking stock. The press release, filed as Exhibit 99.1, contains the specific details and proposed terms that will govern this distribution and subsequent offering. While this filing is made under Regulation FD to ensure public disclosure, it is important to note that it is furnished and not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
Key Highlights
- 1Liberty Media announced proposed terms for a rights offering related to its Liberty Braves common stock.
- 2The rights offering will allow existing holders of Series A, B, and C Liberty Braves common stock to purchase additional Series C Liberty Braves common stock.
- 3The announcement was made via a press release dated May 5, 2016, incorporated into the 8-K filing.
- 4The purpose of the filing is to satisfy Regulation FD disclosure requirements.
- 5This filing is furnished and not deemed 'filed' for certain regulatory purposes.
- 6The press release (Exhibit 99.1) contains the specific details of the proposed rights offering terms.