The offering is expected to settle and close on
The Selling Stockholders will receive all of the net proceeds from the sale of shares of FWONK. Liberty will not receive any proceeds from the sale of shares of FWONK on behalf of the Selling Stockholders in this offering.
Following the closing of the offering, the selling shareholders of
Formula 1 (the "Formula 1 Selling Shareholders") who acquired shares of
FWONK in January 2017 in connection with the Formula 1 Acquisition will
own approximately 3% of the equity of the Formula One Group, pro-forma
for the dilutive impact of the remaining exchangeable notes and assuming
no prior or subsequent acquisitions of Liberty Formula One common stock.
This ownership percentage is calculated based on approximately 230.8
million shares of Liberty Formula One common stock outstanding as of
Goldman Sachs & Co. LLC is acting as book-running manager for the
offering. When available, copies of the prospectus supplement for the
offering may be obtained on the website of the Securities and Exchange
Commission ("SEC"), www.sec.gov,
or by contacting Goldman Sachs & Co. LLC, Attn:
The shares of FWONK will be sold pursuant to an effective shelf
registration statement on Form S-3 previously filed with the
This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of FWONK or any other securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. The offering of these securities may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the pricing and intended closing of a public offering of shares of FWONK. 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, general market conditions. These forward-looking statements speak only as of the date of this press release, and Liberty expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty'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 Liberty, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, for risks and uncertainties related to Liberty's business which may affect the statements made in this press release.
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