Liberty has been informed by the subscription agent that the rights offering was fully subscribed, with 29,594,089 shares of Series C Liberty SiriusXM common stock to be issued to those rightsholders exercising basic and, if applicable, oversubscription privileges. Approximately 97% of the shares to be issued as a result of the rights offering were subscribed for pursuant to validly exercised basic subscription privileges. As a result, the remaining shares available for issuance to those rightsholders validly exercising oversubscription privileges will be allocated pro rata based on the number of rights underlying such rightsholders’ basic subscription privilege. There is no single proration factor for this allocation due to the process by which the subscription agent allocates the remaining shares, which involves multiple rounds of proration among the validly oversubscribing rightsholders.
Liberty expects the subscription agent to distribute the shares of Series C Liberty SiriusXM common stock purchased in the rights offering on or about
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 offering, including expectations regarding timing of distribution of the shares of Series C Liberty SiriusXM common stock and of distribution of refunds for unfulfilled oversubscriptions, 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. 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 the most recent Forms 10-K and 10-Q, for additional information about Liberty and about the risks and uncertainties related to Liberty’s business which may affect the statements made in this press release.
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