8-K
filed July 18, 2023, 7:59 PM ET
ticker FWONA
CIK 0001560385
other material
confidence high
sentiment neutral
materiality 0.85
Liberty Media shareholders approve Braves split-off and tracking stock reclassification
Liberty Media Corp
- Split-off of Braves effective July 18, 2023; each Braves share exchanged one-for-one for Atlanta Braves Holdings shares.
- Approximately 10.3M Series A, 981K Series B, and 50.4M Series C Braves Holdings shares outstanding post-split.
- Reclassification effective Aug 3, 2023: each SiriusXM share becomes 1 new SiriusXM + 0.25 Liberty Live; each F1 share becomes 1 new F1 + 0.0428 Liberty Live.
- Formula One Distribution of ~6.8M Braves C shares to F1 holders on July 19, 2023; ratio 0.02896 per F1 share.
- Liberty Live stock to trade under LLYVA/LLYVK (A/C) and LLYVB (B) on Nasdaq/OTC; Braves Holdings BATRA/BATRK on Nasdaq, BATRB on OTC.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Liberty Media Corp shareholders approved The Split-Off Proposal to approve the redemption by the Company of each outstanding share of Liberty Braves common stock in exchange for one share of the corresponding series of common stock of Atlanta Braves Holdings, Inc. at the 2023-07-17 meeting.
- Proposal
- merger approval
- Outcome
- passed
- Meeting
- 2023-07-17
Exact text from the filing
At Liberty Media Corporation’s (the " Company ") special meeting of stockholders held on July 17, 2023 (the " Special Meeting "), the following proposals were considered and acted upon by the stockholders of the Company: (1) a proposal (the " Split-Off Proposal ") to approve the redemption by the Company of each outstanding share of Liberty Braves common stock in exchange for one share of the corresponding series of common stock of Atlanta Braves Holdings, Inc.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Liberty Media Corp shareholders approved The Liberty SiriusXM Recapitalization Proposal to reclassify each outstanding share of Liberty SiriusXM common stock into one share of the corresponding series of new Liberty SiriusXM common stock and 0.2500 of a share of the corresponding series of Liberty Live common stock at the 2023-07-17 meeting.
- Outcome
- passed
- Meeting
- 2023-07-17
Exact text from the filing
3. The Liberty SiriusXM Recapitalization Proposal Entitled to Vote Votes For Votes Against Abstentions Broker Non-Votes BATRA, BATRB, LSXMA, LSXMB, FWONA, FWONB 232,575,242 164,952 35,572 -
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Liberty Media Corp shareholders approved The Adjournment Proposal to approve the adjournment of the Special Meeting by the Company from time to time to solicit additional proxies at the 2023-07-17 meeting.
- Outcome
- passed
- Meeting
- 2023-07-17
Exact text from the filing
5. The Adjournment Proposal Entitled to Vote Votes For Votes Against Abstentions Broker Non-Votes BATRA, BATRB, LSXMA, LSXMB, FWONA, FWONB 229,441,074 3,282,273 52,419 -
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Liberty Media Corp shareholders approved The Liberty Formula One Recapitalization Proposal to reclassify each outstanding share of Liberty Formula One common stock into one share of the corresponding series of new Liberty Formula One common stock and 0.0428 of a share of the corresponding series of Liberty Live common stock at the 2023-07-17 meeting.
- Outcome
- passed
- Meeting
- 2023-07-17
Exact text from the filing
4. The Liberty Formula One Recapitalization Proposal Entitled to Vote Votes For Votes Against Abstentions Broker Non-Votes BATRA, BATRB, LSXMA, LSXMB, FWONA, FWONB 232,566,770 174,576 34,420 -
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Liberty Media Corp shareholders approved The Tracking Stock Proposal to approve the amendment and restatement of the Company’s restated certificate of incorporation to, among other things, following the completion of the Split-Off, reclassify the Company’s then-outstanding shares of common stock into three new tracking stocks at the 2023-07-17 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-07-17
Exact text from the filing
2. The Tracking Stock Proposal Entitled to Vote Votes For Votes Against Abstentions Broker Non-Votes BATRA, BATRB, LSXMA, LSXMB, FWONA, FWONB 232,574,650 177,996 23,120 -
View on SEC.gov
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