Liberty Media and Sirius XM announce final exchange ratio for split-off merger; closing Sept 9

SIRIUS XM HOLDINGS INC.

Final exchange ratio: 0.8375 New Sirius shares per Liberty SiriusXM share; Sirius XM holders get 0.1 New Sirius per share.
Split-off and merger expected to close on Sept 9, 2024; New Sirius shares to trade on Nasdaq as SIRI on Sept 10.
Pro forma: ~339.1M shares outstanding; ~81% owned by former Liberty holders, ~19% by former Sirius XM minority.
New public company will operate under Sirius XM name and brand; cash paid for fractional shares.
Conditions must be satisfied or waived; transaction creates a simplified ownership structure.

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