secwatch.observer — SEC 8-K summary
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Issuer:     Liberty Broadband Corp (LBRDA)
CIK:        0001611983
Form:       8-K
Filed at:   2024-11-13T23:59:59+00:00
Accession:  0001104659-24-117312
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Liberty Broadband to merge into Charter: 0.236 share ratio, GCI spin-off ahead
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- Liberty Broadband shareholders receive 0.236 Charter Class A shares per common share; preferred shares exchanged for Charter preferred.
- Prior to closing, Liberty Broadband will spin off GCI into Spinco; Charter bears corporate-level tax on the divestiture.
- Malone and Maffei stockholders (~52% voting power) entered voting agreements to support the merger.
- Deal requires majority approvals from unaffiliated stockholders of both Liberty and Charter; includes $460M termination fee.
- Post-merger, former Liberty shareholders would own ~23% of Charter Class A common and ~24.2% of Charter voting power.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611983/000110465924117312/0001104659-24-117312-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611983/000110465924117312/tm2428162d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-117312

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