Liberty Broadband sells 10K GCI Liberty preferred shares to Janus for $10M in spin-off step

Liberty Broadband Corp

Liberty Broadband will sell 10,000 shares of GCI Liberty 12% Series A Cumulative Redeemable Preferred to Janus funds for $10M.
Closing requires completion of a reorganization where Liberty Broadband transfers GCI, LLC assets to GCI Liberty in exchange for preferred shares.
Shares carry mandatory redemption at $1,000 plus accrued dividends seven years after issuance; optional redemption after year five.
Transaction is in furtherance of the previously announced spin-off of GCI Liberty from Liberty Broadband.

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