Paramount Skydance advances WBD acquisition; equity syndication with sovereign funds, warrant dividend to shareholders
Paramount Skydance Corp
Acquiring Warner Bros. Discovery for $31/share in cash, with Ellison Guarantee covering up to $45.72B equity funding.
PIPE $46.72B from Ellison parties & $250M from RedBird syndicated to PIF, L'Imad, QIA, LionTree.
Rights offering cancelled; each Class B holder gets one warrant per share (10-year term, exercise price = Syndication Purchase Price, $12–$16.02 floor/ceiling).
Charter amendment authorized: Class B shares increased to 7B, dividends on Class B allowed with Class A consent.
Paramount Skydance Corp: Certificate of Amendment filed to increase authorized Class B Common Stock from 5.5 billion to 7 billion shares and permit conditional dividend preference for Class B over Class A shares (effective 2026-04-07).
Change
charter amendment
Effective
2026-04-07
Exact text from the filing
On April 7, 2026, Paramount Skydance Corporation (“PSKY”) filed a Certificate of Amendment (the “Certificate of Amendment”) to PSKY’s Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to (i) increase the number of authorized shares of PSKY Class B Common Stock from 5,500,000,000 to 7,000,000,000 shares and (ii) permit the PSKY Board of Directors (the “PSKY Board”) to declare and pay a dividend to the holders of PSKY Class B Common Stock without being required to declare and pay a corresponding dividend to the holders of PSKY Class A Common Stock, subject to the prior written consent or approval of the holders of all of the outstanding shares of PSKY Class A Common Stock.
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.