---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-095991"
form_type: "8-K"
ticker: "FWONA"
cik: "0001560385"
company_name: "Liberty Media Corp"
filed_at: "2026-08-13T20:38:33+00:00"
generated_at: "2026-08-13T20:39:08.457061+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Liberty Media prices $690M 2.375% convertible notes due 2032; conversion at $138.68

## Summary
- $690M aggregate principal of 2.375% Senior Convertible Notes due 2032; $90M option exercised in full by initial purchasers.
- Notes convertible into FWONK at $138.68/share (7.2106 shares per $1,000), ~35% premium to $102.73 Aug 10 close.
- Net proceeds ~$680M; used for capped call costs on 2027 Notes, working capital, and repayment of 2027 Notes.
- Concurrently entered capped call transactions on 2.25% 2027 Notes to offset dilution/cash payments on conversion.
- Matures Aug 15, 2032; interest semi-annual from Feb 15, 2027; redeemable from Aug 20, 2029 if FWONK ≥130% of conversion price.

## SEC filing metadata
- accession: 0001104659-26-095991
- form_type: 8-K
- ticker: FWONA
- cik: 0001560385
- company_name: Liberty Media Corp
- filed_at: 2026-08-13T20:38:33+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560385/000110465926095991/0001104659-26-095991-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560385/000110465926095991/tm2622631d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-095991
- JSON: https://secwatch.observer/filing/0001104659-26-095991.json
- Plain text: https://secwatch.observer/filing/0001104659-26-095991.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.