Liberty Media Corporation Launches Offering of Series C Liberty Formula One Common Stock

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[{"type":"text","content":"\nExpect Proceeds Will Partially Fund MotoGP™ Acquisition and General Corporate Purposes\n\n\n ENGLEWOOD, Colo.--(BUSINESS WIRE)--\nLiberty Media Corporation (“Liberty Media”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLVYK) announced today a public offering of 10,650,000 shares of Series C Liberty Formula One Common Stock (“FWONK”). Liberty Media also expects to grant the underwriters of the offering an option to purchase up to an additional 1,597,500 shares of FWONK.\n\n\nLiberty Media intends to exercise its option to deliver additional cash in lieu of shares of FWONK as part of its previously disclosed proposed acquisition (the “Acquisition”) of Dorna Sports, S.L., such that all the consideration paid will be comprised of cash and no shares of FWONK will be issued to the sellers. Liberty Media expects to use the net proceeds from the sale of shares in this offering (i) to fund the increase in total cash consideration for the Acquisition, which is expected to close by year-end 2024 and (ii) for general corporate purposes, including the repayment of debt. Completion of the offering is not conditioned upon consummation of the Acquisition. If the Acquisition is not consummated for any reason, the net proceeds from this offering would be available for general corporate purposes and attributed to the Formula One Group tracking stock.\n\n\nGoldman Sachs & Co. LLC is acting as the sole underwriter for the offering.\n\n\nThe offering is being made pursuant to an effective registration statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”). The offering will be made only by means of the prospectus that forms a part of the registration statement, copies of which may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by phone at (866) 471-2526 or by email at [email protected]; or by visiting the EDGAR database on the SEC’s website at www.sec.gov.\n\n\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n\n\nFor...

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