FWONA - Liberty Media proposes private offering of $375M convertible senior notes

• Liberty Media Corporation intends to offer $375M of convertible senior unsecured notes in a private offering.
• Initial purchasers granted an option to purchase up to an additional $50M principal amount of Notes.
• The notes will be convertible into cash, shares of Liberty’s Series C Liberty Formula One common stock ( NASDAQ: FWONK ) or a combination thereof, at Liberty’s election.
• The notes, as well as the associated cash proceeds, will be attributed to the Liberty Formula One tracking stock group.
• Interest will be payable semi-annually in arrears.
• Liberty expects to use the net proceeds of the offering, together with cash on hand, to make repurchases of Liberty’s existing 1% cash convertible notes due 2023 and for general corporate purposes.
• FWONA stock down 14% PM.

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