Liberty Broadband Closes Private Offering of 2.75% Exchangeable Senior Debentures due 2050

Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK) has announced that it has closed its previously announced private offering of USD 575 million aggregate original principal amount of its 2.75% exchangeable senior debentures due 2050 exchangeable for Charter Communications, Inc, the company said.

Class A common stock, including Debentures in an aggregate original principal amount of USD 75 million issued pursuant to the exercise of an option granted to the initial purchasers, which was exercised in full on August 25, 2020.

Upon an exchange of Debentures, Liberty Broadband, at its option, may deliver shares of Charter Class A common stock or, the value thereof in cash or a combination of shares of Charter Class A common stock and cash.

Liberty Broadband intends to use the net proceeds of the offering for general corporate purposes, which may include the repurchase of shares of Liberty Broadband common stock.

Liberty Broadband´s businesses consist of its interest in Charter and its subsidiary Skyhook.