Liberty Media Corporation Launches Offering Of 10.65M Series C Liberty Formula One Common Stock
Portfolio Pulse from Benzinga Newsdesk
Liberty Media Corporation announced a public offering of 10.65 million shares of Series C Liberty Formula One Common Stock (FWONK) to partially fund the MotoGP acquisition and for general corporate purposes. An option for underwriters to purchase an additional 1.6 million shares is also expected.
August 20, 2024 | 8:24 pm
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Liberty Media is issuing 10.65 million shares of FWONK to fund the MotoGP acquisition and other purposes. This could lead to short-term stock price pressure due to increased supply.
The issuance of new shares typically increases the supply of stock, which can lead to downward pressure on the stock price in the short term. The funds are intended for the MotoGP acquisition and general corporate purposes, which may be positive in the long term but could cause short-term volatility.
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