Liberty Media Corporation Prices $825.375M Offering Of 10.65M Series C Liberty Formula One Common Stock At A Price Of $77.50/Share
Portfolio Pulse from Benzinga Newsdesk
Liberty Media Corporation has announced the pricing of its public offering of 10.65 million shares of Series C Liberty Formula One Common Stock (FWONK) at $77.50 per share, aiming to raise $825.375 million. The proceeds will partially fund the acquisition of Dorna Sports, S.L., and for general corporate purposes.
August 21, 2024 | 12:18 pm
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Liberty Media's offering of FWONK shares is priced at $77.50, raising $825.375M to fund the acquisition of Dorna Sports and for corporate purposes. This move could impact FWONK's stock price as it involves significant capital raising and strategic acquisition.
The offering is directly related to FWONK as it involves issuing new shares to raise capital. The funds will be used for a strategic acquisition and corporate purposes, which could positively impact the stock price if the acquisition is successful and enhances Liberty Media's business.
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