Summary by Moomoo AI
On June 16, 2024, Sirius XM Holdings Inc., known as SiriusXM, and Liberty Media Corporation, along with its subsidiaries, entered into amendments to their December 2023 Reorganization and Merger Agreements. These amendments adjust the exchange ratios to reduce the total number of outstanding shares of New Sirius common stock post-transaction. Specifically, the number of New Sirius shares to be issued to Liberty SiriusXM Common Stock holders will be reduced by 90%, and SiriusXM stockholders will receive 1 New Sirius share for every 10 SiriusXM shares held, with cash in lieu of fractional shares. The changes aim to preserve the transaction's economics, align share prices post-transaction, and potentially enhance the stock's market appeal. The conversion of Sirius XM Radio Inc. to a limited...Show More