Summary by Moomoo AI
On September 4, 2024, Sirius XM Holdings Inc. and Liberty Media Corporation announced the final exchange ratio for their upcoming transactions, set to take place on September 9, 2024. The transactions include a redemptive split-off of Liberty Sirius XM Holdings Inc. and a subsequent merger with Sirius XM. Liberty Media will redeem each outstanding share of its Series A, B, and C Liberty SiriusXM common stock for 0.8375 of a share of the new company's common stock, with cash paid for fractional shares. Following the split-off, a subsidiary of the new company will merge with Sirius XM, with Sirius XM stockholders receiving 0.1 of a share of the new company's common stock, again with cash in lieu of fractional shares. The new company will be named Sirius XM Holdings Inc. and will trade on Nasdaq under the ticker symbol 'SIRI' starting September 10, 2024. Post-transaction, former Liberty SiriusXM stockholders will own approximately 81% of the new company, with the remaining 19% owned by former Sirius XM minority stockholders.
