Liberty Media International Inc. filed a distribution plan with the Securities and Exchange Commission Friday.
The Liberty Media Corp. spinoff said holders of record of series-A common stock will receive a fraction of a series-A right for each share held. Each whole series-A right will entitle the holder to purchase one share of series-A common stock at the as-yet-undetermined subscription price.
The same terms apply to holders of record of series-B common stock.
In addition, each rightsholder who exercises all of the rights will be entitled to subscribe, at the same per-share subscription price, for up to that number of shares of the applicable series of common stock not purchased by other holders of the same series of rights, subject to proration if the oversubscription privilege is oversubscribed. The subscription price must be paid in cash.
LMI expects proceeds of around $500 million from the offering.