Liberty TripAdvisor Holdings, Inc. Announces the Completion of the Repurchase of 39% of the Superb Sequence A Most well-liked Stock from Certares | Organization

ENGLEWOOD, Colo.–(Enterprise WIRE)–Mar 29, 2021–

Liberty TripAdvisor Holdings, Inc. (“Liberty TripAdvisor”) (Nasdaq: LTRPA, LTRPB) announced currently that it has accomplished the repurchase of 126,921 shares of its 8% Series A Cumulative Redeemable Most well-liked Inventory (“Preferred Shares”) in a personal transaction (the “Certares Transaction”) with an affiliate of Certares Management LLC (“Certares”), formerly declared by Liberty TripAdvisor.

The 126,921 Favored Shares repurchased by Liberty TripAdvisor under the repurchase agreement with Certares (the “Repurchase Agreement”) symbolize 39% of the Preferred Shares held by Certares, and were repurchased for an aggregate worth of somewhere around $344 million. Payment by Liberty TripAdvisor to Certares in connection with the Certares Transaction consisted of a mixture of:

  • somewhere around $252 million of income from a portion of the web proceeds from a formerly introduced presenting of .50% exchangeable senior debentures because of 2051 (the “Debentures”) and
  • somewhere around $92 million mixture value of Tripadvisor (“TRIP”) common stock owned by Liberty TripAdvisor, consisting of 1,713,859 shares.

The aspects of the Certares Transaction are consistent with the terms and problems declared in Liberty TripAdvisor’s push launch dated March 22, 2021. The 126,921 Preferred Shares repurchased will be retired.

Subsequent the completion of the Certares Transaction:

  • Liberty TripAdvisor has exceptional close to 198 thousand Most well-liked Shares with a redemption price, as of March 22, 2021, of approximately $538 million and
  • Liberty TripAdvisor owns roughly 16.4 million shares of Excursion frequent inventory and somewhere around 12.8 million shares of Excursion Course B prevalent stock (which are convertible into Trip common stock on a 1-for-1 foundation), representing an approximate 22% economic interest and 58% voting curiosity in Journey, centered on the total variety of shares of Trip frequent inventory and Excursion Course B common inventory exceptional as of February 12, 2021.

An further part of the Chosen Shares may well be repurchased if the initial purchasers in the beforehand declared featuring of Debentures exercising their solution to obtain further Debentures.

This press release does not represent an offer you to provide or the solicitation of an offer you to buy the Debentures nor shall there be any sale of the Debentures in any state in which such supply, solicitation or sale would be illegal prior to registration or qualification beneath the securities regulations of this sort of point out.

Ahead-Wanting Statements

This press launch includes certain ahead-hunting statements inside of the which means of the Private Securities Litigation Reform Act of 1995, such as statements relating to the retirement of Favored Shares and the more repurchase of Preferred Shares as a final result of the training of the first purchasers’ choice to purchase further Debentures. These ahead-searching statements require quite a few hazards and uncertainties that could result in genuine results to vary materially from individuals expressed or implied by such statements, such as, without limitation, typical market place problems. These ahead-on the lookout statements converse only as of the date of this press release, and Liberty TripAdvisor expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any ahead-hunting assertion contained herein to reflect any modify in Liberty TripAdvisor’s anticipations with regard thereto or any alter in occasions, disorders or conditions on which any these kinds of statement is primarily based. Be sure to refer to the publicly filed paperwork of Liberty TripAdvisor, like its most current Once-a-year Report on Sort 10-K, for challenges and uncertainties related to Liberty TripAdvisor which could have an effect on the statements manufactured in this push release.

About Liberty TripAdvisor Holdings, Inc.

Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA, LTRPB) is composed of its subsidiary Tripadvisor. Tripadvisor is the world’s most significant on the internet travel neighborhood, aggregating critiques and views from its neighborhood of vacationers about destinations, accommodations, dining places and actions through the entire world.

Make contact with: Liberty TripAdvisor Holdings, Inc.

Courtnee Chun, 720-875-5420


Sector Key phrase: On-line RETAIL Online Family vacation CRUISE OTHER Journey TRANSPORTATION Know-how LODGING Places Travel RETAIL AIR Transport

Supply: Liberty TripAdvisor Holdings, Inc.

Copyright Company Wire 2021.

PUB: 03/29/2021 06:30 PM/DISC: 03/29/2021 06:30 PM

Copyright Organization Wire 2021.