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Thursday, March 31, 2022
Equity Corporate Actions Alert #2022 - 63
(UPDATED: Closing Effected): Information Regarding the Listing of Warner Bros. Discovery, Inc. and the Merger of Discovery, Inc. (DISCA/DISCB/DISCK)
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Markets Impacted:Contact Information:
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On March 25, 2022, AT&T Inc. (NYSE: T) announced the declaration of a stock dividend whereby holders of AT&T common stock as of April 5, 2022, the stock dividend record date, will be entitled to receive shares of WarnerMedia SpinCo, in connection with the previously announced transaction to combine Discovery, Inc. (to be renamed Warner Bros. Discovery, Inc.) with AT&T's WarnerMedia business. On the closing date of the transaction, AT&T stockholders will receive an estimated 0.24 shares of Warner Bros. Discovery, Inc. common stock for each share of AT&T common stock, and all outstanding Discovery, Inc. capital stock will be reclassified into shares of Warner Bros. Discovery, Inc. common stock. The shares of Warner Bros. Discovery, Inc. were listed on the Nasdaq Global Select Market beginning on April 4, 2022, on a when-issued basis under the symbol WBDWV. The shares of Discovery, Inc. (DISCA, DISCB, DISCK) will be suspended from listing prior to the open of business on Monday, April 11, 2022.
The details of the suspensions are follows:
A when issued market was established for Warner Bros. Discovery, Inc. under the symbol WBDWV. The details for the when issued market are as follows:
The first day of “Regular Way” trading will be April 11, 2022. The symbol will change to WBD on that date.
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For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523 or Jay Heller at +1 212 401 8932.
If you would like to register as a market maker in WBD contact Nasdaq Trade Desk at +1 212 231 5100.
For information about the record date of the distribution and ex-distribution when issued trading of AT&T (NYSE: T), contact NYSE Market Operations at service.desk@nyse.com or +1 212 896 2830.
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