{"id":795092,"date":"2024-12-16T09:05:11","date_gmt":"2024-12-16T14:05:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/falcons-beyond-global-announces-filing-of-information-statement-relating-to-mandatory-exchange-of-warrants-aimed-at-simplifying-the-companys-capital-structure\/"},"modified":"2024-12-16T09:05:11","modified_gmt":"2024-12-16T14:05:11","slug":"falcons-beyond-global-announces-filing-of-information-statement-relating-to-mandatory-exchange-of-warrants-aimed-at-simplifying-the-companys-capital-structure","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/falcons-beyond-global-announces-filing-of-information-statement-relating-to-mandatory-exchange-of-warrants-aimed-at-simplifying-the-companys-capital-structure\/","title":{"rendered":"Falcon’s Beyond Global Announces Filing of Information Statement Relating to Mandatory Exchange of Warrants Aimed at Simplifying the Company’s Capital Structure"},"content":{"rendered":"

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Falcon’s Beyond Global Announces Filing of Information Statement Relating to Mandatory Exchange of Warrants Aimed at Simplifying the Company’s Capital Structure<\/b><\/p>\n

ORLANDO, Fla.–(BUSINESS WIRE<\/a>)–
\nFalcon\u2019s Beyond Global, Inc. (Nasdaq: FBYD) (\u201cFalcon\u2019s Beyond,\u201d \u201cFalcon\u2019s,\u201d or the \u201cCompany\u201d), a leading innovator in immersive storytelling through its divisions Falcon\u2019s Creative Group (\u201cFCG\u201d), Falcon\u2019s Beyond Destinations (\u201cFBD\u201d), and Falcon\u2019s Beyond Brands (\u201cFBB\u201d), today is pleased to announce that it has filed with the Securities and Exchange Commission its definitive Information Statement on Schedule 14C (the \u201cInformation Statement\u201d) pursuant to Section 14(c) of the Securities Exchange Act of 1934, as amended. The purpose of the Information Statement is to notify holders of the Company\u2019s publicly-traded warrants (the \u201cWarrants\u201d) of the mandatory exchange of the Warrants on October 6, 2028 (the \u201cExchange Date\u201d) for shares of the Company\u2019s Class A common stock, par value $0.0001 per share (\u201cClass A Common Stock\u201d) at an exchange ratio of 0.25 shares of Class A Common Stock per Warrant (the \u201cExchange Ratio\u201d). The Company mailed the Information Statement to the holders of the Warrants on December 13, 2024.<\/p>\n

\nThe mandatory exchange is pursuant to an amendment dated November 15, 2024 to the warrant agreement, dated November 3, 2023, by and between the Company and Continental Stock Transfer & Trust Company, the Warrant Agent. The amendment was authorized by holders of more than 50% of the Warrants.<\/p>\n

\nThis initiative simplifies the Company\u2019s capital structure and provides an opportunity for Warrant holders to convert their holdings into equity in Falcon\u2019s Beyond at a fixed exchange ratio.<\/p>\n

\n\u201cWe are pleased to announce the Warrant exchange as part of our efforts to simplify our capital structure. It\u2019s great to see Warrant holders actively working with us to achieve an amendment that we believe benefits to both the Company and its Warrant holders by increasing the chances that all Warrant holders receive an economic benefit from their Warrants, improving the probability of economic accretion to our stockholders by reducing the potential dilutive impact of the warrants, thereby providing us with more flexibility for financing our operations,\u201d said Simon Philips, President of Falcon\u2019s Beyond. \u201cThis action underscores our commitment to maximizing stockholder value and reflects our focus on creating an environment conducive to supporting the chances of long-term stock price appreciation.\u201d<\/p>\n

\nThe Amendment will become effective on January 14, 2025 (the \u201cEffective Date\u201d), the next business day following the twentieth business day after the mailing of the Information Statement to the holders of the Warrants. From the Effective Date until the Exchange Date, the Warrants will no longer be exercisable and will only entitle holders to receive shares of Class A Common Stock at the Exchange Ratio on the Exchange Date. The Warrants are expected to remain listed on Nasdaq until the Exchange Date, although continued listing after the Effective Date cannot be guaranteed.<\/p>\n

\nAfter the Effective Date, the Exchange Ratio will be appropriately adjusted in the event of any stock dividend, stock split, consolidation, combination, reverse stock split, or reclassification of shares of Class A Common Stock or other similar event. The Exchange Ratio will not be adjusted after the Effective Date to reflect the stock dividend declared by the Company on September 30, 2024 and payable on December 17, 2024.<\/p>\n

\nFor more information and the detailed description of the Amendment, see the Definitive Information Statement on Schedule 14C, filed by Falcon\u2019s with the SEC on December 13, 2024.<\/p>\n

About Falcon\u2019s Beyond<\/b><\/p>\n

Falcon\u2019s Beyond<\/b> is a visionary innovator in immersive storytelling, sitting at the intersection of three potential high growth business opportunities: content, technology, and experiences. Falcon\u2019s Beyond propels intellectual property (IP) activations concurrently across physical and digital experiences through three core business units:<\/p>\n