Nasdaq files to delist Liberty Broadband shares after conversion
Nasdaq filed a Form 25 to delist Liberty Broadband's Class A and Class C common stock and preferred stock, following a corporate conversion.
What happened
On August 20, 2026, the Nasdaq Stock Market filed a Form 25 with the SEC to remove Liberty Broadband Corp's Class A Common Stock, Class C Common Stock, and Series A Cumulative Redeemable Preferred Stock from listing and registration. The filing cites a rule that applies when a security has been converted into another security or into cash, and the conversion has been completed.
Liberty Broadband, based in Englewood, Colorado, provides cable and other pay television services. Its shares rose 16.6% on the day of the filing to close at $35.99.
The Form 25 does not explain why the securities are being delisted; it only states that the exchange has complied with its rules to strike the securities from listing.
The filing
The Form 25 was filed by Nasdaq, not by Liberty Broadband. The form checks the box for rule 17 CFR 240.12d2-2(a)(3), which applies when a security has been converted into another security or into cash, and the conversion has been completed.
The filing also notes that the issuer has complied with exchange rules and SEC requirements for voluntary withdrawal of the securities, but the form does not specify whether the conversion was voluntary or forced.
No conversion ratio, cash amount, or other terms are included in the filing. The form only identifies the securities and the rule provision.
What this means
A Form 25 is the official notice a stock exchange files to remove a security from listing and deregister it under Section 12(b) of the Securities Exchange Act. When the box for rule (a)(3) is checked, it means the security has been converted into something else—like a new class of stock or a cash payment—and that conversion is done.
Because the form is filed by the exchange, it is the last step in a process that likely began with a shareholder vote or a board decision to convert the stock. The filing itself does not say what the shares were converted into, nor why the company chose to delist.
Once the Form 25 is effective, the shares will no longer trade on Nasdaq. Holders would have received the conversion proceeds—either new securities or cash—according to terms not disclosed in this filing. The date of the stock price jump suggests investors may have reacted to the news of the conversion or the delisting, but the filing alone does not provide the details.
Sources
- 25-NSE filed 2026-08-20
- Daily price history
Information summarized by AI from the sources listed above. May contain errors — informational only, not investment advice.