Warner Music Group Announces Sale of 2,340,000 Shares of Common Stock by Affiliates of Access Industries
September 21 2021 - 4:29PM
Warner Music Group Corp. (the “Company”) (Nasdaq: WMG) today
announced the sale of an aggregate of 2,340,000 shares of the
Company’s common stock by affiliates of Access Industries, LLC (the
“Selling Stockholders”) to Morgan Stanley & Co. LLC, as the
sole underwriter in the registered public offering of those shares.
The Selling Stockholders are selling all of the shares of Class A
common stock, and the Company will not receive any proceeds from
the offering.
Morgan Stanley & Co. LLC proposes to offer for sale the
shares of common stock from time to time in one or more
transactions on Nasdaq, in the over-the-counter market, through
negotiated transactions or otherwise at a fixed price or prices,
which may be changed, subject to receipt and acceptance by it and
subject to its right to reject any order in whole or in part.
The Company’s effective registration statement, including a
prospectus, relating to the offering was previously filed with the
U.S. Securities and Exchange Commission (the “SEC”). Investors
should read the prospectus in that registration statement and other
documents the Company has filed with the SEC before investing for
more complete information about the Company and this offering.
These documents are available for free by searching for the
Company’s public filings on the SEC’s website at www.sec.gov, or by
visiting the Company’s website at https://investors.wmg.com/.
Alternatively, copies of the prospectus and prospectus supplement,
when available, may be obtained from Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Warner Music Group
With a legacy extending back over 200 years, Warner Music Group
today is home to an unparalleled family of creative artists,
songwriters, and companies that are moving culture across the
globe. At the core of Warner Music Group’s Recorded Music division
are four of the most iconic companies in history: Atlantic,
Elektra, Parlophone and Warner Records. They are joined by renowned
labels such as Asylum, Big Beat, Canvasback, East West, Erato,
FFRR, Fueled by Ramen, Nonesuch, Reprise, Rhino, Roadrunner, Sire,
Spinnin’ Records, Warner Classics and Warner Music Nashville.
Warner Chappell Music - which traces its origins back to the
founding of Chappell & Company in 1811 - is one of the world’s
leading music publishers, with a catalog of more than one million
copyrights spanning every musical genre from the standards of the
Great American Songbook to the biggest hits of the 21st
century.
Forward-Looking Statements
This communication includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements include
statements regarding expectations as to the closing of the
offering. The forward-looking statements contained herein involve
risks and uncertainties that could cause actual results to differ
materially from those referred to in the forward-looking
statements. More information about Warner Music Group and other
risks related to Warner Music Group are detailed in Warner Music
Group’s most recent annual report on Form 10-K and its quarterly
reports on Form 10-Q and current reports on Form 8-K as filed with
the SEC. Warner Music Group does not undertake an obligation to
update forward-looking statements.
Additional factors that may affect future
results and conditions are described in Warner Music Group’s
filings with the SEC, which are available at the SEC’s web site at
www.sec.gov or at Warner Music Group’s website at www.wmg.com.
Media Contact:
James StevenJames.Steven@wmg.com
Investor Relations Contact:
Kareem ChinKareem.Chin@wmg.com
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