Warner Music Group Announces Sale of 8,562,500 Shares of Common Stock by Affiliates of Access Industries
January 03 2022 - 4:21PM
Warner Music Group Corp. (the “Company”) (Nasdaq: WMG) today
announced the sale of an aggregate of 8,562,500 shares of the
Company’s Class A common stock (the “Offering”) 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 in the Offering,
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 the shares of Class
A common stock or any other securities and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to the
registration and qualification under the securities laws of 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.
Media Contact:James
StevenJames.Steven@wmg.com
Investor Relations Contact:Kareem
ChinKareem.Chin@wmg.com
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