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ENGLEWOOD, Colo. - GCI Liberty, Inc. (NASDAQ:GLIBA, NASDAQ:GLIBK), currently trading at $37.02 with a market capitalization of $1.07 billion, announced Wednesday that its Board of Directors has declared a dividend of pro rata subscription rights to acquire shares of its Series C GCI Group common stock with an intended offering price of $300 million.
The rights will be distributed to holders of Series A, Series B, and Series C GCI Group common stock as of November 24, 2025. The offering is expected to commence on November 26 and expire on December 17, 2025, subject to extension.
Each right will provide holders with a basic subscription privilege to acquire one share of GLIBK at approximately 20% discount to the volume weighted average trading price over a ten consecutive trading day period to be determined before the offering begins. Rights holders who exercise their basic subscription privilege in full will also have an oversubscription privilege to acquire additional shares at the same discounted price.
John C. Malone, Chairman of GCI Liberty's Board, has indicated his intention to exercise his basic subscription privilege in full and to acquire any remaining shares through his oversubscription privilege.
The rights will be transferable and are expected to trade on the Nasdaq Global Select Market under the symbol GLIBR beginning November 26, 2025.
GCI Liberty plans to use the net proceeds for general corporate purposes, including working capital, capital expenditures, debt repayment, potential acquisitions in Alaska, or opportunistic investments.
Morgan Stanley & Co. LLC will serve as the financial advisor for the rights offering, according to the press release statement.
The Alaska-based communications provider has invested $4.7 billion in its network and facilities over the past 45 years, serving more than 200 communities throughout the state.
In other recent news, GCI Liberty Inc. reported a 6% increase in total revenue for the second quarter of 2025, bringing the figure to $261 million. Additionally, the company saw a 26% growth in adjusted OIBDA, which reached $108 million. These financial results indicate ongoing strategic shifts within the company, including network upgrades and potential acquisitions. While the company's stock price experienced a modest increase, the focus remains on its financial performance and strategic developments. Analyst firms have not provided any recent upgrades or downgrades for GCI Liberty, but the company's efforts in network improvements and acquisition strategies suggest a proactive approach to growth. These developments are among the latest updates from the company.
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