Press Release
Altaba Announces Offering of Shares of Yahoo Japan Corporation
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy any securities in
Forward-Looking Statements
This press release contains "forward-looking statements," including statements relating to the transactions described herein, which reflect our current views with respect to, among other things, future events and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative versions of those words or other comparable words. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that our future plans, estimates or expectations will be achieved. Such forward-looking statements are subject to risks and uncertainties and assumptions relating to our portfolio investments, operations, financial results, financial condition, business prospects, liquidity and planned transactions. Factors which could have a material adverse effect on our operations, future prospects and value of our shares include, but are not limited to:
-
the risk that
Altaba may not be able to complete the sale of the Shares; -
the risk that
Altaba may not be able to achieve the benefits contemplated by the sale of the Shares; -
risks relating to the impact of the transactions on the value of
Altaba's holdings inYahoo Japan and onAltaba's net asset value; Altaba's ability to sell additional shares ofYahoo Japan at acceptable prices after the Offering;-
risks relating to the use by
Altaba of the proceeds of the sale ofYahoo Japan shares; -
the possibility of incurring certain tax liabilities, including
certain state and foreign taxes, and the availability of a foreign tax
credits with respect to
Altaba's federal income tax; -
the possibility that
Altaba will pursue other transactions or other actions, including continuing to sell shares ofYahoo Japan consistent withAltaba's previously announced intent, additional exchange offers of Alibaba ADSs (with or without cash) for shares, additional sales of Alibaba ADSs for cash, additional repurchases of shares either through tender offers or open market purchases using the proceeds from sales of Alibaba ADSs and/or shares ofYahoo Japan , converting to an open end fund to permit redemptions of shares in-kind for Alibaba ADSs and adoption of a plan of liquidation and dissolution followed by one or more distributions of cash and/or other assets pursuant to such plan; and Altaba's intention to retain sufficient assets to be able to satisfy or provide for its contingent liabilities before making any additional distributions to stockholders.
We do not undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise. The foregoing should be read in
conjunction with the other cautionary statements that are included
herein and elsewhere, including the risk factors described under the
caption "Principal Risks" in our Form N-CSR for the fiscal year end
View source version on businesswire.com: https://www.businesswire.com/news/home/20180910005313/en/
Source:
Investor Relations and Media Contact
Abernathy MacGregor
Alan
Oshiki, 212-371-5999
altaba@abmac.com