Sinclair Broadcast Group subsidiary Diamond Sports Holdings LLC has redeemed 350,000 of its Preferred Units, using cash dividends from its indirect subsidiary, Diamond Sports Group LLC.
In accordance with the terms of the Amended and Restated Limited Liability Company Agreement of Diamond Sports Holdings, the Redeemed Preferred Units were redeemed for an aggregate redemption price equal to $350 million, representing 100% of the unreturned capital contribution with respect to such Redeemed Preferred Units, plus $3,850,000 in accrued and unpaid dividends, with respect to such Redeemed Preferred Units up to, but not including, the redemption date, for a total redemption amount of $353,850,000.
After giving effect to the partial redemption, 175,000 Preferred Units of Diamond Sports Holdings remain outstanding.
