Paramount Skydance Corp Moves Listing to NYSE; Sets Warrant Record Date

What Happened

• Paramount Skydance Corporation (PSKY) filed an 8‑K on September 25, 2026 announcing two material actions: the Board authorized a voluntary transfer of its Class B common stock listing from The Nasdaq Global Select Market to the New York Stock Exchange (NYSE), and the Board set a record date of close of business on October 5, 2026 for a previously announced distribution of warrants tied to the company’s planned acquisition of Warner Bros. Discovery, Inc. (the “WBD Merger”).
• The company expects Nasdaq trading to end at market close on or about October 5, 2026 and NYSE trading to begin at market open on or about October 6, 2026. The company expects to distribute the Warrants on or about October 13, 2026, but the distribution is contingent on closing of the WBD Merger and may be postponed or canceled.

Key Details

• Board action date: September 25, 2026; expected Nasdaq end date: ~October 5, 2026; expected NYSE start date: ~October 6, 2026.
• Record Date for Warrant distribution: close of business October 5, 2026; expected Issue Date: on or about October 13, 2026 (subject to change).
• Approximately 470 million Warrants expected to be issued; each Warrant initially entitles holder to purchase one share of Class B common stock.
• Warrant exercise price: average VWAP for the 20 trading days ending on (and including) the 3rd business day prior to closing of the WBD Merger, subject to a floor of $12.00 and a cap of $16.02; Warrants expire at the earlier of the 10th anniversary of the Issue Date or an earlier redemption condition after the 3rd anniversary if share-price triggers are met.
• Certain holders are excluded from the distribution (the “Restricted Holders”), including Lawrence J. Ellison, David F. Ellison, Gerald J. Cardinale, The Lawrence J. Ellison Revocable Trust u/a/d 1/22/88 (as amended), and RedBird Capital Partners Fund IV (Master), L.P., plus affiliates/successors.

Why It Matters

• The listing transfer shifts where PSKY Class B shares will trade (from Nasdaq to NYSE) and establishes expected dates for that move, which investors should note for execution and liquidity considerations.
• The announced warrant distribution—if the WBD Merger closes—could issue roughly 470 million detachable warrants, which may affect capital structure and investor ownership once exercisable; exercise price limits and expiration mechanics are specified in the filing.
• The distribution is conditional on the completion of the Warner Bros. Discovery acquisition and the company may change or cancel the Record Date/Issue Date; PSKY posted a Warrant Distribution FAQ on its Investor Relations site for additional details.