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United Online Inc Completes Tax-Free Spin Off Of FTD Companies, Inc.


Friday, 1 Nov 2013 09:00am EDT 

United Online Inc announced that it has completed the separation of FTD Companies, Inc. (FTD) from United Online, Inc. (United Online) through a tax-free dividend involving the distribution of all FTD common stock held by United Online to United Online's stockholders. In addition, United Online also announced the completion of a one-for-seven reverse stock split of United Online shares. Under the terms of the distribution and the reverse stock split: United Online stockholders were distributed one share of FTD common stock for every five shares of United Online common stock they held as of the close of business on October 10, 2013, the record date, effective as of 12:01 a.m. Eastern Daylight Time (EDT) on November 1, 2013 (prior to giving effect to the reverse stock split of United Online shares). United Online effected a one-for-seven reverse stock split of United Online common stock at 11:59 p.m. EDT on October 31, 2013. As of today, FTD is an independent, publicly-traded company on the NASDAQ stock exchange, called FTD Companies, Inc. FTD will begin 'regular-way' trading today on the Nasdaq Global Select Market under the symbol 'FTD'. United Online continues to operate the businesses of its Content & Media and Communications segments, supported by the Classmates, StayFriends, MyPoints, NetZero, and Juno brands. United Online's common stock will begin trading on a post one-for-seven reverse stock split basis on the Nasdaq Global Select Market under the symbol 'UNTD'. 

Company Quote

9.68
-0.01 -0.10%
11 Jul 2014