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Thursday, October 3, 2013

Equity Trader Alert #2013 - 92
NASDAQ Announces Spin off/Distribution and Reverse Split information for United Online, Inc. (UNTD)

Markets Impacted:

Contact Information:

  • NASDAQ Corporate Data Operations at +1 877 308 0523

What you need to know:

  • United Online, Inc. has announced a spin-off of FTD Companies, Inc. and a 1-7 Reverse Split.
  • An EX date for United Online, Inc. has been established for the spin-off of FTD Companies, Inc. An EX distribution when-issued market will be established for United Online, Inc. (UNTDV)
  • An effective date for 1-7 Reverse Split for United Online, Inc. has been established.
  • A when-issued market will be established for FTD Companies, Inc. (FTDDV)

What are the details of the distribution?

United Online, Inc. (UNTD) has announced a spin-off of FTD Companies, Inc. (FTDDV). The details of the distribution are as follows:

Company/Parent: United Online, Inc.
Issue: Common Stock
CUSIP: 911268100
Symbol: UNTD
Record Date: October 10, 2013
Payment Date: November 1, 2013
EX Date: November 1, 2013
Due Bill Redemption Date: November 6, 2013
Ratio of Spin Off/Distribution: One (1) share of FTD Companies, Inc. for every five (5) shares of United Online, Inc. held on a pre-reverse split basis.

What are the details of the reverse stock split?

United Online, Inc. (UNTD) has announced a One (1) for Seven (7) reverse split. The reverse split details are as follows:

Company/Parent: United Online, Inc.
Issue: Common Stock
CUSIP: 911268209
Symbol: UNTD
Legal Effective Date: October 31, 2013 at 11:59 PM ET
Marketplace Effective Date: November 1, 2013
Ratio of Reverse Split: One (1) share of United Online, Inc. New. for every seven (7) shares of United Online, Inc. currently held.

An EX distribution when-issued market will be established for United Online, Inc. Trades in the EX distribution when-issued market will not carry due-bills for the spin off/distribution and will be on a post-reverse split basis. The details for the EX distribution when-issued market are as follows:

Symbol: UNTDV
CUSIP: 911268209
Anticipated First Trade Date: October 10, 2013
Suspension Date: November 1, 2013
Settlement Date: November 6, 2013

A when-issued market will be established for FTD Companies, Inc. The first day of “regular way” trading will be November 1, 2013. The symbol will change to FTD on that date. The details for the when-issued market are as follows:

Symbol: FTDDV
CUSIP: 30281V108
Anticipated First Trade Date: October 10, 2013
First day of Regular Way Trading: November 1, 2013
Settlement Date: November 6, 2013

Please Note: On the EX date of November 1, 2013, the adjustment to United Online, Inc. (UNTD) will be reduced by the Spin-off value first and then the Reverse Stock Split.

Where can I find additional information?

  • For information on the distribution, contact Corporate Data Operations at +1 877 308 0523
  • If you would like to register as a market maker in UNTDV or FTDDV, contact NASDAQ OMX Trading Operations at +1 212 231 5100.

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