Wednesday, April 16, 2014
Equity Trader Alert #2014 - 31
NASDAQ announces Spin off/Distribution information for SLM Corporation (SLM)
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An EX date for SLM Corporation has been established for the spin-off of Navient Corporation. An EX distribution when issued market will be established for SLM Corporation (SLMVV). A when issued market will be established for Navient Corporation (NAVIV). Details of the DistributionSLM Corporation (SLM) has announced a spin-off of Navient Corporation (NAVI). The details of the distribution are as follows:
An EX distribution when issued market will be established for SLM Corporation. Trades in the EX distribution when issued market will not carry due-bills for the spin off/distribution. The details for the EX distribution when issued market are as follows:
A when issued market will be established for Navient Corporation. The first day of "regular way" trading will be May 1, 2014. The symbol will change to NAVI on that date. The details for the when issued market are as follows:
Please Note: Prior to the distribution of Navient Corporation, SLM Corporation will undergo a Formation of Holding Company reorganization. There will be no change to the name, symbol, or CUSIP number of SLM Corporation as a result of this transaction.
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