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Friday, April 17, 2015

Equity Trader Alert #2015 - 47
Nasdaq Announces Spin-off, Cash Dividend, and Reverse Split Information for Windstream Holdings, Inc. (WIN)

Category:

  • Industry Announcement

Markets Impacted:

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Windstream Holdings, Inc. has announced a spin-off of Communications Sales & Leasing, Inc., a cash dividend representing the pro rated amount of the company's ordinary $0.25 quarterly dividend, through the date of the spin-off, and a reverse stock split.

An EX date for Windstream Holdings, Inc. has been established for the spin-off of Communications Sales & Leasing, Inc. and the cash dividend. An EX distribution when-issued market will be established for Windstream Holdings, Inc. (WINVV).

An effective date for a one (1) for six (6) reverse stock split for Windstream Holdings, Inc. has been established.

A when-issued market will be established for Communications Sales & Leasing, Inc. (CSALV).

The details of the distribution are as follows:

Company/ Parent: Windstream Holdings, Inc.
Issue: Common Stock
CUSIP: 97382A101
Symbol: WIN
Record Date: April 10, 2015
Payment Date: April 24, 2015
EX Date: April 27, 2015
Due Bill Redemption Date: April 29, 2015
Ratio of Spin-Off:
 One (1) share of Communications Sales & Leasing, Inc. for every five (5) shares of Windstream Holdings, Inc. held on a pre-reverse split basis
Dividend Amount Per Share:
 $0.0659

The reverse split details are as follows:

Company: Windstream Holdings, Inc.
Issue: Common Stock
New CUSIP: 97382A200
Symbol: WIN
Marketplace Effective Date: April 27, 2015
Ratio of Reverse Split: One (1) share of Windstream Holdings, Inc. new for every six (6) shares of Windstream Holdings, Inc. currently held

An EX distribution when-issued market will be established for Windstream Holdings, Inc. Trades in the EX distribution when-issued market will not carry due bills for the spin-off or the pro rated cash dividend and will be on a post-reverse stock split basis. The details for the EX distribution when-issued market are as follows:

Symbol: WINVV
CUSIP: 97382A200
First Trade Date: April 20, 2015
Suspension Date: April 27, 2015
Settlement Date: April 30, 2015

A when-issued market will be established for Communications Sales & Leasing, Inc. The first day of “regular way” trading will be April 27, 2015. The symbol will change to CSAL on that date. The details for the when-issued market are as follows:

Symbol: CSALV
Issue: Common Stock
CUSIP: 20341J104
First Trade Date: April 20, 2015
First Day of Regular Way Trading: April 27, 2015
Settlement Date: April 30, 2015

Please Note:  On the EX date of April 27, 2015, the price of Windstream Holdings, Inc.’s common stock (WIN) will be reduced by the spin-off and cash dividend value first and then adjusted for the reverse stock split.

For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523.

If you would like to register as a market maker in WINVV or CSALV, contact Nasdaq Trading Services at +1 212 231 5100.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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