IAC Spinoff Set For Next Week
This story was written by David Kaplan.
IAC (NSDQ: IACI) finally has set the date for its long-awaited split into five separate companies to take place: Aug. 21. Before that, the "when-issued" trading period in the common stock of HSN, Inc., Interval Leisure Group, Inc., Ticketmaster and Tree.com, Inc. and IAC will happen Tuesday, Aug. 12. The trading will occur on a post-distribution and, in the case of IAC, a Board approved post-one-for-two reverse stock split, basis, under the symbols "HSNIV," "IILGV," "TKTMV," "TREEV" and "IACIV," respectively. The "when-issued" trading period comes following the SEC declaring the S-1 registration statements for each of the spincos effective, and will continue up until the spin-offs. Shares of IAC common stock will also trade on a regular way basis during the period under its existing symbol, "IACI."
By David Kaplan