IAC already said it planned for its spincos to take on debt, the proceeds of which would be transfered back to New IAC (NSDQ: IACI). In a new filing, the company says it expects to take in $1.53 billion in the process: $390 million from HSN, $390 million from Interval and $750 million from TicketMaster (as had been previously announced). Note that the final net benefit will come out a bit lower, since it says it will pay an unspecified amount to troubled LendingTree prior to the spin.
-- Tickers: A new detail since the last filing, here's what the companies will trade under, all on the NASDAQ: HSNI (HSN), IILG (SEO: 066570) (Interval), TKTM (TicketMaster), TREE (LendingTree).
-- Distribution: Pretty straightforward: For every share of IAC you own, you'll get 1/5th of a share of each of the spins, by way of a pro rata dividend.
By Joseph Weisenthal