United Online Completes Tax-Free Spin Off of FTD
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WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Nov. 1, 2013--
United Online, Inc. (Nasdaq:UNTD) today announced that it has
successfully completed the separation of FTD Companies, Inc. (“FTD”)
from United Online, Inc. (“United Online”) through a tax-free dividend
involving the distribution of all FTD common stock held by United Online
to United Online’s stockholders. In addition, United Online also
announced the completion of a one-for-seven reverse stock split of
United Online shares. Under the terms of the distribution and the
reverse stock split:
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United Online stockholders were distributed one share of FTD common
stock for every five shares of United Online common stock they held as
of the close of business on October 10, 2013, the record date,
effective as of 12:01 a.m. Eastern Daylight Time (“EDT”) on November
1, 2013 (prior to giving effect to the reverse stock split of United
Online shares).
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United Online effected a one-for-seven reverse stock split of United
Online common stock at 11:59 p.m. EDT on October 31, 2013.
As of today, FTD is an independent, publicly-traded company on the
NASDAQ stock exchange, called FTD Companies, Inc. FTD will begin
“regular-way” trading today on the Nasdaq Global Select Market under the
symbol “FTD.”
United Online continues to operate the businesses of its Content & Media
and Communications segments, supported by the Classmates®,
StayFriends™, MyPoints®, NetZero®, and
Juno® brands. United Online’s common stock will begin trading
on a post one-for-seven reverse stock split basis today on the Nasdaq
Global Select Market under the symbol “UNTD.”
About United Online®
United Online, Inc. (Nasdaq: UNTD), through its operating subsidiaries,
is a leading provider of consumer products and services over the
Internet, where their respective brands have attracted a large online
audience that includes more than 100 million registered accounts
worldwide. United Online’s Content & Media segment provides online
nostalgia products and services (Classmates and StayFriends) and online
loyalty marketing (MyPoints). Its primary Communications segment service
is Internet access (NetZero and Juno), including NetZero Mobile
Broadband (NetZero Wireless).
Source: United Online, Inc.
United Online, Inc.
Investors:
David Bigelow, 818-287-3560
dbigelow@corp.untd.com
or
Press:
Scott
Matulis, 818-287-3388
pr@untd.com