AIV - Aimco sets dates for Apartment Income REIT split

Proceeding with its planned separation from its Apartment Income REIT ("AIR") unit against the objections of investor Jonathan Litt, Apartment Investment and Management Company (AIV), or Aimco, sets Dec. 5, 2020 as the record date for the separation.The transaction will occur via a pro rata distribution in which stockholders of Aimco will get one share of class A common stock of AIR for every share of Aimco class A common stock they hold at the close of the record date.The distributions are expected to be completed before trading hours on Dec. 15.A "when-issued" market for AIR class A common stock will exist starting on Dec. 3, 2020 and continuing until just before trading hours on Dec. 15.Separately, Aimco announced the ratio for its reverse stock split.Previously: Aimco ignores call for special meeting on reverse spinoff, Litt says (Nov. 23)

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Aimco sets dates for Apartment Income REIT split