BBIG - Vinco stocks gainson confirming distribution date for planned spin-off blockchain business Cryptyde

Vinco Ventures (NASDAQ:BBIG) shares jumped in premarket session after the company declared May 18, 2022 as the record date for the dividend of shares of common stock of Cryptyde (TYDE) to be distributed to Vinco stockholders in order to effect the separation of Vinco and Cryptyde into two independent, publicly traded companies. Each Vinco stockholder will receive one share of Cryptyde common stock for every 10 shares common stock held. The share dividend is expected to be distributed to Vinco (BBIG) stockholders on or about May 27, 2022. Following the separation, the stockholders will also receive cash in lieu of any fractional shares of Cryptyde common stock that those holders would have received after application of the 10:1 distribution ratio. Cryptyde common stock is expected to trade on the Nasdaq under the stock ticker symbol "TYDE" and Vinco will continue to trade on Nasdaq under the stock ticker symbol "BBIG." BBIG

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Vinco stocks gainson confirming distribution date for planned spin-off blockchain business Cryptyde