Spin-Off Securities definition
Examples of Spin-Off Securities in a sentence
In connection with a Spin-Off, such notice shall also include a statement by the Company as to whether it has elected to exercise its Delivery of Spin-Off Securities Option.
If the Company elects the Delivery of Spin-Off Securities Option, the Company must issue a press release through the PR Newswire (or another comparable or successor service) prior to the opening of business on the ex- dividend date with respect to such Spin-Off that it elects to deliver Spin-Off Securities in lieu of adjusting the Exchange Ratio as described in the immediately preceding paragraph.
Such adjustment shall occur at the Close of Business on the 10th Trading Day from, and including, the effective date of the Spin-Off; provided, however, that the Company may in lieu of the foregoing adjustment elect to make adequate provision so that each Holder of Notes shall have the right to receive upon conversion thereof the amount of such Spin-Off Securities that such Holder of Notes would have received if such Notes had been converted on the record date with respect to such distribution.
For purposes of delivering cash in lieu of delivering Spin-Off Securities at Maturity, or, if the Company elects to deliver Spin-Off Securities at Maturity, for purposes of valuing the Spin-Off Securities delivered at Maturity, the value of the Spin-Off Securities would be an amount equal to the average of the Volume Weighted Average Prices per share or security of such Spin-Off Securities for the 20 Trading Days ending two Business Days prior to Maturity.
For purposes of delivering cash in lieu of delivering Spin-Off Securities at Maturity, or, if the Company elects to deliver Spin-Off Securities at Maturity, for purposes of valuing the Spin-Off Securities delivered at Maturity, the value of the Spin-Off Securities would be an amount equal to the average Closing Price per share or security of such Spin-Off Securities for the 20 Trading Days ending on the Business Day prior to Maturity.