Vinco Ventures (NASDAQ: BBIG) announce their record and distribution date for Cryptyde (NASDAQ: TYDE) after the market closed on Thursday. May 18, 2022 is that date.
Each Vinco stockholder of record as of the close of business on May 18, 2022 will receive, on the distribution date, one share of Cryptyde common stock for every 10 shares of Vinco common stock held. The share dividend is expected to be distributed to Vinco stockholders on or about May 27, 2022. Following the separation, Vinco 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. No action is required by Vinco stockholders in order to receive the shares of Cryptyde common stock in the dividend distribution.
During the Q4 earnings call, The company’s CEO Lisa King had announced that the company is expecting to announce its record date, sometime in Q2 and the spin-off would be completed in the same quarter.
The stock was up 42% (at the time of writing) during after market hours following the announcement.
