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Stock Market & Financial Investment News

News Breaks
August 4, 2014
08:06 EDTDMDDemand Media completes tax-free spin-off of Rightside Group
Demand Media announced the successful completion of the separation of Rightside Group from Demand Media in the form of a tax-free dividend involving the distribution of all outstanding shares of Rightside common stock to holders of Demand Media common stock. Under the terms of the distribution, on August 1, Demand Media stockholders as of the close of business on July 25, the record date for the distribution, received one share of Rightside common stock for every five shares of Demand Media common stock held on the record date. Immediately following the distribution, Demand Media enacted a 1-for-5 reverse stock split of its outstanding and treasury shares of common stock. Demand Media will trade “regular-way” on a post reverse stock split basis on the New York Stock Exchange under the symbol “DMD” and Rightside will trade “regular-way” as a separate publicly traded company on the Nasdaq Global Select Market under the symbol “NAME."
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