Moreover, on May 25, 2021, IAC completed spin-off of its entire stake in video software company, Vimeo. IAC/InterActiveCorp (IAC) reported 2Q21 results, wherein top line increased 26.0% YOY, supported by growth across all the segments. The transaction was tax-free to IAC and its shareholders. Post separation, IAC continues to trade on NASDAQ under the ticker IAC, while Vimeo started to trade on NASDAQ under the ticker VMEO. Both the stocks commenced regular-way trading on May 25, 2021. On May 19, 2021, Vimeo’s common stock started when-issued trading under the ticker “VMEOV” while, IAC did not record any trade in the when-issued trading window. The spin-off ratio was 1.6235:1, implying each IAC shareholder received ~1.6235 shares of Vimeo common stock for each share of IAC‘s common stock. The record date and distribution date for the transaction was May 24, 2021. On May 5, 2021, Vimeo announced details and timeline of the spin-off. Previously on December 23, 2020, IAC had filed initial Form S-4 with the SEC. On April 6, 2021, IAC filed amended Form S-4 with the SEC. On May 14, 2021, IAC shareholders voted in favor of the proposal to effect Vimeo’s spin-off. Through its cloud platform, Vimeo provides a one-stop solution for all business needs of local small and medium businesses (“SMBs”) as well as global companies. On December 22, 2020, IAC announced that the company’s Board of Directors has approved a plan to spin-off its entire stake in video software company, Vimeo. IAC/InterActiveCorp Price Performance Spin-Off Research Diluted earnings per share stood at $2.02 (2Q20: -$1.13). Net earnings attributable to IAC shareholders jumped to $194.8 million (2Q20: loss of $96.1 million). Consequently, Adjusted EBITDA margin expanded to 3.2% (2Q20: 3.0%). This was partially offset by operating weakness at ANGI Inc., wherein the segment recorded Adjusted EBITDA loss of $4.4 million (2Q20: $57.9 million). consensus), driven by growth in Dotdash (Adjusted EBITDA: 69.4% YOY), Search (+173.4%), Inter-segment eliminations corrected (+61.0%) and Emerging & Others stood at $6.9 million (2Q20: -$2.6 million). Adjusted EBITDA grew 34.7% to $26.4 million (-8.2% vs. consensus), driven by broad based growth across all operating segments including ANGI Inc. Total revenue increased 25.9% YOY to $829.4 million (-8.0% vs. NDAQ: IAC, $130.07, Market Capitalization: $11.6 billion) announced 2Q21 results. (AP Photo/Mark Lennihan) ASSOCIATED PRESS Ask.com and other Web sites, said Tuesday that asset sales helped it profit in the third quarter while advertising revenue continued to slump. All Rights Reserved.The IAC building is shown, Oct.
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