CompoSecure (CMPO) said Friday it completed the spin-off of its subsidiary, Resolute Holdings Management (RHLD), into an independent public company.
As part of the separation, the company said its shareholders received one share of Resolute Holdings for every 12 shares of CompoSecure common stock held as of February 20. Cash will be issued for fractional shares, it added.
CompoSecure said the distribution will result in a taxable gain for CompoSecure and be treated as a taxable dividend for shareholders.
Resolute Holdings will begin trading on the Nasdaq under the 'RHLD' ticker, while CompoSecure will continue trading as 'CMPO,' the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.