The relationship between risk, growth expectations and P/E ratios helps to explain why the
common stock of otherwise similar companies trades at different multiples.
According to the company, the split-adjusted
common stock will trade under the ticker symbol WIZPD for 20 days, after which time the D will be removed and the stock will resume trading under the ticker symbol WIZP.
FNF Group shareholders who hold their shares through brokers or other nominees will have their shares of New Black Knight
common stock credited to their accounts by their nominees or brokers.
Cash elections were oversubscribed, so FNB stockholders who made a valid cash election with respect to their shares of FNB
common stock will receive USD 630.00 per share in cash for approximately 53.4% of their shares and 12.6000 shares of Citizens
common stock for each of their remaining shares, plus cash in lieu of any fractional share of Citizens
common stock.
FNF stockholder approval is required to amend the FNF Restated Certificate of Incorporation to increase the authorized shares of
common stock from 150 to 250 million to allow for the issuance of new shares of FNF
common stock to holders of FNIS
common stock in the merger.
Each bond is convertible into 40 shares of
common stock. The tax rate is 40%.
An issuer of nonconvertible bonds with an investment grade credit rating may seem to incur the same effective interest rate as a lower-rated issuer of convertible bonds if the accounting does not recognize that purchasers of the convertible bonds receive both interest payments and a chance to obtain
common stock at a favorable price as a return on their funds.
Also, the total amount paid in the special dividend is USD67.1m in cash and 4.5 million shares of
common stock. The company used a price of USD49.93 per share, the volume-weighted average price of its
common stock on the New York Stock Exchange on 11 and 12 March 2019, to decide the value of the shares issued in the special dividend.
The closing sale price of the
Common Stock was $17.50, which marked the 20th trading day in the previous 30 consecutive trading days that the
Common Stock closed above $15.04 (which is equal to 130% of the applicable conversion price for the Series C Preferred Stock), triggering the right of OFG Bancorp to elect to mandatorily convert all shares of Series C Preferred Stock into shares of
Common Stock in accordance with the terms of the Series C Preferred Stock.
For each share of AC Class A
common stock that is validly tendered and not validly withdrawn, an AC stockholder will receive 1.35 shares of GBL Class A
common stock (the "exchange ratio"), together with cash in lieu of any fractional share of GBL Class A
common stock, without interest and less any applicable withholding taxes.
Based on the shares of Ashland
common stock outstanding as of May 5, 2017, the record date for the distribution, each share of Ashland
common stock will receive 2.745338 shares of Valvoline
common stock in the distribution.
Also, the board approved a corresponding, proportional reduction in the number of the company's authorised shares of
common stock, each to become effective pursuant to the filing of articles of amendment to AmpliPhi's articles of incorporation.
