Finance History|Nasdaq MarketSite — One LITE Share for Every Five JDSU Shares
· 2015-8
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Finance History|Nasdaq MarketSite — One LITE Share for Every Five JDSU Shares
kevin
People treat Lumentum as a San Jose photonics house that always printed LITE after a finished Nasdaq book.
The 2015 issuer was Lumentum Holdings Inc., the former Communications and Commercial Optical Products segment of JDS Uniphase.
JDSU's 15 July 2015 notice set the record date at 27 July 2015 and said holders would receive one Lumentum share for every five JDSU shares, with cash in lieu of fractions.
About 80.1 percent of Lumentum was to be distributed; JDSU, soon renamed Viavi Solutions, would keep about 19.9 percent.
A period account based on 235.3 million JDSU shares outstanding put the distributed block near 47.1 million Lumentum shares and the retained block near 11.7 million.
The special dividend took effect at 12:01 a.m. on 1 August 2015 and was paid on 3 August 2015.
Lumentum's own 3 August 2015 release said regular-way trading would open on Nasdaq under LITE on 4 August 2015.
The company's investor FAQ still dates the first Nasdaq session to that Tuesday.
A first-session tape compiled later put the 4 August 2015 open at 24.25 U.S. dollars in 2015 dollars and the close at 21.15 U.S. dollars.
The letters LITE still open on the Nasdaq Global Select Market.
The mechanism is a 2015 Form 10 spin that opened an optical-components book by ratio, not by a cash primary offering.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that prints LITE.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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