Fairport, New YorkAnd May 5 2022 /PRNewswire/ — Vinco Ventures, Inc. (NASDAQ: BBIG) (“Vinco”), the holding company for digital content and media technologies, today announced that May 18 2022 Set as the standard dividend date for Cryptyde, Inc. (“Cryptyde”) requires the shareholders of Vinco to effect the separation of Vinco and Cryptyde into two independent, publicly traded companies.
Register each shareholder of FINCO as of the end of business in May 18 2022 On the date of distribution, one share of Cryptyde common stock for every 10 shares of Vinco common stock. Dividends are expected to be distributed to shareholders in or around Vinco May 27 2022. After the separation, the shareholders of Vinco will also receive cash in lieu of any portion of shares of the common Cryptyde Shares that such owners would have received after applying the 10:1 distribution ratio. No action is required by Vinco shareholders in order to acquire the Cryptyde Shares in Profit distribution.
In connection with this separation, Cryptyde has submitted a registration statement on Form 10 (“Form 10”). This Form 10 contains more information regarding Vinco’s plans to obtain a tax exemption for Cryptyde as a public corporation, including terms for completing the chapter. Form 10 has not yet been declared effective by the Securities and Exchange Commission.
After the split, Cryptyde common stock is expected to trade on the Nasdaq Stock Exchange under the ticker symbol “TYDE” and Vinco will continue to trade on the Nasdaq Capital Market under the stock ticker symbol “BBIG”.
Vinco Ventures, Inc. is focused. (BBIG) on [the development of digital media and content technologies]. ZVV Media Partners, LLC, the consolidated subsidiary of Vinco Ventures, a joint venture of Vinco Ventures and ZASH Global Media and Entertainment Corporation, holds an 80% ownership interest in Lomotif Private Limited. For more information visit Investors.vincoventures.com.
Lomotif is a video sharing social networking platform that democratizes the video industry. Home to creators since 2014, Lomotif hosts a grassroots social community with dedicated users in it. AsiaAnd Latin america And United State. Lomotif is 80% owned by ZVV Media Partners, LLC, a joint venture between ZASH Global Media and Entertainment Corporation and Vinco Ventures, Inc. (Nasdaq: BBIG). Download the Lomotif app from the Apple and Google Stores or visit www.lomotif.com for more information.
Cryptyde, Inc. (Expected: TYDE), focused on leveraging blockchain technologies to disrupt consumer-facing industries.
This press release contains “forward-looking statements” as defined in the safe harbor provisions of the US Securities Litigation Reform Act of 1995, which are based on the beliefs and information currently available to the management of Vinco Ventures as well as estimates and assumptions made by the management of Vinco Ventures. These statements can be identified by the fact that they are not strictly related to historical or current facts. When used in this presentation, the words “estimate,” “expect,” “intend,” “believe,” “plan,” “expect,” “expect,” and other words or negative of these terms and expressions are similar as they relate to the company in question or Managed identification of forward-looking statements. These statements reflect Vinco Ventures’ current view of future events and are subject to risks, uncertainties, assumptions, and other factors relating to Vinco Ventures, its subsidiaries and entities with consolidated variable interests including Lomotif, its industry, financial condition, operations and results of operations. These factors include, but are not limited to, the expected benefits from Vinco Ventures’ investment in Lomotif and related growth initiatives and strategies such as a mixed media and cross-platform distribution strategy, expected benefits from Lomotif’s participation in live entertainment and sponsorship events, expected benefits from the AdRizer acquisition and planned integration For AdRizer technology with Lomotif and Honey badger And the synergy between AdRizer, Lomotif and Honey badgerUncertainty regarding the completion and timing of the individual offering of Cryptyde, the failure of Form 10 to be declared effective by the Securities and Exchange Commission, the failure to meet any conditions for the completion of the single offering as defined in Form 10, the expected tax treatment of the offering and its impact on the business of Vinco Ventures and Cryptyde, The expected benefits to Vinco Ventures, its shareholders, and Cryptyde from the recent injection of companies and assets into Cryptyde The spin-offs, regulatory risks with NFT and blockchain business lines, and such other risks and uncertainties are fully described in documents filed by Vinco Ventures and Cryptyde or filed with the Securities and Exchange Commission and stock exchanges, including the risk factors discussed in Vinco Ventures’ Annual Report on Form 10-K for the period ended December 31, 2021 foot in April 15, 2022 And Cryptyde Amendment No. 2 to Form 10 presented in March 18, 2022, which is available at www.sec.gov. If one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ materially from those projected, expected, estimated, anticipated, intended or planned. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance or achievements. Except as required by applicable law, including the securities laws of United StateWe do not intend to update any of the forward-looking statements to conform to actual results.
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Source: Vinco Ventures, Inc.