Post by
TeamEddie on Sep 15, 2022 6:48pm
understand the amount of time it takes a share to settle
IF YOU BUY ON SEPT 21ST YOU WILL NOT GET SPINOUT SHARES
IF YOU BUY THE 20TH YOU WILL NOT GET SPIN OUT SHARES
DEPENDING ON WHO YOU TRADE THROUGH IF YOU BUY ON THE 19TH YOU MAY
If I sell on the 21st and you buy I get the spin off shares
check with your brokerage if you want to be sure
Comment by
Donwaan on Sep 15, 2022 10:24pm
The company has set 12:01 a.m. (a minute after midnight)on Sept. 22, 2022, as the effective time and date for the closing of the arrangement. And states: Ex distribution date: Sept. 21, 2022 I could be wrong but wouldn't this make Sept. 20th the last day to purchase SALT shares and qualify for TPL? As you say Eddie, best to check with your brokerage to be sure though.
Comment by
Crunchy2chew on Sep 16, 2022 4:14am
Donnwann. When you buy a share it is not put right into your name. It takes acouple of days to settle and be "in your name". While it mat show the share in your account it is not legally transfered yet. They say it could take up to three days to be in your name. During this time you would not get spinco shares.
Comment by
Donwaan on Sep 16, 2022 10:18am
Thanks Crunchy! I do understand the settlement rules. For my dividend paying stocks ex-div date means the first purchase date before the record date to not qualify for that months dividend. Maybe with this arrangement it is different though.