06.11.15
The board of Plainsboro, N.J.-based Integra LifeSciences Holdings Corporation has approved the separation of SeaSpine Holdings Corporation from Integra in the form of a tax-free dividend involving the distribution of all outstanding shares of SeaSpine common stock to holders of Integra common stock.
SeaSpine common stock will be distributed on July 1 to Integra stockholders of record as of 5:00 p.m., Eastern Time, on June 19, 2015, the record date for the distribution. Integra stockholders will receive one share of SeaSpine common stock for every three shares of Integra common stock held by such holders.
Immediately after the distribution is completed, SeaSpine will be an independent, publicly traded company, and “regular-way” trading of SeaSpine’s common stock will begin the first trading day after the completion of the distribution. SeaSpine will own and operate Integra’s orthobiologics and spinal fusion hardware business. Neither company will have any ownership interest in the other.
SeaSpine common stock will be distributed on July 1 to Integra stockholders of record as of 5:00 p.m., Eastern Time, on June 19, 2015, the record date for the distribution. Integra stockholders will receive one share of SeaSpine common stock for every three shares of Integra common stock held by such holders.
Immediately after the distribution is completed, SeaSpine will be an independent, publicly traded company, and “regular-way” trading of SeaSpine’s common stock will begin the first trading day after the completion of the distribution. SeaSpine will own and operate Integra’s orthobiologics and spinal fusion hardware business. Neither company will have any ownership interest in the other.