Friday, January 15, 2021

Equity Corporate Actions Alert #2021 - 5
(UPDATED - Registration effective) Spin-Off/Distribution Information for Verint Systems Inc. (VRNT)

Category:

  • Industry Announcement

Markets Impacted:

Contact Information:

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On December 4, 2019, Verint Systems Inc. (VRNT) announced a spin-off of its subsidiary Cognyte Software Ltd. The EX distribution when-issued market of Verint Systems Inc. Common Stock (VRNTV) and the when-issued market for Cognyte Software Ltd. Ordinary Shares (CGNTV) will begin trading on Nasdaq on January 26, 2021. The details for the spin-off and when-issued markets are as follows:

Parent Company/Issue: Verint Systems Inc. Common Stock
CUSIP: 92343X100
Symbol: VRNT
Record Date: January 25, 2021
Payment Date: February 1, 2021
EX Date: February 2, 2021
Due Bill Redemption Date: February 3, 2021
Ratio of Spin-Off/ Distribution:
One (1) of a share of Cognyte Software Ltd. Ordinary Shares (CGNT) for each share held.

An EX distribution when issued market will be established for Verint Systems Inc. Trades in the EX distribution when issued market will not carry due-bills for the spin off/distribution. The details for the EX distribution when-issued market are as follows:

Symbol: VRNTV
CUSIP: 92343X118
First Trade Date: January 26, 2021
Suspension Date: February 2, 2021
Settlement Date: February 4, 2021

A when-issued market will be established for the shares of Cognyte Software Ltd. (CGNTV). The symbol will change to CGNT on February 2, 2021. The details for the when issued market are as follows:

Symbol: CGNTV
CUSIP: M25133105
First Trade Date: January 26, 2021
Regular Way Trading Begins: February 2, 2021
Settlement Date: February 4, 2021

For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523.

If you would like to register as a market maker in VRNTV or CGNTV contact Nasdaq Trading Services at +1 212 231 5100.


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