Corteva Approves Spinoff of Seed Business as Vylor Inc.
Corteva (NYSE: CTVA) has approved the spinoff of its seed business into a new publicly traded company named Vylor Inc. The separation is expected to be completed by October 1, 2026, with shares listed on the NYSE under the ticker symbol VYLR. Shareholders will receive one share of Vylor for each Corteva common share they hold as of September 24. Vylor's 'when-issued' trading is set to begin on September 25 and continue until October 1, during which time Corteva shares are expected to trade in two markets. The spinoff aims to be tax-free for U.S. federal income purposes, except for cash received from fractional share adjustments. Corteva will host an Investor Day webcast on September 15 to outline the future of both companies post-separation.
Tickers: $CTVA
Topics: Corteva public listing stock distribution Vylor Inc.