Corteva clears SEC registration milestone for Vylor separation

Corteva ($CTVA) said the SEC declared Vylor’s Form 10 registration statement effective, advancing the planned separation of its seed and genetics business. Eligible Corteva shareholders are scheduled to receive one Vylor share for each Corteva share through the distribution planned for October 1. Vylor has been authorized for a New York Stock Exchange listing under the symbol VYLR.

The registration milestone is a new step in a previously announced separation, rather than a newly negotiated sale of the business. The companies said there would be no when-issued or ex-distribution trading before completion. The distribution and market debut remain ahead of the disclosure, so the announcement should not be presented as confirmation that shareholders already hold independently traded Vylor shares.

Sources:

• Corteva — effectiveness of Vylor registration, PR Newswire release