Seeking Alpha

New Media flies in when-issued trading

  • In addition to a bit of excitement around New Residential this afternoon, another Newcastle Investment (NCT +1.2%) spinoff, New Media (NEWM) began when-issued trading last week at $11 per share and is up to $14.05. The actual spinoff date is February 13.
  • To review: Newcastle owners get 0.07219 shares of New Media for each share of Newcastle they own.
  • New Media S-1
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Comments (2)
  • Michael Bryant
    , contributor
    Comments (5746) | Send Message
     
    Finally!!!!!!! I am looking forward to holding New Media. Plan to buy more of (NCT) and (NRZ).
    10 Feb 2014, 03:57 PM Reply Like
  • Steven Reiman
    , contributor
    Comments (348) | Send Message
     
    I was hoping for a sell off after the distribution
    10 Feb 2014, 04:00 PM Reply Like
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