Altaba Completes Name Change; Registers as Investment Company; Commences Trading Under New Ticker Symbol ‘AABA’
19 Juin 2017 - 2:00PM
Business Wire
On June 13, 2017, Yahoo! Inc. (“Yahoo”) completed the sale of
its operating business to Verizon Communications Inc. On June 16,
2017, Yahoo changed its name to “Altaba Inc.” (“Altaba” or the
“Fund”) and filed a Notification of Registration on Form N-8A and a
Registration Statement on Form N-2 with the Securities and Exchange
Commission (the “SEC”) in order to register as a publicly traded,
non-diversified, closed-end management investment company under the
Investment Company Act of 1940 (“1940 Act”).
In conjunction with the name change, Altaba shares will trade on
the NASDAQ Global Select Market under the new ticker symbol ‘AABA’
and the CUSIP number 021346 101 as of the open of trading on June
19, 2017. Previously, through June 16, 2017, Yahoo’s common stock
traded on the NASDAQ Global Select Market under the ticker symbol
‘YHOO’ and the CUSIP number 984332 106. No action is required to be
taken by stockholders with respect to their shares.
For more information about Altaba and its strategy for
delivering value to its stockholders, please refer to the Letter to
Stockholders sent by Thomas J. McInerney, Chief Executive Officer
of Altaba on June 19, 2017, available on the Fund’s website at
www.altaba.com.
About the Fund
Altaba is a publicly traded, non-diversified, closed-end
management investment company registered under the Investment
Company Act of 1940. The Fund’s investment objective is to seek to
track the combined investment return of the shares of Alibaba Group
Holding Limited and the shares of Yahoo Japan Corporation that the
Fund owns.
Altaba’s assets consist of an approximately 15% equity stake in
Alibaba Group Holding Limited, one of the world’s largest online
retailers; an approximately 36% equity stake in Yahoo Japan
Corporation, a leading Japanese internet company; cash, cash
equivalents and marketable debt securities; certain minority
investments; and Excalibur IP, LLC, which owns certain patent
assets that were not core to Yahoo’s operating business. The Fund’s
retained liabilities include the Fund’s 0.00% convertible senior
notes due 2018; shareholder litigation; and certain liabilities
relating to data breaches incurred by Yahoo.
Additional information about the Fund is available in the Fund’s
Registration Statement on Form N-2, available on the SEC’s website
at www.sec.gov and on the Fund’s website at www.altaba.com.
Forward-Looking Statements
This press release contains forward-looking statements
concerning the Fund. Risks and uncertainties may cause actual
results to differ materially from the results predicted.
Information about potential factors that could affect the Fund’s
business and financial results will be included under the caption
“Risk Factors” in the Fund’s Registration Statement on Form N-2,
available on the SEC’s website at www.sec.gov and on the Fund’s
website at www.altaba.com. All information set forth in this
communication is as of June 19, 2017. The Fund does not
intend, and undertakes no duty, to update this information to
reflect subsequent events or circumstances.
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Abernathy MacGregorAlan Oshiki, 212-371-5999altaba@abmac.com