Rights to Buy Sears Hometown (SHOSR) Spin-Off Are Ripping Higher
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The rights to purchase upcoming spin-off Sears Hometown and Outlet Store (NASDAQ: SHOSR) have been flying higher since they started trading on Wednesday. Yesterday they rose 25 percent to $2.12 and today they are up another 15 percent to $2.47.
Each subscription right will entitle its holder to purchase 0.218091 of a share of Sears Hometown common stock. Sears Holdings (NASDAQ: SHLD) distributed the rights recently to holders. The exercise price will be $15 per share.
Following the separation, Sears Holdings will continue to be listed on the NASDAQ Global Select Market under the symbol "SHLD," while Sears Hometown expects to list its common stock on the NASDAQ Capital Market under the symbol "SHOS."
Sears Hometown has 940 Sears Hometown stores, 88 Sears Hardware stores and 77 Sears Home Appliance stores.
Each subscription right will entitle its holder to purchase 0.218091 of a share of Sears Hometown common stock. Sears Holdings (NASDAQ: SHLD) distributed the rights recently to holders. The exercise price will be $15 per share.
Following the separation, Sears Holdings will continue to be listed on the NASDAQ Global Select Market under the symbol "SHLD," while Sears Hometown expects to list its common stock on the NASDAQ Capital Market under the symbol "SHOS."
Sears Hometown has 940 Sears Hometown stores, 88 Sears Hardware stores and 77 Sears Home Appliance stores.
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