BLAQclouds announces spinout of property subsidiary

BLAQclouds, Inc. (OTC: BCDS) announced plans to spin out BLAQclouds Property Group, a wholly owned subsidiary focused on commercial real estate acquisition and management. The company set an ex-dividend date of January 5, 2026, at 4:00 PM Eastern Time for the distribution of shares to eligible shareholders.

Shareholders will receive one share of BLAQclouds Property Group for every 100 shares of BLAQclouds stock owned as of the ex-dividend date. The property group, incorporated in Wyoming on December 11, 2024, has authorized 100 million common shares with no par value or preferred stock.

BLAQclouds Property Group will focus on acquiring and managing commercial real estate in Pennsylvania, Colorado, California, Texas, and Florida. Following the spinout, BLAQclouds will retain a 60% ownership stake in the property group and serve as its chief technical and blockchain architect.

The parent company will integrate blockchain-based property management systems, secure identity and access control, and payment infrastructure into properties owned by the property group. Dominion Stock Transfer will act as the transfer agent for the distribution.

"This spinout represents a meaningful step in our long-term strategy to unlock value for shareholders while expanding BLAQclouds' real-world footprint," said Shannon Hill, CEO of BLAQclouds.

BLAQclouds operates Web3 infrastructure and fintech platforms, including crypto-to-gift card commerce and blockchain payment systems. Only shareholders of record holding BCDS shares as of the ex-dividend date will be eligible to receive the spinout shares, according to the company's announcement.

You May Also Be Interested In

• Ethan Allen declares $3-per-share special cash dividend
• Constellation Brands pledges $100M to U.S. farmers over five years
• Volta Metals closes acquisition of claims adjoining Springer REE project