Verus International Inc (VRUS)

[Renegades17]

All of that information is outdated

Based on share count as of May 3, 2018, there's going to be roughly 1.2mm Nestbuilder shares outstanding. You'll own 1 share of Nestbuilder for every 300 shares of RBIZ. The record date, which is what matters from an ownership perspective, was in late April. They effectively skipped a step and are doing a reverse split as part of the spin. Had to happen at some point anyways, so might as well launch with a low float.

The price of the shares will be determined by the markets- there will be no price setter like an underwriter for an IPO. Valuing Nestbuilder is tough because they haven't been actively marketing it for some time (to the best of my knowledge). Sounds like they will launch a new product shortly after the spin occurs. I imagine Alex will try to pump the stock up with some PRs and then raise some equity to fund the company. The low float will help in that regard.