Interesting that FINRA has indicated that there is no ex-dividend date due to the KUSH shares not being freely traded. My broker, however, has indicated that there still is a settlement period of three days... So, now I have no clue what to expect. Now, we wait.
Also, since the stock fell about 40% on that date, the implied valuation of the dividend is equal to $22m, or 40% of the value of CBDS at $3.45/sh. Since the dividend only equates to 40% of the KUSH shares, this implies a market-tested equity valuation of ~$55m for 100% of KUSH shares.
$55m / 160m shares = $0.34 PPS
We can expect KUSH to IPO somewhere in this range, or higher if they're smart. Otherwise (i.e. if it IPOs for anything less) they'll be leaving money on the table.
My guess is that KUSH will IPO at $0.30 to end the day with anticipated gains. If KUSH wants to draw a bold line in the sand, they'll IPO at $0.50 or even higher (but no more than $0.75-1.00).