However, under the Nasdaq rules, Nasdaq has discretionary authority to suspend or terminate the listing of a company that has announced that liquidation has been authorized by its board of directors and that it is committed to proceed, even if the Shares otherwise meet all enumerated criteria for continued listing on Nasdaq. Transfer Agent. Altaba Rewarded Shareholders. Here's What's Next. | Nasdaq STOCKHOLDERS OF THE FUND ARE URGED TO On June 29, 2021, pursuant to the terms of the Order, the Fund sent a Reduction Notice (as defined in the Order) to the IRS notifying the IRS that the Fund plans to make a reduction in the Agreed Security Amount by $282,967,328 (the June Reduction Notice). Prior to June 16, 2017, Altaba was known as Yahoo! Inc. Altaba was user account information and forged cookies (the Larocque Action), and authorizing the Fund to make one or more distributions totaling in the aggregate amount of $492,500,000, reflecting the difference between the Funds current holdback for the Larocque Action and the stipulated holdback. Last update was 1727 days ago UPDATE NOW. Altaba Inc. (Altaba or the Fund) (NASDAQ:AABA) today announced that The Motley Fool recommends Yahoo. In the early 1990s, Ma realized Chinalacked technology in the business world. Money management is the process of budgeting, saving, investing, spending, or otherwise overseeing the capital usage of an individual or group. Altaba P.O. Investors will get $7.48 a share in cash next month as the liquidation continues. (VZ) in June 2017, after which it changed its name to Altaba. Additional information regarding the Plan and the dissolution process can be found in the Funds Definitive Proxy Statement on Schedule 14A, filed with the SEC on May 17, 2019 (the Proxy Statement). Information about the persons who may, Inc. after the sale of its operating businesses, at which time Yahoo! The company (formerly Yahoo Inc.) is a publicly traded, closed-end management investment which tracks the shares of Alibaba Group Holding Co., an online retailer based in China, and Yahoo Japan Corp., an internet company based in Japan. The Fund's assets primarily consist of a mix of cash and cash equivalents.. stockholders, which was filed with the SEC on August 31, 2018, and its have in the proposed liquidation and dissolution pursuant to the Plan, The Funds stockholders of record at the close of business on May 16, About Altaba Altabais an independent, publicly traded, non-diversified, closed-end management investment company registered under the Investment Company Act of 1940. Inc. reorganized as an investment company, was renamed Altaba Inc., and began trading under the Nasdaq ticker symbol AABA. Inc. Altaba was created from Yahoo! The Funds assets primarily consist of a mix of cash and marketable securities. Altaba Announces Pre-Dissolution Liquidating Distribution of $51.50 Per Nonetheless, Snap is one of its more noteworthy investments, which really helps exemplify how "undiversified" Altaba is as a holding company. While Yahoo!s internet business withered, the company made a shrewd early investment in Alibaba that turned into a hugely valuable stake in the Chinese e-commerce company. Is Alibaba Losing Its Dominance in China? Alibaba Investor Relations - Alibaba Group On May 28, 2020, as part of the Funds court-supervised wind-up proceedings pursuant to Sections 280 and 281(a) of the General Corporation Law of the State of Delaware (the DGCL) pending before the Court of Chancery of the State of Delaware (the Chancery Court), the Fund filed a verified petition for determinations pursuant to Section 280 of the DGCL (the Chancery Action). (NASDAQ: YHOO) assets, the remaining entity has changed its name to Altaba,effective June 16. This Notice relates to a proposed settlement (the "Settlement") of the following shareholder and derivative actions: (i) In re Yahoo! Richard Kauffman is Chair of Generate Capital, a leading financier of clean energy projects. The Motley Fool owns shares of and recommends Verizon Communications. Upon the filing of the certificate of dissolution, the Fund will close its stock transfer books, after which record holders of the Funds common stock, par value $0.001 per share (the Shares), will be prohibited from transferring record ownership of their Shares, except by will, intestate succession or operation of law. Calculated by Time-Weighted Return since 2002. At the special meeting, the Funds stockholders Inc. after the sale of its operating businesses, at which time Yahoo! Nasdaq has advised the Fund that trading in the Shares will be indefinitely suspended prior to the opening of trading on the NASDAQ Global Select Market on October 7, 2019, and that Nasdaq will thereafter file with the Securities and Exchange Commission (the SEC) a Notice of Removal from Listing and/or Registration on Form 25 to cause the Shares to be delisted. management, and in consultation with the Funds advisors, the Board The Fund expects that any purchases or sales of the Funds Shares that are not settled prior to the filing of the certificate of dissolution and the closing of the Funds stock transfer books will not be settled. Altaba stock was delisted from the Nasdaq in early October, when it filed a plan of liquidation in Delaware and the last sale was at $19.63. Altaba has said it plans to make a second distribution in the fourth quarter of 2020. Stock Advisor list price is $199 per year. Sounds risky as all get out. What Investors Need to Know About Altaba, a.k.a. What's Left of Yahoo ", Yahoo Finance. On May 28, 2020, as part of the Funds court-supervised wind-up proceedings pursuant to Sections 280 and 281(a) of the General Corporation Law of the State of Delaware (the DGCL) pending before the Court of Chancery of the State of Delaware (the Chancery Court), the Fund filed a verified petition for determinations pursuant to Section 280 of the DGCL. I have invested in liquidations for well over 35 years. Altaba is taking advantage of gains in Alibaba stock, which has risen 35% since the end of September. On June 23, 2022, the Company filed with the Chancery Court a Stipulation and Proposed Order Regarding Final Monetary Holdback and Security for Claim of Droplets, Inc. (the Requested Droplets Holdback Order) that requested entry of an order authorizing the Company to make a cash distribution to stockholders in the amount of $360,391,527, which is the amount by which the revised monetary holdback amounts for the claims asserted by Droplets, Inc. (Droplets), as agreed by Droplets, exceeds the total required to be reserved for such claims in the Chancery Courts May 17, 2022 grant of Altabas Unopposed Motion for Certain Distributions to Stockholders. Cost basis and return based on previous market day close. U.S. Securities and Exchange Commission. The Motley Fool has a disclosure policy. Altaba (NASDAQ: AABA) just published an update on the focused investing company's financial health. Section21E of the Securities and Exchange Act of 1934, as amended. Netflix's Big Change Was a Swing and Miss. On June 18, 2020, the United States Department of Justice (the "DOJ"), on behalf of the United States Internal Revenue Service (the "IRS"), filed a Notice of Removal in the Chancery Court removing claims of the IRS in the Chancery Action to the United States District Court for the District of Delaware (the "District of Delaware"). created from Yahoo! As previously announced, at a special meeting of stockholders held on June 27, 2019, stockholders of the Fund approved a Plan of Complete Liquidation and Dissolution (the Plan), pursuant to which, the Fund filed a certificate of dissolution with the Secretary of State of the State of Delaware to dissolve the Fund on October 4, 2019. A few others have proposed that Altaba establish large reserves against disputed claims. The 2020 annual report contains no comments from CEO Tom McInerney. These documents may Wall Street arbitragers are believed to be sizable holders of the stock. Regardless, Altaba is still worth less than the sum of its parts. The Liquidating Distribution represents a partial distribution of the remaining assets of the Fund. 45th Street, 15th Floor, New York, New York 10017 or to Georgeson LLC Be the change you want to see in the world! Such risks and uncertainties relate to, among other things: the availability, timing and amount of post-dissolution liquidating distributions; the amounts that will need to be set aside by the Fund; the adequacy of such reserves to satisfy the Funds obligations; the ability of the Fund to favorably resolve certain potential tax claims, litigation matters and other unresolved contingent liabilities of the Fund; the application of, and any changes in, applicable tax laws, regulations, administrative practices, principles and interpretations; and the incurrence by the Fund of expenses relating to the liquidation and dissolution. Investors stand to make an estimated $3, or 15%, as the liquidation process plays out over the coming years. Such risks and uncertainties relate to, among other things: Copies may also be requested by writing to Thomson Reuters Investor Relations, 3 Times Square, New York, NY 10036, United States. By comparison, the 4.6 million shares of Snap, worth another $80 million or so, are just a blip in the portfolio. While these payments were made in April 2021, the NAV per share reported at March 31, 2021 reflects the impact of the CA Agreements. July 21, 2023. Further information regarding the amount and timing of any subsequent liquidating distributions to stockholders will be provided in subsequent press releases or filings with the SEC as such information becomes available. Invest better with The Motley Fool. definitive proxy statement, when it becomes available, and in the Funds The liquidation plan, announced by Altaba in April, caps a long history for Yahoo!, one of the leading internet companies during the dot-com boom of the late 1990s. cited in its regulatory filings. Altaba owns a 15% stake in Alibaba, which is valued at $341 billion as of this writing, making the investment worth over $51 billion. Two choices: sell before 10/04/19 or hold until all of the distributions have been made. An institutional investor that trusts the story would reinvest proceeds once paid. Visit www.altaba.com for more information. Prior to June 16, 2017, Altaba was known as Yahoo! statements. As previously announced, at a special meeting of stockholders held on June 27, 2019, stockholders of the Fund approved a Plan of Complete Liquidation and Dissolution (the Plan), pursuant to which, the Fund filed a certificate of dissolution with the Secretary of State of the State of Delaware to dissolve the Fund on October 4, 2019. Company Profile and Recent Developments Altaba Inc. (formerly known as Yahoo! proposal to approve the voluntary liquidation and dissolution of the Because the Fund is an investment company, the forward-looking statements and projections in this press release are excluded from the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Japan, and the rest of Altaba's portfolio. You can learn more about the standards we follow in producing accurate, unbiased content in our. other relevant materials (when they become available), and any other The Funds assets primarily consist of a mix of cash and cash equivalents. Prior to June 16, 2017, Altaba was known as Yahoo! TO: ALL PERSONS AND ENTITIES WHO HELD ALTABA INC. COMMON STOCK AS OF THE CLOSE OF TRADING ON SEPTEMBER 14, 2018 ("CURRENT ALTABA SHAREHOLDERS"). The intention at the time was to maximize the value of the companys remaining assets, mainly the 15% stake in Alibaba, as well as a much smaller stake in Yahoo Japan ? Additional information regarding the Plan and the liquidation and dissolution process can be found in the proxy statement filed with the U.S. Securities and Exchange Commission (the SEC) on May 17, 2019 (as supplemented, the Proxy Statement). In addition, there were certain other refunds received that are available for distribution. SoftBank sold part of its stake in 2019, booking over $11 billion in pre-tax profits. The Fund will mail the definitive proxy Japan, and a small position in Snap, among others. Consequently, the Fund expects that any transfers of such rights will be tracked by DTC. On June 23, 2022, the Chancery Court entered the Requested Droplets Holdback Order. Altaba Stock Forecast, Price & News (NASDAQ:AABA) - MarketBeat the risks, timing, viability and potential impact on the Funds Altaba is an independent, closed-end management investment company registered under the Investment Company Act of 1940. Overview Doing Business As: Altaba Company Description: Altaba Inc. is stocked with stock and that's about all. Japan's SoftBank is believed to be BABA's largest shareholder, owning around 24% of the company. On May 28, 2020, as part of the Funds court-supervised wind-up proceedings pursuant to Sections 280 and 281(a) of the General Corporation Law of the State of Delaware (the DGCL) pending before the Court of Chancery of the State of Delaware (the Chancery Court), the Fund filed a verified petition for determinations pursuant to Section 280 of the DGCL (the Chancery Action). We believe that any further distribution (s) may take a number of years to be paid, he wrote. altaba.com receives about 2,071 unique visitors per day, and it is ranked 962,051 in the world. retailers. In determining the aggregate amount to be distributed in the Liquidating Distribution, the Board also took into consideration other contingencies affecting the Fund to determine the amount of funds to authorize for distribution, including, among other things, the receipt of state income tax refunds received of approximately $82 million and release of certain supplemental reserves totaling $238 million that the Fund determined were not needed. To read more about any of the committees, click on the committee names in the chart below. On May 28, 2020, as part of the Funds court-supervised wind-up proceedings pursuant to Sections 280 and 281(a) of the General Corporation Law of the State of Delaware (the DGCL) pending before the Court of Chancery of the State of Delaware (the Chancery Court), the Fund filed a verified petition for determinations pursuant to Section 280 of the DGCL. forward-looking statements. Another distribution of $8.33 a share was made in November 2020. Prior to June 16, 2017, Altaba was known as Yahoo! As previously announced, at a special meeting of stockholders held on June 27, 2019, stockholders of the Fund approved a Plan of Complete Liquidation and Dissolution (the Plan), pursuant to which the Fund filed a certificate of dissolution with the Secretary of State of the State of Delaware and dissolved on October 4, 2019. Risk Factors in the definitive proxy statement that will be filed with documents filed by the Fund with the SEC, may be obtained free of charge Japan and the patent portfolio. In connection with the proposed limiting the foregoing, words or phrases such as will likely result, Reports available in electronic or paper copy only upon request: Joseph Tsai . ", NBA. liquidation and dissolution pursuant to the Plan, and any interest they The company's key business segments include mobile media and entertainment, cloud computing, and core commerce, along with other developing initiatives. On October 23, 2020, the Board declared the Liquidating Distribution, which represents a distribution of substantially all of the Funds assets in excess of the aggregate security amount required to be retained by the Fund pending adjudication of any remaining disputed claims. However, the deal is not expected to be settled until June 2024. About Altaba Altaba is an independent, closed-end management investment company registered under the Investment Company Act of 1940. "Alibaba Group Holding Limited (BABA): Summary. Japan is worth about $8.5 billion . Altaba Inc. (AABA) Message Board - Company Name: Altaba Inc., Stock Symbol: AABA, Industry: Internet - Information/Portals - Total Posts: 3326 - Last Post: 02/27/2023 11:20:46 AM - company/specific stock board . After publishing our first ESG Report in 2020, we took the additional step of consolidating our Year in Review, Corporate Social Responsibility Report and the ESG Report to produce one consolidated report. SoftBank invested $20 million in Alibaba back in 2000 when it was a young startup. There are two types of investors: those who sit pat and those who reinvest proceeds. View source version on businesswire.com: https://www.businesswire.com/news/home/20190923005802/en/, Investor Relations and Media: