J2 Global Announces “When-Issued” Trading of Consensus and Ziff Davis Common Stock Will Begin September 30, 2021

Rhea-AI Summary

J2 Global, Inc. (NASDAQ: JCOM) announced the upcoming “when-issued” trading of its spinoffs, Consensus Cloud Solutions, Inc. and Ziff Davis, Inc., starting September 30, 2021. Regular trading for both companies will begin on October 8, 2021. The Board of Directors approved a special dividend distribution, with shareholders receiving one share of Consensus for every three shares of JCOM held as of October 1, 2021. The separation is slated for completion by October 7, 2021. Post-separation, J2 Global will be renamed Ziff Davis and trade under the symbol “ZD.”

Positive

• Spinoff of Consensus Cloud Solutions and Ziff Davis expected to enhance shareholder value.
• 25 consecutive fiscal years of revenue growth reported as of December 31, 2020.

Negative

• Uncertainties surrounding the expected benefits and performance of the companies post-separation.
• Potential risks related to market conditions affecting the separation and trading processes.

LOS ANGELES--(BUSINESS WIRE)-- J2 Global, Inc. (Nasdaq: JCOM) (“J2 Global”) today announced that “when-issued” trading of Consensus Cloud Solutions, Inc. (“Consensus”) common stock and Ziff Davis, Inc. (“Ziff Davis”) common stock will begin on September 30, 2021, on the Nasdaq Global Select Market (“Nasdaq”), under the symbols “CCSIV” and “ZDVSV” (previously announced as “JCOMV”) respectively.

“Regular-way” trading of Consensus common stock and Ziff Davis common stock is expected to begin on Nasdaq on October 8, 2021, under the symbols “CCSI” and “ZD” respectively. The “when-issued” trading market is a market for Consensus common stock that will be distributed to holders of J2 Global common stock prior to the opening of the Nasdaq on October 8, 2021. The “when-issued” trading market for Ziff Davis common stock is a market for Ziff Davis common stock (previously J2 Global common stock) after giving effect to the distribution of Consensus common stock. J2 Global shares that trade in the "regular-way" market under the symbol "JCOM" up to the distribution date will trade with an entitlement to shares of Consensus common stock to be distributed pursuant to the distribution.

About J2 Global

J2 Global, Inc. (NASDAQ: JCOM) is a leading internet information and services company consisting of a portfolio of brands including IGN, Mashable, Humble Bundle, Speedtest, PCMag, RetailMeNot, Offers.com, Spiceworks, Ekahau, Everyday Health, BabyCenter and What To Expect in its Digital Media business and Consensus, eFax, eVoice, Moz, iContact, Campaigner, Vipre, and IPVanish in its Cloud Services business. J2 Global reaches more than 240 million people per month across its brands. As of December 31, 2020, J2 Global had achieved 25 consecutive fiscal years of revenue growth. For more information about J2 Global, please visit www.j2global.com.

On September 21, 2021, J2 Global announced that its Board of Directors approved its previously announced separation into two independent publicly traded companies – J2 Global, Inc., which will be known as Ziff Davis, Inc. after the separation (“J2,” “J2 Global” or “Ziff Davis”) and Consensus Cloud Solutions, Inc. (“Consensus”). The J2 Global Board of Directors declared a special dividend distribution of one share of Consensus common stock for every three shares of J2 Global common stock outstanding as of the close of business on October 1, 2021, the record date for the distribution. The separation is expected to be completed on October 7, 2021.

Following the separation, J2 Global will be renamed Ziff Davis, Inc. and will trade on Nasdaq under the ticker symbol “ZD.”

About Consensus Cloud Solutions, Inc.

Consensus Cloud Solutions, Inc. is a leading provider of digital cloud fax technology. Consensus offers eFax, a global leader in online faxing, Consensus Unite and Consensus Harmony interoperability solutions, Consensus Signal for secure automatic real-time healthcare communications, Consensus Clarity, an Optical Character recognition (OCR) and Natural Language Processing (NLP) solution, and jSign for electronic digital signatures. For more information about Consensus, visit www.consensus.com.

“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995

Certain statements in this Press Release are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the proposed spin-off transaction. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, including market and other conditions and include uncertainties regarding expected operating performance and financial position of the companies after the separation, whether the separation can be completed with the proposed form, terms or timing, or at all, the costs and expected benefits of the proposed separation, and the expected tax treatment of the transaction. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including those factors described in J2 Global’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed from time to time by J2 Global with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210929006010/en/

Rebecca Wright

(800) 577-1790

J2 Global, Inc.

investor@j2.com

Source: J2 Global, Inc.

FAQ

When will JCOM begin trading shares for Consensus and Ziff Davis?

When-issued trading for Consensus and Ziff Davis will start on September 30, 2021, with regular trading starting on October 8, 2021.

What is the special dividend distribution for JCOM shareholders?

JCOM shareholders will receive one share of Consensus for every three shares of JCOM held as of the record date, October 1, 2021.

What is J2 Global's new name after the separation?

After the separation, J2 Global will be renamed Ziff Davis and will trade under the ticker symbol 'ZD.'

What are the trading symbols for Consensus and Ziff Davis?

The trading symbol for Consensus will be 'CCSI' and for Ziff Davis it will be 'ZD' following the separation.