GreenBox POS, an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions issued an update to its previously announced plans to implement a special dividend series based on the public offering of a spinoff company (a “SpinCo”) related to its new smart contract technology business, branded as Coyni. In line with its previous announcement, the Company expects there to be two possible opportunities for shareholders of record of GreenBox to be awarded shares representation in the SpinCo.
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The Company previously announced that shareholders of record of GreenBox common shares on or about August 16, 2021 would receive 0.30 shares representation in the SpinCo for each share of GreenBox common stock held. However, as the Company is still analyzing optimal strategies and record dates related to the special dividend series, the first record date is postponed and will not be on August 16th. The Company has committed to announcing the first record date at least ten (10) calendar days prior to its implementation.
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GreenBox POS is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company’s applications enable an end-to-end suite of turnkey financial products with fraud detection technology, improving the efficiency of handling large-scale commercial processing volumes for its merchant clients.
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