PR Newswire
NEWARK, N.J., March 2, 2018
NEWARK, N.J., March 2, 2018 /PRNewswire/ -- IDT Corporation (NYSE: IDT) and Rafael Holdings, Inc. today announced that the SEC has completed its review of the registration statement and information statement related to the spin-off of IDT's Rafael Holdings subsidiary to IDT stockholders. The record date for IDT stockholders entitled to receive the distribution of Rafael Holdings stock has been changed to March 13, 2018, and the distribution date for the spin-off has been changed to on or about March 26, 2018.
The timeline for the spin-off is as follows:
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent IDT's current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. IDT's filings with the SEC and Rafael Holding's amended Form 10 Registration Statement provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, neither IDT nor Rafael Holdings assumes any obligation to update any forward-looking statements.
About Rafael Holdings, Inc:
Rafael Holdings holds commercial real estate assets and interests in two clinical stage, oncology focused pharmaceutical companies. The real estate holdings include properties in Newark and Piscataway, New Jersey and Jerusalem, Israel. The pharmaceutical holdings consist of interests in Rafael Pharmaceuticals, Inc. and a majority stake in Lipomedix Pharmaceuticals Ltd., both of which are focused on development and commercialization of drugs in the oncology space.
About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship Boss Revolution® and net2phone® brands. IDT Telecom's wholesale business is a leading global carrier of international long-distance calls. For more information on IDT, visit www.idt.net.
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SOURCE IDT Corporation
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