The transaction is subject to approvalīy the majority of the outstanding shares of Class V Common Stock, excluding those shares held by affiliates of Dell Technologies and is expected to close in calendar Q4 of 2018.ĭell Technologies Class C common stock will become publicly listed on the New York Stock ExchangeĭVMT stock will be delisted and eliminated July 2, 2018, when Dell Technologies announced plans to retire the VMware tracking stock (DVMT) and replace those shares with a mix of cash and publicly traded Dell Technologies Class C common stock. In February we announced our intent to explore strategic options for the company, and clarified our intentions on Note: This statement should not be revised in any way.Īdditional context for spokesperson background only. Interests of Dells stockholders and we are continuing to proceed to seek stockholder approval for the transaction. The special committee of the board of directors believe that the enhanced Class V transaction is in the best Or partners, and VMware will remain independent. If consummated, this transaction will help simplify the companys ownership structure, but wont change how we interact with customers Replace those shares with a mix of cash and publicly traded Dell Technologies Class C common stock. We are recapitalizing the company by proposing a transaction to retire the VMware tracking stock (DVMT) and Please use the language below when describing this transaction. September 2016 EMC merger when it issued the DVMT Stock. Dell Technologies has been a public company (that is privately controlled) since the Its tempting to summarize this complex transaction into a simple statement like ∽ell is going public, that statement is not fully accurate. How should I think about the transaction? Technologies Class C Common Stock, which is not publicly traded today. It is also known as ∼lass V Common Stock, ∽VMT, the tracking stock and the tracker.Ĭlass C stock : We use the term ∼lass C stock below to refer to Dell ∽VMT stock below to represent the publicly traded stock issued during the EMC merger. The following was posted internally at Dell Technologies Inc. Pursuant to Rule 425 under the Securities Act of 1933Īnd deemed filed pursuant to Rule 14a-6 of the
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