Nxt-ID, Inc. Announces Filing of Form 10 Registration Statement for Planned Spin-Off of its Payments Business
NXT-ID Inc. (NXTD)
US:NASDAQ Investor Relations:
nxt-id.com/investor-relations
Company Research
Source: PR Newswire
SEBASTIAN, Florida, April 30, 2019 /PRNewswire/ -- Nxt-ID, Inc. (NASDAQ: NXTD) today announced that a Form 10 Registration Statement was filed with the U.S. Securities and Exchange Commission in connection with the planned spin-off of its payments, authentication and credential management business (the "Payments Business"). The Form 10 Registration Statement is used to register a class of securities that are intended to be traded publicly and is subject to review and approval of the Securities and Exchange Commission. "This filing marks an important next step in the planned spin-off of our Fit Pay, Inc. ("Fit Pay") subsidiary and our payments business," said Chief Executive Officer Gino Pereira. "The spin-off will create two independent companies focused on delivering significant ongoing value to our shareholders within their respective markets."Nxt-ID (or the "Company") previously announced that it intends to separate its payments, authentication and credential management business in
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