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As I understand this spin-off IPO, DZTK retains 81% of the shares. Later those shares will be distributed to the DZTK shareholders, so we get .81 shares of PFSW (the IPO) for every DZTK share owned. Somebody jump in if I'm wrong here.

I won't go into the whole thing here, but there is a HUGE vibrant discussion of the DZTK/PFSW spinoff occuring at The Raging Bull:

It's like EVERYONE is just waiting for this thing to explode once PFSWeb spinsoff (very soon). In a nutshell, DZTK is at 19. DZTK without PFSW is worth $10 easy. If PFSW spins off and closes the day at 20 then DZTK is worth $10 plus 80% of 20; i.e. $26. Not bad. And it seems like a sure thing.

But if PFSW goes to 30, or 60. Good grief!

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