Spin-off On May 25, 2021, Vimeo completed its separation from the remaining businesses of IAC/InterActiveCorp (“IAC”) through a series of transactions (which we refer to as the “Spin-off”) that resulted in the pre-transaction stockholders of IAC directly owning shares in both IAC and Vimeo, and in Vimeo becoming a separately traded public company. The Spin-off was structured to include the following steps: •Certain restructuring transactions, including, among other things, the transfer to Vimeo of IAC’s equity interests in Vimeo.com, Inc. (“Vimeo OpCo,” formerly known as Vimeo, Inc.), and the repayment by Vimeo OpCo of all outstanding intercompany debt owed to IAC and its subsidiaries (other than Vimeo OpCo’s subsidiaries). •Amending IAC’s certificate of incorporation to provide for: •the reclassification of each share of IAC common stock, par value $0.001 into (i) one share of IAC common stock, par value $0.0001 and (ii) 1/100th of a share of IAC Series 1 mandatorily exchangeable preferred stock that was automatically exchanged for a number of shares of Vimeo common stock equal to an exchange ratio of 1.6235 (the “Spin-off Exchange Ratio,” with holders receiving cash in lieu of any fractional shares of Vimeo common stock resulting, after aggregation, from the reclassification); and •the…
Read More
VIMEO, INC. Management's Discussion and Analysis of Financial Condition and Results of …
