Multichannel teen marketer Alloy Inc.’s board of directors has approved the previously announced spin-off of its wholly owned subsidiary Delia’s Inc., which operates Alloy’s retail and catalog business, the New York company said yesterday.
As a result, Alloy will be distributing all outstanding shares of Delia’s common stock owned by Alloy to Alloy stockholders. The distribution is expected to take place on Dec. 19 and the trading of Delia’s common stock on Nasdaq will begin on or about the same day under the ticker symbol DLIA.
