Business & Finance
PDL BioPharma announces distribution in the form of a pro rata common stock dividend of shares of Evofem
6 May 2020 -

The board of directors PDL BioPharma Inc (Nasdaq:PDLI) declared a distribution to stockholders of 13,333,334 shares of common stock of Evofem Biosciences Inc (Nasdaq:EVFM) under the special one-time dividend, the company disclosed on Tuesday.

These Evofem shares will be distributed on 21 May 2020 to PDL shareholders of record at the close of business as of 15 May 2020.

The distribution will take place in the form of a pro rata common stock dividend of shares of Evofem to each PDL stockholder of record on the record date. As of 5 May 2020, PDL had 116,346,762 shares of common stock, par value USD0.01 per share, outstanding.

Founded in 1986, PDL BioPharma is engaged in the discovery of a new generation of targeted treatments that have had a profound impact on patients living with different cancers as well as a variety of other debilitating diseases.

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