Corteva, Inc. has announced that its Board of Directors has formally approved the previously disclosed separation of the company into two independent, publicly traded entities. The separation will split Corteva’s seed operating segment into a new company named Vylor Inc.
To execute the spin-off, the Board declared a pro rata dividend of all issued and outstanding shares of Vylor common stock to Corteva stockholders. The dividend will be paid to shareholders of record as of the close of business on September 24, 2026. The distribution is expected to occur prior to 9:30 a.m., New York City time, on October 1, 2026. Under the terms of the distribution, each Corteva stockholder will receive one share of Vylor common stock for every share of Corteva common stock held on the record date.
Shareholders will not receive fractional shares of Vylor common stock. Instead, they will receive cash in lieu of any fractional shares. The transaction is intended to be tax-free for U.S. federal income tax purposes, with the exception of any cash received in lieu of fractional shares.
The spin-off is subject to the satisfaction of customary conditions, which management expects will be met prior to the distribution. Following the completion of the separation, Vylor will become an independent, publicly traded company. Vylor is described as an advanced seed and genetics company focused on delivering innovation to farmers.
Trading in Vylor common stock on a "when-issued" basis is expected to begin on the New York Stock Exchange under the symbol "VYLR WI" on September 25, 2026. Regular-way trading under the symbol "VYLR" is expected to commence at the open of trading on October 1, 2026. During the "when-issued" trading period, Corteva common stock is expected to trade on two separate markets on the NYSE: a "regular-way" market under the symbol "CTVA" and an "ex-distribution" market under the symbol "CTVA WI."
