Blackhawk's Spin-Off From Safeway Completed

(RTTNews) - Blackhawk Network Holdings, Inc. (HAWK) on Monday became a 100% publicly traded company as a result of Safeway Inc.'s (SWY) distribution of all its shares of Blackhawk Class B common stock to Safeway stockholders.

Shares of Blackhawk Class B common stock will start trading in the "regular way" on April 15. Prior to today's distribution, Safeway had held about 71.9% of the 52.6 million total outstanding Blackhawk shares, consisting of 37,838,709 shares of Blackhawk's Class B common stock, and 10,592 shares of Blackhawk's Class A common stock.

The distribution was made Monday in the form of a pro-rata common stock dividend of the shares of Blackhawk Class B common stock owned by Safeway to Safeway stockholders. Safeway stockholders received 0.164291 of a share of Blackhawk Class B common stock for every one share of Safeway common stock held as of the April 3, 2014 record date. Safeway, through its distribution agent, will deliver cash in lieu of a fractional share of Blackhawk Class B common stock.