Investor FAQs
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What was the official spin-off date for NOW Inc. from NOV?
The spin-off date was May 30, 2014, with regular way trading of stock beginning June 2, 2014.
Who is NOW Inc.’s stock transfer agent?
American Stock Transfer & Trust Co., LLC
6201 15th Avenue
Brooklyn, New York 11219
(800) 937-5449
6201 15th Avenue
Brooklyn, New York 11219
(800) 937-5449
What is a spin-off?
A spin-off is the development of an independent company through the sale or distribution of new shares of an existing business/division of a parent company. Now that the spin-off has occurred, NOW Inc. is its own publicly traded company, with its own management, board of directors and trading symbol.
Were shares of DNOW stock distributed to existing NOV shareholders? If so, what was the distribution ratio?
Yes. Each NOV shareholder received 1 share of DNOW stock for every 4 shares of NOV stock that he/she owned outright.
Does NOV own or retain a controlling interest in DNOW?
No. NOV does not own any of the common stock of NOW Inc. DNOW is now publicly owned by its shareholders, just as NOV is. Each company is an independent, publicly traded company with its own management team and Board of Directors.
Where can I find the cost basis allocation document in regards to my NOV and DNOW shares?
The cost basis allocation document can be found at http://www.nov.com/. On their menu click “investor” and then click on the subject “Shareholder Information”. The page(s) provides information related to the cost basis allocation and tax implications for shares received through the spinoff of NOW Inc. in Q2’12 at the link “Important U.S.A. Federal Income Tax Information Concerning The Now Inc. Stock Distribution.”. You may also review FAQ questions 8 and 9.
If I sold, on or before the distribution date of May 30, 2014, shares of NOV common stock that I held on the record date of May 22, 2014, was I entitled to receive shares of NOW Inc. common stock in the distribution?
No, if you owned shares of NOV common stock on the record date of May 22, 2014 and sold those shares on the regular way market on or before the distribution date of May 30, 2014, you also sold the shares of NOW Inc. common stock that would have been distributed to you in the distribution. In this case, you (the seller) were not entitled to receive shares of NOW Inc. common stock in the distribution – the purchaser of your shares of NOV common stock would have been entitled to receive shares of NOW Inc. common stock in the distribution.
How can I obtain a copy of the Annual Report or other SEC documents such as a 10-K, a 10-Q, or a prospectus?
DNOW does not publish an Annual Report. All other SEC documents can be downloaded from the SEC or the link on the DNOW Investor Relations site. Please see the following links.
Link to SEC: NOW Inc. SEC Filings
Link to: DNOW IR Site SEC Filings
Where can I find more information about DNOW?
For more information on DNOW please visit https://www.dnow.com