BBIG Stock News: 8 Big Takeaways From the Latest Cryptyde Spinoff Filing


What’s going on with Vinco Ventures (NASDAQ:BBIG) today? Shares of BBIG stock are up over 8% this morning and are slated to have their second green day in a row. The digital marketing and consumer products company is currently in the midst of a change up. Last September, Vinco Ventures announced that it would launch Cryptyde as a separate entity to Vinco Ventures. Cryptyde will focus on consumer-facing blockchain innovations through “selective acquisitions.” Since September, there have been few updates about Cryptyde and when it will officially launch. However, a new amended Form 10 filing received yesterday has BBIG stock investors excited about the future.

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The newly received Form 10 notes that Cryptyde will focus on “Web3 (decentralized internet) products, Bitcoin mining services, and consumer packaging.” While BBIG shareholders have been anxiously awaiting a solid launch date for Cryptyde, the amended Form 10 did not specify a date. However, the Form 10 did note that the “Separation is expected to be completed upon the distribution of the common stock of TYDE to stockholders of BBIG, described below, on or around [redacted] 2022.”

So, what else should investors in BBIG stock know about the amended Form 10 filing? Let’s dive right in.

BBIG Stock: 8 Things to Know About the Amended Form 10

  1. On the distribution date, for each 10 shares of BBIG stock owned, investors will receive 1 share of Cryptyde, which will have the ticker TYDE. Vinco Ventures did not disclose the distribution date.
  2. Following the distribution, Vinco Venture and Cryptyde will operate as separate companies. The Form 10 explains that “BBIG intends to distribute 100% of the shares of our common stock held by BBIG to holders of shares of BBIG common stock.”
  3. Vinco Ventures expects to grow Cryptyde through “both organic growth and strategic acquisitions.”
  4. Cryptyde plans on acquiring and creating Web 3.0 products that will build customer loyalty and satisfaction. Furthermore, Cryptyde will target consumer-facing Web 3.0 markets, such as video games, music and art.
  5. In addition, Cryptyde plans on bringing Bitcoin mining to the consumer level by offering “Bitcoin mining equipment and co-location services.”
  6. Cryptyde will also focus on the customized packaging business that will help customers generate brand awareness and image. The Form 10 adds that Cryptyde will use the “stability” from its packaging business to help fund its Web 3.0 and Bitcoin mining ventures.
  7. Risks to Cryptyde include cybersecurity hacks, the ability to raise capital, consumer preference changes and regulatory policies.
  8. For example, Cryptyde may be subject to “regulatory scrutiny, inquiries, investigations, fines, and other penalties” if it creates a crypto asset that is categorized as a security.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

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