April 3, 2023
(Zephyr Cove, NV)
On March 30, 2023, VirnetX Holding Corporation (NYSE: VHC) (“VirnetX”), an Internet security software and technology company with patented technology for secure communications, announced that its Board of Directors has declared a special cash dividend of $1.00 per common share (the “Special Dividend”). The Special Dividend will be paid on or about April 17, 2023 to shareholders of record on April 10, 2023.
The New York Stock Exchange (“NYSE”) has determined that VirnetX’s shares will trade with “due-bills” representing an assignment of the right to receive the Special Dividend up through and inclusive of the payment date of April 17, 2023. The ex-dividend date will be April 18, 2023, the first business day following the payment date. Stockholders who sell their shares on or before the payment date will not be entitled to receive the Special Dividend. Due-bills obligate a seller of shares to deliver the dividend payable on such shares to the buyer. The due-bill obligations are settled customarily between the brokers representing the buyers and sellers of the shares. VirnetX has no obligation for either the amount of the due-bill or the processing of the due-bill. Buyers and sellers of VirnetX’s shares should consult their broker before trading to be sure they understand the effect of the NYSE’s due-bill procedures.
The tax treatment of holding common stock to any particular stockholder will depend on the stockholder’s particular tax circumstances. VirnetX stockholders are urged to consult their tax advisor regarding the U.S. federal, state, local and foreign income and other tax consequences to them, in light of their particular investment or tax circumstances, of the receipt of the special dividend.
VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE and 5G security. VirnetX’s software and technology solutions, including its Secure Domain Name Registry and Technology, VirnetX One™, VirnetX War Room™, VirnetX Matrix™, and Gabriel Connection Technology™, are designed to facilitate secure communications and to create a secure environment for real-time communication applications such as cloud computing, instant messaging, VoIP, smart phones, e-Readers and video conferencing. VirnetX’s patent portfolio includes over 200 U.S. and foreign granted patents, validations and pending applications. For more information, please visit: http://www.virnetx.com/.
Special Note Regarding Forward-Looking Statements
This press release should be read in conjunction with our Annual Report on Form 10-K (the “Form 10-K”), filed with the Securities and Exchange Commission on March 31, 2023. Statements herein may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
These forward-looking statements are based upon our current expectations, estimates, assumptions, and beliefs concerning future events and conditions and may discuss, among other things, expectations about products and product performance, expectations about future cash distributions or dividends and the impact of potential and ongoing litigation. Any statement that is not historical in nature is a forward- looking statement and may be identified by the use of words and phrases such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will be,” “will continue,” “will likely result in,” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside our control, and could cause actual results to differ materially from such statements and from our historical results and experience. These risks, uncertainties and other factors include, but are not limited to risks detailed in our filings with the Securities and Exchange Commission (the “SEC”), including the Form 10-K. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered a complete list. Any forward-looking statement speaks only as of the date on which such statement is made.
EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.