The Securities and Exchange Commission (SEC) has declared Armstrong's Registration Statement on Form 10 effective.
As previously announced, the distribution will be payable to Armstrong's shareholders of record as of 5 p.m. EST on the March 21 record date for the distribution. Armstrong expects to complete the pro rata distribution of all of the Armstrong Flooring (AFI) shares on April 1. Upon completion of the distribution, shareholders will retain their shares and will receive one AFI share for every two Armstrong shares held as of the record date, according to the company. Shareholders will receive cash in lieu of fractional AFI shares. Any holder of record who sells their shares of Armstrong on or before the distribution date of April 1 will be selling their entitlement of AFI to the buyer of their Armstrong shares. Holders are encouraged to speak with their financial advisor before selling their shares. Armstrong has applied to list its common stock on the New York Stock Exchange under the symbol "AFI."