LRAD Corp. (LRAD) Sets Record and Distribution Date for Spin Off
LRAD Corp. set the record and distribution date for the company’s spin off of one of its business segments into a separately traded and independent company. LRAD Corporation is spinning off its HSS technology business into a new company called the Parametric Sound Corporation. The company set September 10, 2010 as the record date for shareholders to be eligible to receive shares in the Parametric Sound Corporation. The shares will be distributed on September 27, 2010. Shareholders of LRAD Corporation will receive one share of the Parametric Sound Corporation for every two shares they own. The distribution is expected to…