Spinoff of PJT Partners (PJT) from the Blackstone Group (BX)

This action is a simple spinoff transaction in the accounting software.  Currently the Blackstone Group has not posted an easily found sample of cost basis allocation.

The Remaining basis percentage used in this document was calculated using the opening prices of Blackstone and PJT Partners on the completion date of the spinoff, 10/1/15. Your broker may use different prices so will get a different remaining basis percentage.


The Spinoff Entry

Go to Transactions > Spinoff  or Accounting > Securities > Record spinoff of securities depending on the version of the software being used. If you are unfamiliar with spinoff transactions you can get help at this URL: https://www.iclub.com/support/kb/default.asp?page=normal_spinoff

Here is the information you need to complete the spinoff.


Date: 10/1/15

Select Parent Security (or Parent Company) : Blackstone Group (BX)

Remaining Basis Percentage: 98.17

Cash received:  See your broker statement for cash-in-lieu received

Spinoff  Security (or Symbol of New Company) : PJT Partners(PJT)

 Shares received : .025 x (#of BX  shares owned)   (Remember to include fractional shares.)

For example, if you owned 100 BX shares, you should receive .025 x 100 = 2.5 PJT shares.

Price Per Share : 23.65 (Opening price on 10/1/15)  

Save the transaction and the spinoff has been entered.