On Thursday, August 1, executives and guests of Richmond, VA-based Straight Path Communications Inc., visited the NYSE to celebrate its spin-off from IDT Corporation (NYSE: IDT). Straight Path Communications holds, markets, and leases the wireless spectrum licenses that IDT acquired from Winstar Communications, as well as holds, protects, and licenses its valuable patent portfolio. These patents pertain to technologies that enable devices to find each other over the Internet and establish a point-to-point communications.
That same day, the common stock of Straight Path Communications will begin trading "regular way" on the NYSE MKT under the ticker symbol "STRP".
Shares of IDT Class B Common Stock will continue to trade on the New York Stock Exchange under the symbol "IDT".
To mark the occasion, David Jonas, President & CEO of Straight Path Communications, rang the Closing Bell at the NYSE. Video of the event will be available shortly.
About Straight Path Communications (NYSE MKT: STRP)
Straight Path Communications Inc. (SPCI) holds, markets, and leases its extensive holdings of 39 and 28 GHz fixed wireless spectrum licenses through its Straight Path Spectrum subsidiary. SPCI holds, protects, and licenses patent rights covering communications over computer networks, such as the Internet, through its Straight Path IP Group subsidiary.