The Board of LICT Corporation (OTCPK:LICT) announced the spin-off of 81% stake of MachTen, Inc. on May 15, 2023. As per the transaction, LICT Corporation shareholders will receive 150 shares of MachTen common stock, for each share of LICT Corporation common stock. As of July 18, 2023, U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form 10 filed by MachTen, Inc. It is expected that the distribution will be made in the third quarter.

The record date of transaction is July 31, 2023. As of August 5, 2023, LICT Board has approved the transaction. As of August 14, 2023, LICT Corp.

reported that the U.S. Securities and Exchange Commission has cleared the spin-off. The transaction is expected to close on August 14, 2023. As of August 11, 2023, LICT has changed the proposed distribution date from August 14 to August 31, 2023.

American Stock Transfer & Trust Company, LLC acted as registrar to LICT Corporation.