Completed Spinoffs

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  Spinoff Name Spinoff Symbol Announced Date Spinoff Date First Day Closing Spinoff Last Price Spinoff Performance Spinoff Current Volume Parent Name Parent Symbol Parent First Day Closing Parent Last Price Parent Performace Parent Current Volume Type
Douglas Elliman Inc. DOUG 11/08/2021 12/30/2021 12.13 9.24 -23.83% 319,117 Vector Group Ltd VGR 11.30 11.58 2.48% 1,018,065 Spinoff
Vector Group Ltd, spinoff details:

November 08, 2021: Vector Group Ltd. (VGR) announced that Douglas Elliman Inc. plans to file a Form 10 registration statement with the United States Securities and Exchange Commission in connection with its intended spin-off into a standalone, publicly-traded company.

Investor presentation

November 10, 2021: Form 10-12B

December 10, 2021: Vector Group Ltd. (VGR) announced that its board of directors has approved the spin-off of Douglas Elliman Inc.  which is expected to be completed in late-December.

December 30, 2021: Vector Group Ltd. (VGR) has completed the spin-off of Douglas Elliman Inc. into a standalone, publicly traded company. Douglas Elliman’s common stock will begin “regular way” trading on the New York Stock Exchange on December 30, 2021 under the symbol “DOUG” and Vector Group will continue to trade on the NYSE under the symbol “VGR”.

OceanPal Inc. OP 10/19/2021 11/30/2021 5.22 0.5605 -89.26% 15,919,533 Diana Shipping Inc. DSX 4.20 3.57 -15.00% 783,966 Spinoff
Diana Shipping Inc., spinoff details:

Diana Shipping Inc. (DSX), a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a wholly-owned subsidiary, it has filed a registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 to effect a spin-off of three of the Company’s older dry bulk vessels. OceanPal Inc., the newly formed subsidiary that will act as the holding company for the three dry bulk vessels, has applied to have its common shares listed on the Nasdaq Capital Market.

Update(s):

October 26, 2021: Diana Shipping Inc. (DSX), announced that it has received approval, subject to official notice of issuance, for the listing of the common shares of OceanPal Inc. on the Nasdaq Capital Market under the ticker symbol “OP”.

November 9, 2021:  Diana Shipping Inc. (DSX), announced that in connection with the previously announced spin-off of its wholly-owned subsidiary OceanPal Inc., the Company has changed the anticipated distribution date from November 9, 2021 to November 17, 2021 due to procedural delays.

November 17, 2021: Diana Shipping Inc. (DSX) announced that the distribution date for the previously announced spin-off of its wholly-owned subsidiary, OceanPal Inc., has been extended.

November 24, 2021: Diana Shipping Inc. (DSX), announced that the distribution date for the previously announced spin-off of its wholly-owned subsidiary, OceanPal Inc., will be November 29, 2021,

November 30, 2021: Diana Shipping Inc. (DSX), announced that it has completed the spin-off of its wholly-owned subsidiary, OceanPal Inc., effective November 29, 2021. The Company’s shareholders received one OceanPal Inc. share for every 10 shares of Diana Shipping Inc. held on the record date of November 3, 2021. To the extent the distribution would have resulted in any shareholder owning a fractional share of OceanPal Inc., such fractional share was rounded up to the next whole number of shares.

 

Orion Office REIT Inc ONL 04/29/2021 11/15/2021 21.30 16.42 -22.91% 533,323 Realty Income Corporation O 71.14 67.92 -4.53% 4,157,859 Carve Out
Realty Income Corporation, spinoff details:

April 29, 2021: Realty Income Corporation (O) and VEREIT (VER) announced that the two companies have entered into a definitive merger agreement by which Realty Income will acquire VEREIT in an all-stock transaction. Immediately following the closing, the companies expect to effectuate a taxable spin-off of substantially all of the office properties of both companies into a new, self-managed, publicly-traded REIT (“SpinCo”). Following the merger and the spin-off, Realty Income will continue as the surviving public entity.

Press Release

April 29, 2021: Investor presentation 

Prospectus

October 04, 2021: Form 10-12B

October 22, 2021: Realty Income Corporation (O), VEREIT, Inc. (VER) announced that they anticipate closing their previously announced merger on November 1, 2021. Realty Income has declared November 2, 2021, as the record date for the spin-off and November 12, 2021, as the distribution date for the spin-off.

November 15, 2021: Realty Income Corporation (O), announced it has completed the spin-off of substantially all of its office assets into a new independent, publicly traded REIT called Orion Office REIT Inc. Orion is listed on the New York Stock Exchange ("NYSE") under the symbol "ONL."

Loyalty Ventures Inc. LYLT 05/12/2021 11/08/2021 49.08 31.75 -35.31% 313,984 Alliance Data Systems Corporation ADS 74.97 64.61 -13.82% 792,282 Spinoff
Alliance Data Systems Corporation, spinoff details:

May 12, 2021: Alliance Data Systems Corporation (ADS) plans to spin off one of its business segments, LoyaltyOne.

Press Release

September 1, 2021: Form 10-12B

Investor Presentation

Update(s):

October 13, 2021: Alliance Data Systems Corporation (ADS), a leading provider of data-driven marketing, loyalty, and payment solutions, announced that its Board of Directors has approved the separation of Alliance Data's LoyaltyOne segment into an independent, publicly-traded company, Loyalty Ventures Inc.

November 08, 2021: Loyalty Ventures Inc. (LYLT), announced that it has completed its previously announced separation from Alliance Data Systems Corporation and is now an independent, publicly traded company. Loyalty Ventures common stock will begin regular-way trading today on Nasdaq under the ticker symbol “LYLT”.

2seventy bio, Inc. TSVT 01/11/2021 11/04/2021 26.65 20.07 -24.69% 689,913 bluebird bio, Inc. BLUE 13.14 7.24 -44.90% 11,266,803 Splitoff
bluebird bio, Inc., spinoff details:

January 11, 2021: bluebird bio (BLUE) announced its intent to separate its severe genetic disease and oncology businesses into differentiated and independent publicly traded companies. bluebird bio will retain focus on severe genetic disease (SGD) and will launch its oncology business as a new entity. bluebird bio’s Board of Directors approved the intent to separate into two companies and it is anticipated that the spin out of Oncology Newco is to be tax-free to shareholders, subject to receipt of a favorable Internal Revenue Service (IRS) ruling. Expected executive team, employee and BOD transitions will be effective as of the closing of the separation anticipated to be in the Q4 2021 timeframe.

Investor Presentation

Update(s):

September 9, 2021: Form 10-12B

October 8, 2021: bluebird bio, Inc. (BLUE) today announced the filing by 2seventy bio of an updated Form 10 Registration Statement with the U.S. Securities and Exchange Commission. This Form 10 reflects bluebird bio’s plans for a tax-free spin-off of its oncology programs and portfolio into 2seventy bio as a publicly traded company. The spin-off is on track to be completed by early November 2021.

October 18, 2021: bluebird bio, Inc. (BLUE) announced that October 19, 2021 has been set as the record date for the dividend of shares of common stock of 2seventy to be distributed to bluebird stockholders in order to effect the separation of bluebird bio and 2seventy bio, Inc. into two independent, publicly traded companies. The share dividend is expected to be distributed to bluebird stockholders on or about November 4, 2021.

November 04, 2021: bluebird bio, Inc. (BLUE) announced the company has completed the tax-free spin-off of its oncology programs and portfolio into 2seventy bio, Inc., an independent, publicly-traded company. 2seventy will begin regular-way trading on the NASDAQ under the stock ticker symbol “TSVT” on November 5, 2021. bluebird bio will continue to trade under the stock ticker symbol “BLUE.”

Kyndryl Holdings, Inc. KD 10/08/2020 11/03/2021 28.50 16.5 -42.11% 1,760,874 International Business Machines Corporation IBM 119.94 129.35 7.85% 5,076,257 Carve Out
International Business Machines Corporation, spinoff details:

October 8, 2020: IBM (IBM) announced that it will accelerate its hybrid cloud growth strategy to drive digital transformations for its clients. Additionally, IBM will separate its Managed Infrastructure Services unit of its Global Technology Services division into a new public company (“NewCo”). This creates two industry-leading companies, each with strategic focus and flexibility to drive client and shareholder value. The separation is expected to be achieved as a tax-free spin-off to IBM shareholders, and completed by the end of 2021.

January 07, 2021: Martin Schroeter, a former chief financial officer and senior sales executive at IBM(IBM), will be the chief executive officer of “NewCo,” the looming spinoff from Big Blue that will focus on business infrastructure services.

April 12, 2021: IBM (IBM) announced that Kyndryl will be the name of the new, independent company that will be created following the separation of its Managed Infrastructure Services business, which is expected to occur by the end of 2021.

September 28, 2021: Kyndryl, the new, independent public company that will be created following the separation of IBM's (IBM) Managed Infrastructure Services business, announced the company’s first Board of Directors and the selection of Martin Schroeter as Kyndryl board chairman.

September 28, 2021: Kyndryl will list on the New York Stock Exchange under the symbol "KD".

Form 10-12B

October 12, 2021: IBM (IBM) that its board of directors has approved the previously announced separation of Kyndryl, the company’s managed infrastructure services business. The distribution is expected to occur after close of market on November 3, 2021.

October 14, 2021: Kyndryl, the independent public company that will be created following the separation of IBM's (IBM) Managed Infrastructure Services business, announced that it will host a virtual Investor Day on Tuesday, October 19, 2021

October 26, 2021: IBM (IBM) board of directors declared a regular quarterly cash dividend of $1.64 per common share, payable December 10, 2021 to stockholders of record November 10, 2021. This $1.64 per share payment is the first dividend that will be paid by IBM after the expected November 3, 2021 separation of Kyndryl.

November 03, 2021: IBM (IBM) announced that it has completed the separation of its managed infrastructure services business to Kyndryl. Starting on November 4, 2021, Kyndryl will begin “regular way” trading on the New York Stock Exchange under the symbol “KD.” Each holder of IBM common stock will receive one share of Kyndryl common stock for every five shares of IBM common stock held on October 25, 2021, the record date for the distribution.

  Spinoff Name Announced Date Parent Symbol
Douglas Elliman Inc. 11/08/2021 VGR
Vector Group Ltd, spinoff details:

November 08, 2021: Vector Group Ltd. (VGR) announced that Douglas Elliman Inc. plans to file a Form 10 registration statement with the United States Securities and Exchange Commission in connection with its intended spin-off into a standalone, publicly-traded company.

Investor presentation

November 10, 2021: Form 10-12B

December 10, 2021: Vector Group Ltd. (VGR) announced that its board of directors has approved the spin-off of Douglas Elliman Inc.  which is expected to be completed in late-December.

December 30, 2021: Vector Group Ltd. (VGR) has completed the spin-off of Douglas Elliman Inc. into a standalone, publicly traded company. Douglas Elliman’s common stock will begin “regular way” trading on the New York Stock Exchange on December 30, 2021 under the symbol “DOUG” and Vector Group will continue to trade on the NYSE under the symbol “VGR”.

OceanPal Inc. 10/19/2021 DSX
Diana Shipping Inc., spinoff details:

Diana Shipping Inc. (DSX), a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a wholly-owned subsidiary, it has filed a registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 to effect a spin-off of three of the Company’s older dry bulk vessels. OceanPal Inc., the newly formed subsidiary that will act as the holding company for the three dry bulk vessels, has applied to have its common shares listed on the Nasdaq Capital Market.

Update(s):

October 26, 2021: Diana Shipping Inc. (DSX), announced that it has received approval, subject to official notice of issuance, for the listing of the common shares of OceanPal Inc. on the Nasdaq Capital Market under the ticker symbol “OP”.

November 9, 2021:  Diana Shipping Inc. (DSX), announced that in connection with the previously announced spin-off of its wholly-owned subsidiary OceanPal Inc., the Company has changed the anticipated distribution date from November 9, 2021 to November 17, 2021 due to procedural delays.

November 17, 2021: Diana Shipping Inc. (DSX) announced that the distribution date for the previously announced spin-off of its wholly-owned subsidiary, OceanPal Inc., has been extended.

November 24, 2021: Diana Shipping Inc. (DSX), announced that the distribution date for the previously announced spin-off of its wholly-owned subsidiary, OceanPal Inc., will be November 29, 2021,

November 30, 2021: Diana Shipping Inc. (DSX), announced that it has completed the spin-off of its wholly-owned subsidiary, OceanPal Inc., effective November 29, 2021. The Company’s shareholders received one OceanPal Inc. share for every 10 shares of Diana Shipping Inc. held on the record date of November 3, 2021. To the extent the distribution would have resulted in any shareholder owning a fractional share of OceanPal Inc., such fractional share was rounded up to the next whole number of shares.

 

Orion Office REIT Inc 04/29/2021 O
Realty Income Corporation, spinoff details:

April 29, 2021: Realty Income Corporation (O) and VEREIT (VER) announced that the two companies have entered into a definitive merger agreement by which Realty Income will acquire VEREIT in an all-stock transaction. Immediately following the closing, the companies expect to effectuate a taxable spin-off of substantially all of the office properties of both companies into a new, self-managed, publicly-traded REIT (“SpinCo”). Following the merger and the spin-off, Realty Income will continue as the surviving public entity.

Press Release

April 29, 2021: Investor presentation 

Prospectus

October 04, 2021: Form 10-12B

October 22, 2021: Realty Income Corporation (O), VEREIT, Inc. (VER) announced that they anticipate closing their previously announced merger on November 1, 2021. Realty Income has declared November 2, 2021, as the record date for the spin-off and November 12, 2021, as the distribution date for the spin-off.

November 15, 2021: Realty Income Corporation (O), announced it has completed the spin-off of substantially all of its office assets into a new independent, publicly traded REIT called Orion Office REIT Inc. Orion is listed on the New York Stock Exchange ("NYSE") under the symbol "ONL."

Loyalty Ventures Inc. 05/12/2021 ADS
Alliance Data Systems Corporation, spinoff details:

May 12, 2021: Alliance Data Systems Corporation (ADS) plans to spin off one of its business segments, LoyaltyOne.

Press Release

September 1, 2021: Form 10-12B

Investor Presentation

Update(s):

October 13, 2021: Alliance Data Systems Corporation (ADS), a leading provider of data-driven marketing, loyalty, and payment solutions, announced that its Board of Directors has approved the separation of Alliance Data's LoyaltyOne segment into an independent, publicly-traded company, Loyalty Ventures Inc.

November 08, 2021: Loyalty Ventures Inc. (LYLT), announced that it has completed its previously announced separation from Alliance Data Systems Corporation and is now an independent, publicly traded company. Loyalty Ventures common stock will begin regular-way trading today on Nasdaq under the ticker symbol “LYLT”.

2seventy bio, Inc. 01/11/2021 BLUE
bluebird bio, Inc., spinoff details:

January 11, 2021: bluebird bio (BLUE) announced its intent to separate its severe genetic disease and oncology businesses into differentiated and independent publicly traded companies. bluebird bio will retain focus on severe genetic disease (SGD) and will launch its oncology business as a new entity. bluebird bio’s Board of Directors approved the intent to separate into two companies and it is anticipated that the spin out of Oncology Newco is to be tax-free to shareholders, subject to receipt of a favorable Internal Revenue Service (IRS) ruling. Expected executive team, employee and BOD transitions will be effective as of the closing of the separation anticipated to be in the Q4 2021 timeframe.

Investor Presentation

Update(s):

September 9, 2021: Form 10-12B

October 8, 2021: bluebird bio, Inc. (BLUE) today announced the filing by 2seventy bio of an updated Form 10 Registration Statement with the U.S. Securities and Exchange Commission. This Form 10 reflects bluebird bio’s plans for a tax-free spin-off of its oncology programs and portfolio into 2seventy bio as a publicly traded company. The spin-off is on track to be completed by early November 2021.

October 18, 2021: bluebird bio, Inc. (BLUE) announced that October 19, 2021 has been set as the record date for the dividend of shares of common stock of 2seventy to be distributed to bluebird stockholders in order to effect the separation of bluebird bio and 2seventy bio, Inc. into two independent, publicly traded companies. The share dividend is expected to be distributed to bluebird stockholders on or about November 4, 2021.

November 04, 2021: bluebird bio, Inc. (BLUE) announced the company has completed the tax-free spin-off of its oncology programs and portfolio into 2seventy bio, Inc., an independent, publicly-traded company. 2seventy will begin regular-way trading on the NASDAQ under the stock ticker symbol “TSVT” on November 5, 2021. bluebird bio will continue to trade under the stock ticker symbol “BLUE.”

Kyndryl Holdings, Inc. 10/08/2020 IBM
International Business Machines Corporation, spinoff details:

October 8, 2020: IBM (IBM) announced that it will accelerate its hybrid cloud growth strategy to drive digital transformations for its clients. Additionally, IBM will separate its Managed Infrastructure Services unit of its Global Technology Services division into a new public company (“NewCo”). This creates two industry-leading companies, each with strategic focus and flexibility to drive client and shareholder value. The separation is expected to be achieved as a tax-free spin-off to IBM shareholders, and completed by the end of 2021.

January 07, 2021: Martin Schroeter, a former chief financial officer and senior sales executive at IBM(IBM), will be the chief executive officer of “NewCo,” the looming spinoff from Big Blue that will focus on business infrastructure services.

April 12, 2021: IBM (IBM) announced that Kyndryl will be the name of the new, independent company that will be created following the separation of its Managed Infrastructure Services business, which is expected to occur by the end of 2021.

September 28, 2021: Kyndryl, the new, independent public company that will be created following the separation of IBM's (IBM) Managed Infrastructure Services business, announced the company’s first Board of Directors and the selection of Martin Schroeter as Kyndryl board chairman.

September 28, 2021: Kyndryl will list on the New York Stock Exchange under the symbol "KD".

Form 10-12B

October 12, 2021: IBM (IBM) that its board of directors has approved the previously announced separation of Kyndryl, the company’s managed infrastructure services business. The distribution is expected to occur after close of market on November 3, 2021.

October 14, 2021: Kyndryl, the independent public company that will be created following the separation of IBM's (IBM) Managed Infrastructure Services business, announced that it will host a virtual Investor Day on Tuesday, October 19, 2021

October 26, 2021: IBM (IBM) board of directors declared a regular quarterly cash dividend of $1.64 per common share, payable December 10, 2021 to stockholders of record November 10, 2021. This $1.64 per share payment is the first dividend that will be paid by IBM after the expected November 3, 2021 separation of Kyndryl.

November 03, 2021: IBM (IBM) announced that it has completed the separation of its managed infrastructure services business to Kyndryl. Starting on November 4, 2021, Kyndryl will begin “regular way” trading on the New York Stock Exchange under the symbol “KD.” Each holder of IBM common stock will receive one share of Kyndryl common stock for every five shares of IBM common stock held on October 25, 2021, the record date for the distribution.

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