×

Subscribe Today

Get our free articles delivered directly to your email!

Continue reading

Completed Spinoffs

Filter by: Upcoming | Completed

Note: Premium members can sort this table by 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 and Type.

 Spinoff NameSpinoff SymbolAnnounced DateSpinoff DateFirst Day ClosingSpinoff Last PriceSpinoff PerformanceSpinoff Current VolumeParent NameParent SymbolParent First Day ClosingParent Last PriceParent PerformaceParent Current VolumeType
NextrackerNXT10/25/202301/02/202447.4257.96522.24%3,200,014Flex Ltd.FLEX30.3028.15-7.10%3,755,000Spinoff
Flex Ltd., spinoff details:

 

Nextracker (NXT), one of the leading providers of intelligent solar tracker and software solutions, announced Flex Ltd.’s (FLEX) plan to effect a spin-off of all of its remaining interests in Nextracker Inc. to Flex shareholders which would result in a separation by Flex from its ownership in Nextracker.
The separation from Flex is currently expected to close in fiscal Q4 ending March 31, 2024.
David A. Rubin - Vice President-Investor Relations, Flex Ltd.
https://www.sec.gov/Archives/edgar/data/866374/000119312523264151/d565372d425.htm
Earlier today, we were pleased to announce our plan to spin-off all of Flex’s remaining interest in Nextracker to Flex shareholders. As previously disclosed, Flex retained the option to affect the spin-off pursuant to a merger agreement entered into by Flex and Nextracker in connection with Nextracker’s initial public offering. We believe that the spin-off is the most advantageous form of separation for Flex, Nextracker, and our respective shareholders. Specifically, it provides the opportunity to distribute Flex’s interest in Nextracker to Flex shareholders in a tax-free manner for US federal income tax purposes and allows Flex to focus on our core strategies and long-term value creation for our shareholders.

Nextracker (NXT), one of the leading providers of intelligent solar tracker and software solutions, announced Flex Ltd.’s (FLEX) plan to effect a spin-off of all of its remaining interests in Nextracker Inc. to Flex shareholders which would result in a separation by Flex from its ownership in Nextracker.

The separation from Flex is currently expected to close in fiscal Q4 ending March 31, 2024.

David A. Rubin - Vice President-Investor Relations, Flex Ltd.

Earlier today, we were pleased to announce our plan to spin-off all of Flex’s remaining interest in Nextracker to Flex shareholders. As previously disclosed, Flex retained the option to affect the spin-off pursuant to a merger agreement entered into by Flex and Nextracker in connection with Nextracker’s initial public offering. We believe that the spin-off is the most advantageous form of separation for Flex, Nextracker, and our respective shareholders. Specifically, it provides the opportunity to distribute Flex’s interest in Nextracker to Flex shareholders in a tax-free manner for US federal income tax purposes and allows Flex to focus on our core strategies and long-term value creation for our shareholders.

Update(s):

January 2, 2024: Flex (FLEX) announced the completion of the spin-off of all of its remaining interest in Nextracker to Flex shareholders on a pro rata basis. 

Under the previously disclosed terms of the transaction, Flex shareholders received approximately 0.17 shares of Nextracker Class A common stock for every Flex ordinary share held as of the record date of December 29, 2023, with 74,432,619 shares of Nextracker Class A common stock issued to Flex shareholders in the aggregate. Flex shareholders will receive cash in lieu of any fractional shares. 

As a result of the completion of the spin-off, Flex no longer directly or indirectly holds any shares of Nextracker common stock or any securities convertible into or exchangeable for shares of Nextracker common stock. 

Flex ordinary shares will continue to trade on Nasdaq under the ticker symbol "FLEX" and shares of Nextracker Class A common stock will continue to trade on Nasdaq under the ticker symbol "NXT".

Nextracker Investor Relations

Worthington Steel, Inc.WS09/29/202212/01/202322.2030.3136.53%99,707Worthington Enterprises, Inc.WOR45.5664.2340.98%466,685Spinoff
Worthington Enterprises, Inc., spinoff details:

 Worthington Industries, Inc. (WOR), a leading industrial manufacturing company, announced that its Board of Directors unanimously approved a plan to pursue a separation of the company’s Steel Processing business into a new public company. 

September 29, 2022: Company Separation Presentation

Update(s):

August 4, 2023: Worthington 2024: Worthington Enterprises Overview - Investor Presentation

Worthington 2024: Worthington Steel Overview Investor Presentation

September 26, 2023: Worthington Enterprises announced it will include the company’s Building Products, Consumer Products and Sustainable Energy Solutions businesses. Worthington Steel will be the company’s Steel Processing business. The separation is expected to occur as early as December 2023, ahead of the originally projected timing of early 2024.

October 4, 2023: Worthington Industries, Inc. (WOR) announced the public filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission in connection with its planned separation of the Company’s Steel Processing business, Worthington Steel.

October 11, 2023: Worthington Enterprises Investor Day 

Worthington Steel Investor Presentation

Worthington Enterprises Investor Presentation

November 9, 2023: Worthington Industries, Inc. announced that its Board of Directors  approved the previously announced separation of its Steel Processing business, Worthington Steel, Inc.  via a spin-off.

The Board declared a pro rata distribution of 100% of the outstanding common shares of Worthington Steel to Worthington Industries shareholders of record as of the close of business on November 21, 2023 (the “Record Date”). 

The distribution is expected to be payable prior to market open on December 1, 2023 (“Distribution Date”). 

As a result of the distribution, Worthington Industries shareholders will receive one common share of Worthington Steel for every one common share of Worthington Industries they hold on the Record Date.

Record Date November 21, 2023

Distribution Date December 1, 2023

December 1, 2023:

Worthington Enterprises, Inc. (WOR) formerly Worthington Industries, Inc., a leading industrial manufacturing company, completed the previously announced separation of its Steel Processing business, Worthington Steel, Inc., into a standalone, publicly traded company. 
Worthington Steel common stock begins “regular-way” trading on the New York Stock Exchange (NYSE) today under the ticker symbol “WS”. Worthington Enterprises common stock continues trading on the NYSE under the ticker symbol “WOR”.

Worthington Enterprises, Inc. (WOR) formerly Worthington Industries, Inc., a leading industrial manufacturing company, completed the previously announced separation of its Steel Processing business, Worthington Steel, Inc., into a standalone, publicly traded company. 

Worthington Steel common stock begins “regular-way” trading on the New York Stock Exchange (NYSE) today under the ticker symbol “WS”. Worthington Enterprises common stock continues trading on the NYSE under the ticker symbol “WOR”.

Worthington Enterprises, Inc. (WOR) formerly Worthington Industries, Inc. Investor Relations

Mural OncologyMURA11/02/202211/16/20234.004.7418.50%246,035Alkermes plcALKS23.7129.5724.72%1,825,837Spinoff
Alkermes plc , spinoff details:

Alkermes plc (ALKS) announced approval by its Board of Directors to explore separating its commercial-stage neuroscience business and development-stage oncology business.

Update(s):

October 17, 2023: Mural Oncology Investor Call - View Presentation

November 15, 2023:

Alkermes plc (ALKS) announced that it has completed the separation of its oncology business into Mural Oncology plc, a new, independent, publicly traded company. 
Alkermes is now a pure-play, profitable neuroscience company that will continue its work to develop innovative medicines for people living with difficult-to-treat psychiatric and neurological disorders.  Mural Oncology will begin "regular way" trading on the Nasdaq Global Market under the stock ticker symbol "MURA" on Nov. 16, 2023. Alkermes will continue to trade under the Nasdaq ticker symbol "ALKS."
Upon completion of the separation, each of Alkermes' shareholders received a distribution of one ordinary share of Mural Oncology for every 10 ordinary shares of Alkermes held as of the close of business on November 6, 2023, the record date for the distribution.

Alkermes plc (ALKS) announced that it has completed the separation of its oncology business into Mural Oncology plc, a new, independent, publicly traded company. 

Alkermes is now a pure-play, profitable neuroscience company that will continue its work to develop innovative medicines for people living with difficult-to-treat psychiatric and neurological disorders.  Mural Oncology will begin "regular way" trading on the Nasdaq Global Market under the stock ticker symbol "MURA" on Nov. 16, 2023. Alkermes will continue to trade under the Nasdaq ticker symbol "ALKS."

Upon completion of the separation, each of Alkermes' shareholders received a distribution of one ordinary share of Mural Oncology for every 10 ordinary shares of Alkermes held as of the close of business on November 6, 2023, the record date for the distribution.

Mural Oncology Form 10

Alkermes plc Investor Relations

Net Lease Office PropertiesNLOP09/21/202311/02/202310.4726.38151.96%58,707W. P. Carey Inc.WPC55.3955.981.07%1,329,891Spinoff
W. P. Carey Inc., spinoff details:

 

W. P. Carey Inc. (WPC) announced that its Board of Directors has unanimously approved a plan to exit the office assets within its portfolio by 
(i) spinning-off 59 office properties into Net Lease Office Properties ("NLOP"), so that it will become a separate publicly-traded REIT and 
(ii) implementing an asset sale program to dispose of 87 office properties retained by W. P. Carey. The Spin-Off is expected to close on or around November 1, 2023 and all sales under the Office Sale Program are targeted to be completed by January 2024.

W. P. Carey Inc. (WPC) announced that its Board of Directors has unanimously approved a plan to exit the office assets within its portfolio by 
(i) spinning-off 59 office properties into Net Lease Office Properties ("NLOP"), so that it will become a separate publicly-traded REIT and 
(ii) implementing an asset sale program to dispose of 87 office properties retained by W. P. Carey.

The Spin-Off is expected to close on or around November 1, 2023 and all sales under the Office Sale Program are targeted to be completed by January 2024.

Update(s):

November 1, 2023: W. P. Carey announced that it has completed the previously announced spin-off of 59 office properties into Net Lease Office Properties, a separate, publicly-traded real estate investment trust that will be listed on the New York Stock Exchange under the symbol "NLOP."

Under the terms of the Spin-Off, W. P. Carey stockholders received one NLOP common share for every 15 shares of W. P. Carey common stock held as of the record date of October 19, 2023. W. P. Carey stockholders will receive cash in lieu of any fractional shares they would otherwise have been entitled to receive in the distribution.

Since October 27, 2023, NLOP common shares have traded on a "when-issued" basis on the NYSE under the symbol "NLOP WI." The "when-issued" trading of NLOP ended at the close of market on November 1, 2023. On November 2, 2023, the "regular way" trading of NLOP common shares will begin on the NYSE under the symbol "NLOP." Shares of W. P. Carey will continue to trade under the symbol "WPC."

Press Release

September 2023: Investor Presentation

W. P. Carey Inc. (WPC) Strategic Plan to Exit Office Call (Transcript)

Prospectus

W. P. Carey Inc. Investor Relations

NCR Atleos CorporationNATL09/15/202210/16/202320.9421.070.62%316,149NCR Voyix Corporation (formerly NCR Corporation)VYX16.6115.04-9.45%1,554,993Spinoff
NCR Voyix Corporation (formerly NCR Corporation), spinoff details:

NCR Corporation (NCR), a leading enterprise technology provider to banks, retailers and restaurants, announced its Board of Directors has unanimously approved a plan to separate NCR into two independent, publicly traded companies

– one focused on digital commerce,

- ATM business

The separation is intended to be structured in a tax-free manner and is targeted for the end of 2023.

July 24, 2023; NCR Corp. has announced the names of the two separate, publicly traded companies that will emerge following their anticipated division in the fourth quarter of 2023: NCR Voyix and NCR Atleos.

September 22, 2023:

NCR Corporation (NCR) announced that its Board of Directors has approved the timing and additional details regarding its previously announced separation of the company’s ATM-focused businesses, including its Self-Service Banking, Payments & Network and Telecommunications and Technology businesses, through a distribution of all of the common stock of NCR Atleos Corporation held by the company to Company common stockholders. 
Atleos is currently named NCR Atleos, LLC and will convert to a Maryland corporation and change its name to NCR Atleos Corporation prior to the distribution.
In the distribution, each holder of Company common stock will receive one share of Atleos common stock for every two shares of Company common stock held as of the close of business on October 2, 2023, the record date for the distribution. The distribution is expected to occur after the close of business on October 16, 2023.

NCR Corporation (NCR) announced that its Board of Directors has approved the timing and additional details regarding its previously announced separation of the company’s ATM-focused businesses, including its Self-Service Banking, Payments & Network and Telecommunications and Technology businesses, through a distribution of all of the common stock of NCR Atleos Corporation held by the company to company common stockholders. 

Atleos is currently named NCR Atleos, LLC and will convert to a Maryland corporation and change its name to NCR Atleos Corporation prior to the distribution.

In the distribution, each holder of company common stock will receive one share of Atleos common stock for every two shares of Company common stock held as of the close of business on October 2, 2023, the record date for the distribution. The distribution is expected to occur after the close of business on October 16, 2023.

Record Date - October 2, 2023

Distribution Date - October 16, 2023

NCR Atleos expects to begin “regular-way” trading on the NYSE on October 17, 2023 under the ticker NATL

NCR Corporation ticker symbol to change to VYX after separation

October 11, 2023: NCR Atleos and NCR Voyix completes separation on October 16, 2023 and will trade under stock symbols, (NATL) for Atleos and (VYX) for Voyix.

October 16, 2023: NCR Corporation (NCR) announced a change of its name to NCR Voyix Corporation. The separation is expected to be completed on October 16, 2023.

The name change became effective on October 13, 2023. The company’s stock will begin trading on the New York Stock Exchange under the new ticker symbol “VYX” on October 17, 2023.

October 16, 2023: NCR Atleos Corporation (NATL) announced the completion of its separation from NCR Corporation, which is now known as NCR Voyix Corporation (“Voyix”), and Atleos’ launch as an independent public company. 

Atleos common stock will begin trading “regular way” on the New York Stock Exchange under the ticker symbol “NATL” at market open on October 17, 2023. As a result of the spin-off, Atleos’ focus will be on banking services and ATMs, including Self-Service Banking, Payments & Network and Telecommunications and Technology businesses.

NCR Corporation Investor Relations

Lithium Americas (Argentina) CorpLAAC11/03/202210/04/20236.014.05-32.61%1,425,549Lithium Americas Corp.LAC11.724.3-63.31%1,896,096Spinoff
Lithium Americas Corp. , spinoff details:

 

Lithium Americas Corp. (LAC) announces that, it intends to advance a reorganization that will result in the separation of its North American and Argentine business units into two independent public companies. 
The Separation will establish two separate companies that include:
An Argentina focused lithium company owning Lithium Americas’ current interest in its Argentine lithium assets, including the near-production Caucharí-Olaroz lithium brine project in Jujuy, Argentina; and
A North America focused lithium company (“Lithium Americas (NewCo)”) owning the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”) and the Company’s North American investments.

Lithium Americas Corp. (LAC) announces that, it intends to advance a reorganization that will result in the separation of its North American and Argentine business units into two independent public companies. The Separation will establish two separate companies that include:

An Argentina focused lithium company owning Lithium Americas’ current interest in its Argentine lithium assets, including the near-production Caucharí-Olaroz lithium brine project in Jujuy, Argentina; and

A North America focused lithium company (“Lithium Americas (NewCo)”) owning the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”) and the Company’s North American investments.

The execution plan currently provides for completion of the Separation by the end of 2023.

May 15, 2023: Lithium Americas(LAC) announce that its Board of Directors has approved separation of its North American and Argentine business units into two independent public companies

Lithium Americas (NewCo) will own the 100%-owned Thacker Pass lithium project in Humboldt County, Nevada, as well as the company’s investments in Green Technology Metals Limited (ASX:GT1) and Ascend Elements, Inc.

Investor Presentation

June 26, 2023: The Separation will establish the company as Lithium Americas (Argentina) Corp, as well as a new company to be named Lithium Americas Corp. 

Lithium Argentina will retain the company’s Argentina portfolio 

Lithium Americas (NewCo) will become a leading North American-focused lithium company advancing the 100%-owned Thacker Pass project through construction to production to support the development of the North American lithium supply chain.

The Separation is targeted to become effective by October 15, 2023, but in any event no later than December 31, 2023.

July 31, 2023: Lithium Americas(LAC:CA) announced that shareholders have voted in favor of the separation of the company into Lithium Americas (Argentina) Corp. (“Lithium Argentina”) and a new Lithium Americas Corp. (“Lithium Americas (NewCo)”) at the company’s annual general and special meeting of shareholders held. The Separation is expected to become effective in early October 2023.

September 28, 2023: Lithium Americas Corp. (LAC) announced that the separation of the company into Lithium Argentina and Lithium Americas (NewCo) is expected to be completed on Tuesday, October 3, 2023.

OCtober 2,2023: “when-issued” public trading markets for Lithium Argentina Shares under the ticker symbol “LAAC WI” and Lithium Americas (NewCo) Shares under the ticker symbol “LAC WI

Lithium Americas (LAC) also anticipates that “regular-way” trading of Lithium Argentina Shares under the ticker symbol “LAAC” and Lithium Americas (NewCo) Shares under the ticker symbol “LAC” will begin on the NYSE and TSX at the start of trading on Wednesday, October 4, 2023.

Under the terms of the Separation, holders of Lithium Americas common shares (“Lithium Americas Shares”) will be entitled to receive one Lithium Argentina common share (each, a “Lithium Argentina Share”) and one Lithium Americas (NewCo) common share (each, a “Lithium Americas (NewCo) Share”) for every Lithium Americas Share held immediately before the effective time October 3, 2023

October 3, 2023; Lithium Americas Corp., now Lithium Americas (Argentina) Corp. (LAAC) and a new Lithium Americas Corp. (“Lithium Americas (NewCo)”)(LAC) jointly announced the completion of the reorganization of Lithium Americas into two independent publicly traded companies.

 

Separation Details

Note: Premium members can sort this table Spinoff Name, Announced Date and Parent Symbol.

 Spinoff NameAnnounced DateParent Symbol
Nextracker10/25/2023FLEX
Flex Ltd., spinoff details:

 

Nextracker (NXT), one of the leading providers of intelligent solar tracker and software solutions, announced Flex Ltd.’s (FLEX) plan to effect a spin-off of all of its remaining interests in Nextracker Inc. to Flex shareholders which would result in a separation by Flex from its ownership in Nextracker.
The separation from Flex is currently expected to close in fiscal Q4 ending March 31, 2024.
David A. Rubin - Vice President-Investor Relations, Flex Ltd.
https://www.sec.gov/Archives/edgar/data/866374/000119312523264151/d565372d425.htm
Earlier today, we were pleased to announce our plan to spin-off all of Flex’s remaining interest in Nextracker to Flex shareholders. As previously disclosed, Flex retained the option to affect the spin-off pursuant to a merger agreement entered into by Flex and Nextracker in connection with Nextracker’s initial public offering. We believe that the spin-off is the most advantageous form of separation for Flex, Nextracker, and our respective shareholders. Specifically, it provides the opportunity to distribute Flex’s interest in Nextracker to Flex shareholders in a tax-free manner for US federal income tax purposes and allows Flex to focus on our core strategies and long-term value creation for our shareholders.

Nextracker (NXT), one of the leading providers of intelligent solar tracker and software solutions, announced Flex Ltd.’s (FLEX) plan to effect a spin-off of all of its remaining interests in Nextracker Inc. to Flex shareholders which would result in a separation by Flex from its ownership in Nextracker.

The separation from Flex is currently expected to close in fiscal Q4 ending March 31, 2024.

David A. Rubin - Vice President-Investor Relations, Flex Ltd.

Earlier today, we were pleased to announce our plan to spin-off all of Flex’s remaining interest in Nextracker to Flex shareholders. As previously disclosed, Flex retained the option to affect the spin-off pursuant to a merger agreement entered into by Flex and Nextracker in connection with Nextracker’s initial public offering. We believe that the spin-off is the most advantageous form of separation for Flex, Nextracker, and our respective shareholders. Specifically, it provides the opportunity to distribute Flex’s interest in Nextracker to Flex shareholders in a tax-free manner for US federal income tax purposes and allows Flex to focus on our core strategies and long-term value creation for our shareholders.

Update(s):

January 2, 2024: Flex (FLEX) announced the completion of the spin-off of all of its remaining interest in Nextracker to Flex shareholders on a pro rata basis. 

Under the previously disclosed terms of the transaction, Flex shareholders received approximately 0.17 shares of Nextracker Class A common stock for every Flex ordinary share held as of the record date of December 29, 2023, with 74,432,619 shares of Nextracker Class A common stock issued to Flex shareholders in the aggregate. Flex shareholders will receive cash in lieu of any fractional shares. 

As a result of the completion of the spin-off, Flex no longer directly or indirectly holds any shares of Nextracker common stock or any securities convertible into or exchangeable for shares of Nextracker common stock. 

Flex ordinary shares will continue to trade on Nasdaq under the ticker symbol "FLEX" and shares of Nextracker Class A common stock will continue to trade on Nasdaq under the ticker symbol "NXT".

Nextracker Investor Relations

Worthington Steel, Inc.09/29/2022WOR
Worthington Enterprises, Inc., spinoff details:

 Worthington Industries, Inc. (WOR), a leading industrial manufacturing company, announced that its Board of Directors unanimously approved a plan to pursue a separation of the company’s Steel Processing business into a new public company. 

September 29, 2022: Company Separation Presentation

Update(s):

August 4, 2023: Worthington 2024: Worthington Enterprises Overview - Investor Presentation

Worthington 2024: Worthington Steel Overview Investor Presentation

September 26, 2023: Worthington Enterprises announced it will include the company’s Building Products, Consumer Products and Sustainable Energy Solutions businesses. Worthington Steel will be the company’s Steel Processing business. The separation is expected to occur as early as December 2023, ahead of the originally projected timing of early 2024.

October 4, 2023: Worthington Industries, Inc. (WOR) announced the public filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission in connection with its planned separation of the Company’s Steel Processing business, Worthington Steel.

October 11, 2023: Worthington Enterprises Investor Day 

Worthington Steel Investor Presentation

Worthington Enterprises Investor Presentation

November 9, 2023: Worthington Industries, Inc. announced that its Board of Directors  approved the previously announced separation of its Steel Processing business, Worthington Steel, Inc.  via a spin-off.

The Board declared a pro rata distribution of 100% of the outstanding common shares of Worthington Steel to Worthington Industries shareholders of record as of the close of business on November 21, 2023 (the “Record Date”). 

The distribution is expected to be payable prior to market open on December 1, 2023 (“Distribution Date”). 

As a result of the distribution, Worthington Industries shareholders will receive one common share of Worthington Steel for every one common share of Worthington Industries they hold on the Record Date.

Record Date November 21, 2023

Distribution Date December 1, 2023

December 1, 2023:

Worthington Enterprises, Inc. (WOR) formerly Worthington Industries, Inc., a leading industrial manufacturing company, completed the previously announced separation of its Steel Processing business, Worthington Steel, Inc., into a standalone, publicly traded company. 
Worthington Steel common stock begins “regular-way” trading on the New York Stock Exchange (NYSE) today under the ticker symbol “WS”. Worthington Enterprises common stock continues trading on the NYSE under the ticker symbol “WOR”.

Worthington Enterprises, Inc. (WOR) formerly Worthington Industries, Inc., a leading industrial manufacturing company, completed the previously announced separation of its Steel Processing business, Worthington Steel, Inc., into a standalone, publicly traded company. 

Worthington Steel common stock begins “regular-way” trading on the New York Stock Exchange (NYSE) today under the ticker symbol “WS”. Worthington Enterprises common stock continues trading on the NYSE under the ticker symbol “WOR”.

Worthington Enterprises, Inc. (WOR) formerly Worthington Industries, Inc. Investor Relations

Mural Oncology11/02/2022ALKS
Alkermes plc , spinoff details:

Alkermes plc (ALKS) announced approval by its Board of Directors to explore separating its commercial-stage neuroscience business and development-stage oncology business.

Update(s):

October 17, 2023: Mural Oncology Investor Call - View Presentation

November 15, 2023:

Alkermes plc (ALKS) announced that it has completed the separation of its oncology business into Mural Oncology plc, a new, independent, publicly traded company. 
Alkermes is now a pure-play, profitable neuroscience company that will continue its work to develop innovative medicines for people living with difficult-to-treat psychiatric and neurological disorders.  Mural Oncology will begin "regular way" trading on the Nasdaq Global Market under the stock ticker symbol "MURA" on Nov. 16, 2023. Alkermes will continue to trade under the Nasdaq ticker symbol "ALKS."
Upon completion of the separation, each of Alkermes' shareholders received a distribution of one ordinary share of Mural Oncology for every 10 ordinary shares of Alkermes held as of the close of business on November 6, 2023, the record date for the distribution.

Alkermes plc (ALKS) announced that it has completed the separation of its oncology business into Mural Oncology plc, a new, independent, publicly traded company. 

Alkermes is now a pure-play, profitable neuroscience company that will continue its work to develop innovative medicines for people living with difficult-to-treat psychiatric and neurological disorders.  Mural Oncology will begin "regular way" trading on the Nasdaq Global Market under the stock ticker symbol "MURA" on Nov. 16, 2023. Alkermes will continue to trade under the Nasdaq ticker symbol "ALKS."

Upon completion of the separation, each of Alkermes' shareholders received a distribution of one ordinary share of Mural Oncology for every 10 ordinary shares of Alkermes held as of the close of business on November 6, 2023, the record date for the distribution.

Mural Oncology Form 10

Alkermes plc Investor Relations

Net Lease Office Properties09/21/2023WPC
W. P. Carey Inc., spinoff details:

 

W. P. Carey Inc. (WPC) announced that its Board of Directors has unanimously approved a plan to exit the office assets within its portfolio by 
(i) spinning-off 59 office properties into Net Lease Office Properties ("NLOP"), so that it will become a separate publicly-traded REIT and 
(ii) implementing an asset sale program to dispose of 87 office properties retained by W. P. Carey. The Spin-Off is expected to close on or around November 1, 2023 and all sales under the Office Sale Program are targeted to be completed by January 2024.

W. P. Carey Inc. (WPC) announced that its Board of Directors has unanimously approved a plan to exit the office assets within its portfolio by 
(i) spinning-off 59 office properties into Net Lease Office Properties ("NLOP"), so that it will become a separate publicly-traded REIT and 
(ii) implementing an asset sale program to dispose of 87 office properties retained by W. P. Carey.

The Spin-Off is expected to close on or around November 1, 2023 and all sales under the Office Sale Program are targeted to be completed by January 2024.

Update(s):

November 1, 2023: W. P. Carey announced that it has completed the previously announced spin-off of 59 office properties into Net Lease Office Properties, a separate, publicly-traded real estate investment trust that will be listed on the New York Stock Exchange under the symbol "NLOP."

Under the terms of the Spin-Off, W. P. Carey stockholders received one NLOP common share for every 15 shares of W. P. Carey common stock held as of the record date of October 19, 2023. W. P. Carey stockholders will receive cash in lieu of any fractional shares they would otherwise have been entitled to receive in the distribution.

Since October 27, 2023, NLOP common shares have traded on a "when-issued" basis on the NYSE under the symbol "NLOP WI." The "when-issued" trading of NLOP ended at the close of market on November 1, 2023. On November 2, 2023, the "regular way" trading of NLOP common shares will begin on the NYSE under the symbol "NLOP." Shares of W. P. Carey will continue to trade under the symbol "WPC."

Press Release

September 2023: Investor Presentation

W. P. Carey Inc. (WPC) Strategic Plan to Exit Office Call (Transcript)

Prospectus

W. P. Carey Inc. Investor Relations

NCR Atleos Corporation09/15/2022VYX
NCR Voyix Corporation (formerly NCR Corporation), spinoff details:

NCR Corporation (NCR), a leading enterprise technology provider to banks, retailers and restaurants, announced its Board of Directors has unanimously approved a plan to separate NCR into two independent, publicly traded companies

– one focused on digital commerce,

- ATM business

The separation is intended to be structured in a tax-free manner and is targeted for the end of 2023.

July 24, 2023; NCR Corp. has announced the names of the two separate, publicly traded companies that will emerge following their anticipated division in the fourth quarter of 2023: NCR Voyix and NCR Atleos.

September 22, 2023:

NCR Corporation (NCR) announced that its Board of Directors has approved the timing and additional details regarding its previously announced separation of the company’s ATM-focused businesses, including its Self-Service Banking, Payments & Network and Telecommunications and Technology businesses, through a distribution of all of the common stock of NCR Atleos Corporation held by the company to Company common stockholders. 
Atleos is currently named NCR Atleos, LLC and will convert to a Maryland corporation and change its name to NCR Atleos Corporation prior to the distribution.
In the distribution, each holder of Company common stock will receive one share of Atleos common stock for every two shares of Company common stock held as of the close of business on October 2, 2023, the record date for the distribution. The distribution is expected to occur after the close of business on October 16, 2023.

NCR Corporation (NCR) announced that its Board of Directors has approved the timing and additional details regarding its previously announced separation of the company’s ATM-focused businesses, including its Self-Service Banking, Payments & Network and Telecommunications and Technology businesses, through a distribution of all of the common stock of NCR Atleos Corporation held by the company to company common stockholders. 

Atleos is currently named NCR Atleos, LLC and will convert to a Maryland corporation and change its name to NCR Atleos Corporation prior to the distribution.

In the distribution, each holder of company common stock will receive one share of Atleos common stock for every two shares of Company common stock held as of the close of business on October 2, 2023, the record date for the distribution. The distribution is expected to occur after the close of business on October 16, 2023.

Record Date - October 2, 2023

Distribution Date - October 16, 2023

NCR Atleos expects to begin “regular-way” trading on the NYSE on October 17, 2023 under the ticker NATL

NCR Corporation ticker symbol to change to VYX after separation

October 11, 2023: NCR Atleos and NCR Voyix completes separation on October 16, 2023 and will trade under stock symbols, (NATL) for Atleos and (VYX) for Voyix.

October 16, 2023: NCR Corporation (NCR) announced a change of its name to NCR Voyix Corporation. The separation is expected to be completed on October 16, 2023.

The name change became effective on October 13, 2023. The company’s stock will begin trading on the New York Stock Exchange under the new ticker symbol “VYX” on October 17, 2023.

October 16, 2023: NCR Atleos Corporation (NATL) announced the completion of its separation from NCR Corporation, which is now known as NCR Voyix Corporation (“Voyix”), and Atleos’ launch as an independent public company. 

Atleos common stock will begin trading “regular way” on the New York Stock Exchange under the ticker symbol “NATL” at market open on October 17, 2023. As a result of the spin-off, Atleos’ focus will be on banking services and ATMs, including Self-Service Banking, Payments & Network and Telecommunications and Technology businesses.

NCR Corporation Investor Relations

Lithium Americas (Argentina) Corp11/03/2022LAC
Lithium Americas Corp. , spinoff details:

 

Lithium Americas Corp. (LAC) announces that, it intends to advance a reorganization that will result in the separation of its North American and Argentine business units into two independent public companies. 
The Separation will establish two separate companies that include:
An Argentina focused lithium company owning Lithium Americas’ current interest in its Argentine lithium assets, including the near-production Caucharí-Olaroz lithium brine project in Jujuy, Argentina; and
A North America focused lithium company (“Lithium Americas (NewCo)”) owning the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”) and the Company’s North American investments.

Lithium Americas Corp. (LAC) announces that, it intends to advance a reorganization that will result in the separation of its North American and Argentine business units into two independent public companies. The Separation will establish two separate companies that include:

An Argentina focused lithium company owning Lithium Americas’ current interest in its Argentine lithium assets, including the near-production Caucharí-Olaroz lithium brine project in Jujuy, Argentina; and

A North America focused lithium company (“Lithium Americas (NewCo)”) owning the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”) and the Company’s North American investments.

The execution plan currently provides for completion of the Separation by the end of 2023.

May 15, 2023: Lithium Americas(LAC) announce that its Board of Directors has approved separation of its North American and Argentine business units into two independent public companies

Lithium Americas (NewCo) will own the 100%-owned Thacker Pass lithium project in Humboldt County, Nevada, as well as the company’s investments in Green Technology Metals Limited (ASX:GT1) and Ascend Elements, Inc.

Investor Presentation

June 26, 2023: The Separation will establish the company as Lithium Americas (Argentina) Corp, as well as a new company to be named Lithium Americas Corp. 

Lithium Argentina will retain the company’s Argentina portfolio 

Lithium Americas (NewCo) will become a leading North American-focused lithium company advancing the 100%-owned Thacker Pass project through construction to production to support the development of the North American lithium supply chain.

The Separation is targeted to become effective by October 15, 2023, but in any event no later than December 31, 2023.

July 31, 2023: Lithium Americas(LAC:CA) announced that shareholders have voted in favor of the separation of the company into Lithium Americas (Argentina) Corp. (“Lithium Argentina”) and a new Lithium Americas Corp. (“Lithium Americas (NewCo)”) at the company’s annual general and special meeting of shareholders held. The Separation is expected to become effective in early October 2023.

September 28, 2023: Lithium Americas Corp. (LAC) announced that the separation of the company into Lithium Argentina and Lithium Americas (NewCo) is expected to be completed on Tuesday, October 3, 2023.

OCtober 2,2023: “when-issued” public trading markets for Lithium Argentina Shares under the ticker symbol “LAAC WI” and Lithium Americas (NewCo) Shares under the ticker symbol “LAC WI

Lithium Americas (LAC) also anticipates that “regular-way” trading of Lithium Argentina Shares under the ticker symbol “LAAC” and Lithium Americas (NewCo) Shares under the ticker symbol “LAC” will begin on the NYSE and TSX at the start of trading on Wednesday, October 4, 2023.

Under the terms of the Separation, holders of Lithium Americas common shares (“Lithium Americas Shares”) will be entitled to receive one Lithium Argentina common share (each, a “Lithium Argentina Share”) and one Lithium Americas (NewCo) common share (each, a “Lithium Americas (NewCo) Share”) for every Lithium Americas Share held immediately before the effective time October 3, 2023

October 3, 2023; Lithium Americas Corp., now Lithium Americas (Argentina) Corp. (LAAC) and a new Lithium Americas Corp. (“Lithium Americas (NewCo)”)(LAC) jointly announced the completion of the reorganization of Lithium Americas into two independent publicly traded companies.

 

Separation Details

Premium member can access all Completed Spinoffs. Subscribe today.