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
Technip Energies TE.PA 01/07/2021 02/16/2021 12.70 12.09 -4.80% 1,326,883 TechnipFMC plc FTI 8.09 8.58 6.06% 6,863,083 Splitoff
TechnipFMC plc, spinoff details:

January 7, 2021: TechnipFMC (FTI) announced the resumption of activities toward its planned separation into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider; and Technip Energies, a leading engineering and technology player. The separation would enhance TechnipFMC’s and Technip Energies’ focus on their respective strategies and provide both improved flexibility and growth opportunities, with each company uniquely positioned to capitalize on the energy transition.

February 15, 2021: TechnipFMC (FTI) announced the completion of its spin-off transaction to create two industry leading, independent, publicly traded companies, TechnipFMC and Technip Energies.

Cognyte Software Ltd. CGNT 12/04/2019 02/02/2021 28.01 24.27 -13.35% 191,558 Verint Systems Inc. VRNT 51.99 46.67 -10.23% 2,310,954 Splitoff
Verint Systems Inc., spinoff details:

December 4, 2019: Verint® Systems (VRNT) announced that its Board of Directors has unanimously approved proceeding with a plan to separate Verint into two independent companies: one of which will consist of its customer engagement business, and one of which will consist of its cyber intelligence business. Verint expects to complete the separation shortly after the end of Verint’s next fiscal year ending January 31, 2021.

February 1, 2021: Verint® Systems (VRNT), the Customer Engagement Company™, announced that it has completed the spin-off of Cognyte Software Ltd. (CGNT).

Nutrition & Biosciences merged with International Flavors & Fragrances IFF 12/15/2019 02/01/2021 130.15 146.45 12.52% 729,982 DuPont de Nemours, Inc. DD 73.14 82.85 13.28% 2,543,937 Reverse Morris Trust
DuPont de Nemours, Inc., spinoff details:

December 15, 2019: IFF (IFF) and DuPont (DD) announced that they have entered into a definitive agreement for the merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business in a Reverse Morris Trust transaction.

December 31, 2020: DuPont (DD) announced the commencement of its exchange offer (split-off) whereby DuPont stockholders can elect to tender shares of DuPont common stock in exchange for shares of Nutrition & Biosciences, Inc. (“N&B”) common stock. The exchange offer is part of DuPont’s previously announced Reverse Morris Trust transaction with International Flavors & Fragrances (NYSE:IFF) (“IFF”).

February 1, 2021: DuPont (DD) announced it is completing the merger of IFF and Nutrition & Biosciences. In connection with the closing of the transaction with IFF, DuPont receives a special cash payment of about $7.3 billion, approximately $5 billion of which will be used to strengthen the balance sheet by retiring outstanding debt.

 

 

Qualtrics XM 07/26/2020 01/28/2021 45.5 35.61 -21.74% 1,140,695 SAP SE SAP 130.44 141.74 8.66% 681,451 Carve Out
SAP SE, spinoff details:

July 26, 2020: SAP SE (SAP) announced its intent to take Qualtrics public through an initial public offering (IPO) in the United States.

January 28, 2021: Qualtrics International raised $1.55 billion with an initial public offering that exceeded elevated expectations and priced above the high end of its estimated range Thursday. The Qualtrics IPO jumped by double digits as trading began.

January 29, 2021: Qualtrics International, the SAP (SAP) spinoff that went public Thursday, finished off the week with its stock trading at $44.00 and boasting a market valuation of $21.66 billion

Apartment Income REIT Corp. AIRC 09/22/2020 12/15/2020 37.95 44.34 16.84% 269,029 Apartment Investment and Management Company AIV 5.04 6.97 38.29% 1,328,584 Splitoff
Apartment Investment and Management Company, spinoff details:

September 22, 2020: Apartment Investment and Management Company (AIV) announced the closing of a California joint venture and its plan to separate its business through a spin-off, into two, separate and distinct, publicly traded companies, Apartment Income REIT and Aimco.

December 15, 2020: Apartment Investment and Management Company (AIV) announced that it has completed the separation of its businesses, creating two, separate and distinct, publicly traded companies, Apartment Income REIT Corp. (“AIR”) and Aimco.  Aimco’s common stock continues to trade on the NYSE under the symbol “AIV.”

Synaptogenix, Inc. SNPX 05/28/2020 12/08/2020 1.5 2 33.33% 17,092 Petros Pharmaceuticals, Inc. PTPI 3.27 3.34 2.14% 11,346 Reverse Morris Trust
Petros Pharmaceuticals, Inc., spinoff details:

May 28. 2020: Neurotrope (NTRP) has entered into a definitive merger agreement under which Metuchen Pharmaceuticals and Neurotrope will merge in an all-stock transaction resulting in a newly formed company focused on men's health conditions, which will be named Petros Pharmaceuticals, Inc. ("Petros"). Upon closing of the transaction, Bryostatin-1 and substantially all of Neurotrope's operating assets, operations and liabilities, except for cash retained by Petros in accordance with the terms of the merger agreement, will be spun-out into a new, separately traded company, which will be named Neurotrope Bioscience, Inc.

November 20, 2020: Neurotrope (NTRP) announced that its Board of Directors has approved the conditional distribution and set the shareholder of record and distribution dates in connection with the previously announced spin-off of its wholly-owned subsidiary, Neurotrope Bioscience ("NBI"). Neurotrope expects that NBI common stock will be quoted on the OTCQB market of the OTC Markets Group, Inc. under a symbol that is yet to be determined.

December 2, 2020: Neurotrope (NTRP) and Metuchen Pharmaceuticals announced the completion of their previously announced merger. Petros’ shares will commence trading on the Nasdaq Global Market on December 2, 2020, under the ticker symbol “PTPI”.

December 8, 2020: Synaptogenix (OTC: SNPX), formerly Neurotrope Bioscience, Inc., announced the successful spin-off of substantially all of the legacy assets and liabilities of Neurotrope, Inc. into the newly renamed company which is trading under the new symbol: SNPX.

  Spinoff Name Announced Date Parent Symbol
Technip Energies 01/07/2021 FTI
TechnipFMC plc, spinoff details:

January 7, 2021: TechnipFMC (FTI) announced the resumption of activities toward its planned separation into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider; and Technip Energies, a leading engineering and technology player. The separation would enhance TechnipFMC’s and Technip Energies’ focus on their respective strategies and provide both improved flexibility and growth opportunities, with each company uniquely positioned to capitalize on the energy transition.

February 15, 2021: TechnipFMC (FTI) announced the completion of its spin-off transaction to create two industry leading, independent, publicly traded companies, TechnipFMC and Technip Energies.

Cognyte Software Ltd. 12/04/2019 VRNT
Verint Systems Inc., spinoff details:

December 4, 2019: Verint® Systems (VRNT) announced that its Board of Directors has unanimously approved proceeding with a plan to separate Verint into two independent companies: one of which will consist of its customer engagement business, and one of which will consist of its cyber intelligence business. Verint expects to complete the separation shortly after the end of Verint’s next fiscal year ending January 31, 2021.

February 1, 2021: Verint® Systems (VRNT), the Customer Engagement Company™, announced that it has completed the spin-off of Cognyte Software Ltd. (CGNT).

Nutrition & Biosciences merged with International Flavors & Fragrances 12/15/2019 DD
DuPont de Nemours, Inc., spinoff details:

December 15, 2019: IFF (IFF) and DuPont (DD) announced that they have entered into a definitive agreement for the merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business in a Reverse Morris Trust transaction.

December 31, 2020: DuPont (DD) announced the commencement of its exchange offer (split-off) whereby DuPont stockholders can elect to tender shares of DuPont common stock in exchange for shares of Nutrition & Biosciences, Inc. (“N&B”) common stock. The exchange offer is part of DuPont’s previously announced Reverse Morris Trust transaction with International Flavors & Fragrances (NYSE:IFF) (“IFF”).

February 1, 2021: DuPont (DD) announced it is completing the merger of IFF and Nutrition & Biosciences. In connection with the closing of the transaction with IFF, DuPont receives a special cash payment of about $7.3 billion, approximately $5 billion of which will be used to strengthen the balance sheet by retiring outstanding debt.

 

 

Qualtrics 07/26/2020 SAP
SAP SE, spinoff details:

July 26, 2020: SAP SE (SAP) announced its intent to take Qualtrics public through an initial public offering (IPO) in the United States.

January 28, 2021: Qualtrics International raised $1.55 billion with an initial public offering that exceeded elevated expectations and priced above the high end of its estimated range Thursday. The Qualtrics IPO jumped by double digits as trading began.

January 29, 2021: Qualtrics International, the SAP (SAP) spinoff that went public Thursday, finished off the week with its stock trading at $44.00 and boasting a market valuation of $21.66 billion

Apartment Income REIT Corp. 09/22/2020 AIV
Apartment Investment and Management Company, spinoff details:

September 22, 2020: Apartment Investment and Management Company (AIV) announced the closing of a California joint venture and its plan to separate its business through a spin-off, into two, separate and distinct, publicly traded companies, Apartment Income REIT and Aimco.

December 15, 2020: Apartment Investment and Management Company (AIV) announced that it has completed the separation of its businesses, creating two, separate and distinct, publicly traded companies, Apartment Income REIT Corp. (“AIR”) and Aimco.  Aimco’s common stock continues to trade on the NYSE under the symbol “AIV.”

Synaptogenix, Inc. 05/28/2020 PTPI
Petros Pharmaceuticals, Inc., spinoff details:

May 28. 2020: Neurotrope (NTRP) has entered into a definitive merger agreement under which Metuchen Pharmaceuticals and Neurotrope will merge in an all-stock transaction resulting in a newly formed company focused on men's health conditions, which will be named Petros Pharmaceuticals, Inc. ("Petros"). Upon closing of the transaction, Bryostatin-1 and substantially all of Neurotrope's operating assets, operations and liabilities, except for cash retained by Petros in accordance with the terms of the merger agreement, will be spun-out into a new, separately traded company, which will be named Neurotrope Bioscience, Inc.

November 20, 2020: Neurotrope (NTRP) announced that its Board of Directors has approved the conditional distribution and set the shareholder of record and distribution dates in connection with the previously announced spin-off of its wholly-owned subsidiary, Neurotrope Bioscience ("NBI"). Neurotrope expects that NBI common stock will be quoted on the OTCQB market of the OTC Markets Group, Inc. under a symbol that is yet to be determined.

December 2, 2020: Neurotrope (NTRP) and Metuchen Pharmaceuticals announced the completion of their previously announced merger. Petros’ shares will commence trading on the Nasdaq Global Market on December 2, 2020, under the ticker symbol “PTPI”.

December 8, 2020: Synaptogenix (OTC: SNPX), formerly Neurotrope Bioscience, Inc., announced the successful spin-off of substantially all of the legacy assets and liabilities of Neurotrope, Inc. into the newly renamed company which is trading under the new symbol: SNPX.

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