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
Perspecta PRSP 10/11/2017 06/01/2018 24.55 21.44 -12.67% 739,291 DXC Technology Company DXC 83.40 80.15 -3.90% 608,986 Reverse Morris Trust
DXC Technology Company, spinoff details:

October 11, 2017: DXC Technology (DXC) announced that its board of directors has unanimously approved a plan to combine its U.S. Public Sector (USPS) business with Vencore Holding Corporation and KeyPoint Government Solutions to form a separate, independent publicly traded company to serve U.S. public sector clients. The formation of the new company is expected to be completed by the end of March 2018, subject to regulatory and other approvals.

March 8, 2018: Perspecta will be the name of the new company formed by the proposed merger of the U.S. Public Sector Business of DXC Technology (DXC) with Vencore Holding Corporation and KeyPoint Government Solutions when the transaction closes. Today’s announcement revealed the company name and logo. The full launch of the new brand will take place with the debut of the new company, which is expected in May 2018.

May 7, 2018: DXC Technology (DXC) announced that its Board of Directors has set a record date of May 25, 2018 for the previously announced spin-off of its U.S. public sector business into a new, publicly traded company named Perspecta (PRSP).

June 1, 2018: Perspecta (PRSP) announced that it has completed its separation from DXC Technology Company (DXC) and is now an independent public company, commencing trading today on the New York Stock Exchange under the ticker symbol "PRSP."

CorePoint Lodging CPLG 07/26/2017 05/31/2018 27.89 26.65 -4.45% 1,187,066 La Quinta Holdings Inc. LQ 21.62 21.62 0.00% 3,782,301 Spinoff
La Quinta Holdings Inc., spinoff details:

July 26, 2017: La Quinta Holdings (LQ) announced that a Form 10 Registration Statement was filed today with the U.S. Securities and Exchange Commission with respect to the previously announced planned separation of its real estate business, which is to be named CorePoint Lodging Inc. from its franchise and management businesses (“new La Quinta” or “post-spin La Quinta”) creating two distinct, publicly traded companies.

January 18, 2018: La Quinta (LQ) announced that Wyndham Worldwide Corporation (WYN) and La Quinta have entered into a definitive agreement under which Wyndham Worldwide will acquire La Quinta’s hotel franchise and hotel management businesses for $1.95 billion in cash. Immediately prior to the sale of La Quinta to Wyndham Worldwide, La Quinta will spin-off its owned real estate assets into CorePoint. The acquisition is subject to the completion of the spin-off of the Company, approval by La Quinta stockholders, regulatory approvals and the satisfaction of other customary closing conditions, and is expected to close in the second quarter of 2018.

April 26, 2018: At a special meeting, stockholders of La Quinta Holdings (LQ) approved the adoption of the Agreement and Plan of Merger, by and among Wyndham Worldwide Corporation (WYN) and La Quinta. The Merger Consideration is in addition to the shares of CorePoint Lodging that their stockholders will receive in the spin-off of CorePoint Lodging Inc.

May 8, 2018: La Quinta Holdings (LQ) announced that its Board of Directors has formally approved the distribution to its stockholders of all of the outstanding shares of common stock of CorePoint Lodging, which will become the holder of the owned real estate assets previously held by La Quinta. Subject to the satisfaction or waiver of certain conditions, the completion of the CorePoint Lodging spin-off, followed by the completion of the La Quinta Merger, is expected to be completed on May 30, 2018.

May 31, 2018: CorePoint Lodging (CPLG) announced the completion of its spin-off from La Quinta Holdings (LQ) into a stand-alone public company that holds a geographically diverse portfolio of 316 hotels that were previously owned by La Quinta.

Spirit MTA REIT SMTA 08/03/2017 05/31/2018 9.90 10.42 5.25% 4,741,976 Spirit Realty Capital, Inc. SRC 7.73 8.23 6.47% 1,099,713 Spinoff
Spirit Realty Capital, Inc., spinoff details:

August 3, 2017: Spirit Realty Capital (SRC) announced the planned spin-off of a separate publicly traded REIT ("SpinCo"). Spirit intends to spin-off substantially all of its properties leased to Shopko and its assets that collateralize Master Trust 2014 (part of Spirit's asset-backed securitization program into a separate, publicly traded REIT. Upon completion of the planned spin-off, Spirit stockholders will receive a stock distribution. SpinCo intends to elect to be treated as a REIT for U.S. federal income tax purposes. The spin-off is expected to close by the end of the first half of 2018. SpinCo expects to file a Form 10 registration statement with the Securities and Exchange Commission by the end of the fourth quarter of 2017.

March 6, 2018: Spirit Realty Capital (SRC) announced that its subsidiary, Spirit MTA REIT ("SMTA"), has publicly filed with the U.S. Securities and Exchange Commission a registration statement on Form 10 in connection with the previously announced spin-off of certain assets of the Company into SMTA and the subsequent distribution of SMTA's common shares of beneficial interest to the Company's common stockholders. The spin-off is currently anticipated to be completed in the first half of 2018.

April 13, 2018: Spirit Realty Capital (SRC) announced that its subsidiary, Spirit MTA REIT, has publicly filed with the U.S. Securities and Exchange Commission an amended registration statement on Form 10 in connection with the previously announced spin-off of certain assets of the Company into SMTA and the subsequent distribution of SMTA's common shares of beneficial interest to the Company's common stockholders. The spin-off is currently anticipated to be completed in the first half of 2018.

May 1, 2018: Spirit Realty Capital (SRC) announced that its Board of Directors has formally declared the distribution of common stock of Spirit MTA REIT (“SMTA”) in connection with the spin-off of SMTA from Spirit Realty Capital. Following the distribution, SMTA will be an independent, publicly-traded real estate investment trust that owns the assets that collateralize Master Trust 2014, substantially all the properties leased to Shopko Retail Shops Holding Corp. and certain of its affiliates, as well as certain other assets.
The distribution will be made on or about May 31, 2018 to Spirit stockholders of record as of 5:00 PM Eastern Time on May 18, 2018.

May 4, 2018: Spirit Realty Capital (SRC) announced that its subsidiary, Spirit MTA REIT , has publicly filed with the U.S. Securities and Exchange Commission a second amendment to its registration statement on Form 10 in connection with the previously announced spin-off of certain assets of the Company into SMTA and the subsequent distribution of SMTA's common shares of beneficial interest to the Company's common stockholders.

May 21, 2018: Spirit MTA REIT entered into a Separation and Distribution Agreement with Spirit Realty Capital (SRC) to effect the spin-off of the Company from SRC and provide a framework for the relationship between the Company and SRC after the spin-off.

May 31, 2018: Spirit Realty Capital (SRC) completed the previously announced spin-off of Spirit MTA REIT (SMTA) through the taxable pro rata distribution of all of the outstanding common shares of beneficial interest of the Company to SRC’s holders of record as of the close of business on May 18, 2018, the record date of the distribution. Each holder of SRC common stock received one common share of SMTA for every ten shares of SRC common stock held as of the record date.

EuroDry Ltd. EDRY 05/07/2018 05/31/2018 7.55 8.88 17.62% 45,460 Euroseas Ltd. ESEA 1.86 1.56 -16.13% 8,155 Carve Out
Euroseas Ltd., spinoff details:

May 7, 2018: Euroseas (ESEA) announced that it filed a registration statement on Form F-1 with the Securities and Exchange Commission to spin-off the Company’s drybulk fleet into a separate company, EuroDry Ltd., which has applied for listing on the NASDAQ Capital Market.

May 23, 2018: Euroseas (ESEA) announced that the registration statement on Form F-1 of EuroDry, its drybulk fleet spin-off, has been declared effective by the Securities and Exchange Commission. The Company also announced that the application of EuroDry for listing on the NASDAQ Capital Market under the symbol “EDRY” has been approved.

May 31, 2018: Euroseas (ESEA) announced that it has completed the spin-off of its drybulk fleet into EuroDry Ltd. Euroseas shareholders received one EuroDry Ltd share for every five shares of the Company they owned. Shares of EuroDry Ltd. will commence trading today, May 31, 2018 on the NASDAQ Capital Market under the symbol (EDRY).

Wyndham Hotels & Resorts, Inc. WH 08/02/2017 05/31/2018 59.50 63.38 6.52% 2,471,104 Wyndham Worldwide Corporation WYND 49.05 46.69 -4.81% 1,921,075 Spinoff
Wyndham Worldwide Corporation, spinoff details:

August 2, 2017: Wyndham Worldwide (WYN) announced plans to spin off the company’s hotel business resulting in two separate, publicly traded companies.  Wyndham Hotel Group, with headquarters in Parsippany, NJ, will become a new, publicly traded pure-play hotel company with a portfolio of renowned brands. The transaction, which is expected to be tax-free to Wyndham Worldwide and its shareholders, will be effected through a pro rata distribution of the new hotel company’s stock to existing Wyndham Worldwide shareholders.  Wyndham Worldwide expects the transaction to be completed in the first half of 2018.

March 19, 2018: Wyndham Worldwide Corporation (WYN) announced the filing of a Registration Statement on Form 10 with the Securities and Exchange Commission by Wyndham Hotels & Resorts, Inc. (Wyndham Hotels) in connection with Wyndham Worldwide’s planned spin-off of its hotel business.  Following the consummation of the spin-off, Wyndham Worldwide is expected to be known as Wyndham Destinations, Inc. The separation will not require a shareholder vote and is expected to be completed in the second quarter of 2018.

April 19, 2018: Wyndham Worldwide Corporation (WYN) reported the anticipated composition of the board of directors of Wyndham Hotels & Resorts, Inc. subject to completion of its previously disclosed spin-off transaction. As previously announced, the spin-off is expected to result in two separate, publicly traded companies. As a result of the spin-off, Wyndham Worldwide Corporation’s hotel group business will become a new publicly traded hotel franchising and management company, Wyndham Hotels & Resorts. Wyndham Worldwide Corporation will continue its vacation ownership business and destination network business and be renamed Wyndham Destinations, Inc. in connection with the spin-off. Wyndham Worldwide Corporation expects to complete the spin-off in the second quarter of 2018.

May 9, 2018: Wyndham Worldwide Corporation (WYN) announced that its Board of Directors has approved the previously announced spin-off of its wholly-owned subsidiary Wyndham Hotels & Resorts.  The distribution is expected to occur after the market close on May 31, 2018 to Wyndham Worldwide stockholders of record as of May 18, 2018.

May 14, 2018: Wyndham Worldwide’s (WYN) Board of Directors revised its dividend policy in connection with the spin-off to provide that Wyndham Worldwide will pay a quarterly cash dividend of $0.41 per share of Wyndham Worldwide common stock beginning in the second quarter of 2018.

May 15, 2018: Wyndham Hotels’ Board of Directors adopted a dividend policy pursuant to which Wyndham Hotels will pay a regular quarterly dividend on Wyndham Hotels common stock in the amount of $0.25 per share beginning in the second quarter of 2018.

May 31, 2018: Wyndham Worldwide Corporation (WYN) announced that its subsidiary, Wyndham Hotels & Resorts, has completed its previously announced acquisition of La Quinta Holdings’ hotel franchising and hotel management business. Wyndham Hotels & Resorts is the world’s largest hotel franchising company based on number of properties and will become an independent public company (WH-WI) when it is spun-off from Wyndham Worldwide after the market close on May 31.

Apergy Corporation APY 12/07/2017 05/09/2018 40.91 37.065 -9.40% 143,937 Dover Corporation DOV 76.89 72.76 -5.37% 246,960 Spinoff
Dover Corporation, spinoff details:

December 7, 2017: Dover (DOV) announced that it plans to spin off its upstream energy businesses within the Dover Energy segment, collectively, the “Wellsite” business, into a standalone, publicly-traded company, to be named at a later date.

March 26, 2018: Dover (DOV) announced that Apergy Corporation will host its first Investor Day on Tuesday, April 3, 2018, in New York City. Apergy has also filed its Form 10 registration statement with the U.S. Securities and Exchange Commission in connection with the previously announced spin-off from Dover. The filing is a key step in Dover`s plan to separate Apergy into a standalone public company, which is on track for completion in early May 2018.

April 17, 2018: Dover (DOV) announced that its board of directors formally approved the separation of Apergy Corporation from Dover through a distribution of all of the common stock of Apergy held by Dover to Dover shareholders. The distribution is expected to be made on May 9, 2018 to Dover stockholders of record as of April 30, 2018, the record date for the distribution.

May 9, 2018: Apergy Corporation (APY) announced that it has successfully completed its separation from Dover Corporation (DOV). Apergy is an independent public company and will begin “regular-way” trading on the New York Stock Exchange under the symbol “APY.”

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