Upcoming Spinoffs

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  Spinoff Name Announced Date Potential Spinoff Date Parent Name Parent Symbol Type
Upjohn 07/29/2019 2Q 2020 Pfizer Inc. PFE Reverse Morris Trust
Pfizer Inc., spinoff details:

July 29, 2019: Mylan (MYL) and Pfizer (PFE) announced a definitive agreement to combine Mylan with Upjohn, Pfizer’s off-patent branded and generic established medicines business, creating a new global pharmaceutical company. Under the terms of the agreement, which is structured as an all-stock, Reverse Morris Trust transaction, each Mylan share would be converted into one share of the new company. Pfizer shareholders would own 57% of the combined new company, and Mylan shareholders would own 43%.

Conifer business 07/24/2019 2Q 2021 Tenet Healthcare Corporation THC Spinoff
Tenet Healthcare Corporation, spinoff details:

July 24, 2019: Tenet Healthcare Corporation (THC) announced its intention to pursue a tax-free spin-off of its Conifer business as a separate, independent publicly traded company. The company expects to complete the spin-off by the end of the second quarter of 2021.

Food & Specialty Metal Packaging business 07/15/2019 Q4 2019 Ardagh Group S.A. ARD Reverse Morris Trust
Ardagh Group S.A., spinoff details:

July 15, 2019: Ardagh Group (ARD) announced that it has entered into an agreement to combine its Food & Specialty Metal Packaging business with the business of Exal Corporation to form Trivium Packaging.

Taronis Fuels, Inc. 07/15/2019 N/A Taronis Technologies, Inc. TRNX Spinoff
Taronis Technologies, Inc., spinoff details:

July 15, 2019: Taronis Technologies (TRNX) announced its intention to spin-off its wholly-owned subsidiary, Taronis Fuels, Inc.

Update(s)

On August 21, 2019, the Company was notified by the Nasdaq Capital Market that the Company needed to revised the record date for the Company’s proposed spin-off of Taronis Fuels, Inc. because Nasdaq is unable to process reverse stock splits while spin-offs are pending. Due to this last-minute request by Nasdaq, the Company has reset the record date for the spin-off of Taronis Fuels to November 5, 2019, which is the date Taronis Fuel’s Form 10 will go effective, assuming it is filed on September 6, 2019.

Management Services 06/17/2019 Q3 2020 AECOM ACM Carve Out
AECOM, spinoff details:

June 17, 2019: AECOM (ACM) announced that its Board of Directors has unanimously approved a plan to pursue a spin-off of the Company’s Management Services segment into a leading, standalone government services company. The transaction is currently expected to be completed in the second half of fiscal 2020.

TiVo’s Product business 05/09/2019 Q22020 TiVo Corporation TIVO Splitoff
TiVo Corporation, spinoff details:

May 9, 2019: TiVo Corporation (TIVO) reported that the Company’s Board has unanimously approved a plan to separate its Product and IP Licensing businesses.

The Pennant Group, Inc. 05/06/2019 12/31/2019 The Ensign Group, Inc. ENSG Spinoff
The Ensign Group, Inc., spinoff details:

May 6, 2019: The Ensign Group (ENSG) announced a plan to separate its home health and hospice agencies and substantially all of its senior living businesses into a separate publicly-traded company. Upon consummation of the spin-off, the two companies will include: The Ensign Group, Inc., which will include transitional and skilled services, rehabilitative care services, healthcare campuses, post-acute-related new business ventures and real estate investments; and The Pennant Group, Inc., which will include Ensign’s home health and hospice operations, substantially all of Ensign’s senior living operations, and Ensign’s mobile diagnostic and clinical laboratory operations. The spin-off is expected to be tax-free to Ensign’s shareholders, except for any cash paid in lieu of fractional shares. Pennant has applied to list its shares on the NASDAQ stock market under the ticker symbol “PNTG.”

September 9, 2019: The spin-off will be completed by way of a pro rata distribution of Pennant common stock to Ensign’s stockholders of record on September 20, 2019, the spin-off record date.

Ingersoll Rand Industrial 04/30/2019 Q1 2020 Ingersoll-Rand Plc IR Reverse Morris Trust
Ingersoll-Rand Plc, spinoff details:

April 30, 2019: Gardner Denver Holdings (GDI) and Ingersoll-Rand (IR) announced that they have entered into a definitive agreement pursuant to which Ingersoll Rand will separate its Industrial segment (“Ingersoll Rand Industrial”) by way of a spin-off to Ingersoll Rand’s shareholders and then combine it with Gardner Denver. The transaction will be effected through a “Reverse Morris Trust” transaction pursuant to which Ingersoll Rand Industrial is expected to be spun-off to Ingersoll Rand’s shareholders and simultaneously merged with and surviving as a wholly-owned subsidiary of Gardner Denver.

July 1, 2019: The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (“HSR Act”) for the proposed combination of the Industrial segment of Ingersoll-Rand (IR) with Gardner Denver Holding(GDI) has expired. Expiration of the HSR Act waiting period satisfies one of the conditions to closing of the transaction. The transaction, which is expected to close by early 2020, remains subject to other closing conditions, including approval by Gardner Denver stockholders, other regulatory approvals and customary closing conditions.

Lighting business unit 03/01/2019 Q42019 Eaton Corporation plc ETN Carve Out
Eaton Corporation plc, spinoff details:

March 1, 2019: Eaton Corp (ETN) said that it would spin-off its lighting business unit, which makes LED lighting and controls. The spin-off, which is aimed at creating an independent, publicly traded company, is expected to be completed by the end of 2019.

Old Navy 02/28/2019 2020 The Gap, Inc. GPS Carve Out
The Gap, Inc., spinoff details:

February 26, 2019: Gap Inc. (GPS) announced plans to create two independent publicly traded companies: Old Navy, a category-leader in family apparel, and a yet-to-be-named company (“NewCo”), which will consist of the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City. Gap Inc. expects to effect the separation through a spin-off that is intended to generally be tax-free to Gap Inc.’s shareholders for U.S. federal income tax purposes. The transaction is currently targeted to be completed in 2020.

Global Rolled Products 02/08/2019 N/A Arconic Inc. ARNC Splitoff
Arconic Inc., spinoff details:

February 8, 2019: Arconic (ARNC) announced that the portfolio of the company will be separated into Engineered Products & Forgings and Global Rolled Products, with a spin-off of one of the businesses. The Company will also consider the sale of businesses that do not best fit into Engineered Products & Forgings or Global Rolled Products.

Upstream Energy business 02/04/2019 H2 2020 Ecolab Inc. ECL Carve Out
Ecolab Inc., spinoff details:

February 4, 2019: Ecolab (ECL) announced that it plans to spin off its Upstream energy businesses as a standalone publicly-traded company. Ecolab currently expects that the transaction will be completed by mid-year 2020.

MYnd Analytics California 01/07/2019 N/A MYnd Analytics, Inc. MYND Spinoff
MYnd Analytics, Inc., spinoff details:

January 7, 2019: MYnd Analytics (MYND) intends to transfer all of its assets (including cash and its equity interest in Arcadian Telepsychiatry Services, LLC) and liabilities into its wholly-owned subsidiary, MYnd Analytics California, and to distribute the shares of MYnd Analytics California to MYnd Analytics’ shareholders as of a record date prior to the merger, which will be set prior to the merger effective time.

GE Digital business 12/13/2018 N/A General Electric Company GE Spinoff
General Electric Company, spinoff details:

December 13, 2018: General Electric (GE) announced plans to spin off its GE Digital business and establish an independent internet of things company, built around several GE Digital technologies.

Specialty Generics/Active Pharmaceutical Ingredients (Specialty Generics) business and AMITIZA® 12/06/2018 Q4 2019 Mallinckrodt plc MNK Carve Out
Mallinckrodt plc, spinoff details:

December 6, 2019: Mallinckrodt (MNK) announced plans to spin off a new company consisting of Mallinckrodt’s Specialty Generics/Active Pharmaceutical Ingredients (Specialty Generics) business and AMITIZA® (lubiprostone) to Mallinckrodt shareholders, subject to final Board approval.

Super Crypto Mining, Inc. 11/27/2018 N/A DPW Holdings, Inc. DPW Spinoff
DPW Holdings, Inc., spinoff details:

November 27, 2018: DPW Holdings (DPW) announced that its Board of Directors has authorized the officers of DPW to pursue a spinoff of DPW’s wholly-owned subsidiary Super Crypto Mining, Inc.

crude and product tanker business 11/27/2018 Q1 2019 Capital Product Partners L.P. CPLP Reverse Morris Trust
Capital Product Partners L.P., spinoff details:

November 27, 2018: Capital Product Partners (CPLP) and DSS Holdings have entered into a definitive transaction agreement pursuant to which CPLP has agreed to spin off its crude and product tanker business into a separate publicly listed company, which will merge with DSS’ businesses and operations in a share-for-share transaction. The new company, to be called Diamond S Shipping Inc.

March 8, 2019: Capital Product Partners (CPLP) announced that its Board of Directors has established March 19, 2019 as the record date for the previously announced spin-off of its crude and product tanker business into a separate publicly listed company, Diamond S Shipping (“DSSI”).

Otis Elevator Company 11/26/2018 Q12020 United Technologies Corporation UTX Spinoff
United Technologies Corporation, spinoff details:

November 26, 2018: United Technologies (UTX) announced the completion of its acquisition of Rockwell Collins (COL) and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies.

United Technologies 11/26/2018 Q12020 United Technologies Corporation UTX Spinoff
United Technologies Corporation, spinoff details:

November 26, 2018: United Technologies (UTX) announced the completion of its acquisition of Rockwell Collins (COL) and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies.

Carrier 11/26/2018 Q12020 United Technologies Corporation UTX Spinoff
United Technologies Corporation, spinoff details:

November 26, 2018: United Technologies (UTX) announced the completion of its acquisition of Rockwell Collins (COL) and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies.

Update(s)

September 16, 2019: Carrier appointed Tim McLevish as chief financial officer as it prepares to become a public company after completing its separation from United Technologies Corp (UTX).

Cerence 11/19/2018 Q4 2019 Nuance Communications, Inc. NUAN Carve Out
Nuance Communications, Inc., spinoff details:

November 19, 2018: Nuance Communications (NUAN) announced its intention to spin off its Automotive business segment into a new, independent, publicly traded company ("Nuance Auto"). The standalone entity will be a pure-play, next-generation automotive software company.  Immediately following the transaction, which is expected to be completed before the end of fiscal 2019, Nuance shareholders will own shares of both companies.

September 4, 2019: Nuance expects to distribute shares in the new company, Cerence to its sharedolders, following the end of their September 30, 2019 fiscal year. At that time, Cerence will be listed on the Nasdaq Global Select Market under the ticker symbol “CRNC,”.

September 9, 2019: The spinoff is expected to be completed on October 1, 2019.

BellRing Brands 11/15/2018 Q4 2019 Post Holdings, Inc. POST Carve Out
Post Holdings, Inc., spinoff details:

November 15, 2018: Post Holding (POST) announced it plans to pursue an initial public offering of shares of common stock of a company which will be comprised of its Active Nutrition business.

September 20, 2019: Post Holdings (POST) announced that its active nutrition business will be named BellRing Brands, Inc. following the completion of the previously announced proposed initial public offering of approximately 20% of its ownership. The IPO is expected to be completed in the fall of 2019, subject to market and other conditions. BellRing has applied for its Class A common stock to be listed on the New York Stock Exchange under the symbol “BRBR”.

 

Zayo Infrastructure 11/07/2018 Q42019 Zayo Group Holdings, Inc. ZAYO Spinoff
Zayo Group Holdings, Inc., spinoff details:

November 7, 2018: Zayo Group Holdings (ZAYO) announced it plans to separate into two publicly traded companies: one to focus on providing core communications infrastructure and another to leverage infrastructure to provide solutions for a broad set of enterprise customers.

EnterpriseCo 11/07/2018 Q42019 Zayo Group Holdings, Inc. ZAYO Spinoff
Zayo Group Holdings, Inc., spinoff details:

November 7, 2018: Zayo Group Holdings (ZAYO) announced it plans to separate into two publicly traded companies: one to focus on providing core communications infrastructure and another to leverage infrastructure to provide solutions for a broad set of enterprise customers.

MoviePass Entertainment Holdings Inc. 10/23/2018 N/A Helios and Matheson Analytics Inc. HMNY Carve Out
Helios and Matheson Analytics Inc., spinoff details:

October 23, 2018: Helios and Matheson Analytics (HMNY) announced that its Board of Directors preliminarily has approved a plan to create a vertically integrated film production, marketing and exhibition company. To do this, HMNY would create a new subsidiary named MoviePass Entertainment Holdings Inc. that would take ownership of the shares of MoviePass Inc. and other film related assets held by HMNY.

January 17, 2019: Helios and Matheson Analytics (HMNY) announced that MoviePass Entertainment Holdings Inc. , a newly formed wholly-owned subsidiary of HMNY that would take ownership of the shares of MoviePass Inc. and other film related assets held by HMNY, has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission relating to the proposed distribution by HMNY of a minority of the shares of MoviePass Entertainment common stock held by HMNY as a dividend to stockholders of HMNY as of a record date that is yet to be determined.

Sports business 10/04/2018 H1 2019 The Madison Square Garden Company MSG Spinoff
The Madison Square Garden Company, spinoff details:

October 4, 2018: The Madison Square Garden Company (MSG) announced that it has made important progress towards the potential spin-off of its sports business by filing a confidential initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission (“SEC”).

Prescription Pharmaceuticals (Rx) business 08/09/2018 H2 2019 Perrigo Company plc PRGO Spinoff
Perrigo Company plc, spinoff details:

August 9, 2018: Perrigo Company (PRGO) announced that its Board of Directors approved a plan to separate the Company's Prescription Pharmaceuticals (Rx) business following the Company's previously announced strategic portfolio review.

sports businesses 06/27/2018 N/A The Madison Square Garden Company MSG Carve Out
The Madison Square Garden Company, spinoff details:

June 27, 2018: The Madison Square Garden Company (MSG) announced that its board of directors has unanimously approved a plan to explore a possible spin-off that would separate its sports businesses from its entertainment businesses, creating two distinct publicly traded companies.

GE Healthcare 06/26/2018 Q4 2019 General Electric Company GE Carve Out
General Electric Company, spinoff details:

June 26, 2018: GE (GE) announced the results of its strategic review. GE will focus on Aviation, Power and Renewable Energy, creating a simpler, stronger, leading high-tech Industrial company. In addition to the pending combination of its Transportation business with Wabtec, GE plans to separate GE Healthcare into a standalone company, pursue an orderly separation from BHGE over the next two to three years, make its corporate structure leaner and substantially reduce debt. GE’s Board of Directors unanimously approved the plans announced today.

Powertrain Technology Company 04/10/2018 Q4 2019 Tenneco Inc. TEN Spinoff
Tenneco Inc., spinoff details:

April 10, 2018: Tenneco (TEN) announced that it has signed a definitive agreement to acquire Federal-Mogul. Federal-Mogul is being acquired from Icahn Enterprises L.P. for a total consideration of $5.4 billion to be funded through cash, Tenneco equity and assumption of debt. Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company. The acquisition is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions, with the separation occurring in the second half of 2019.

DRiV Incorporated 04/10/2018 Q4 2019 Tenneco Inc. TEN Spinoff
Tenneco Inc., spinoff details:

April 10, 2018: Tenneco (TEN) announced that it has signed a definitive agreement to acquire Federal-Mogul. Federal-Mogul is being acquired from Icahn Enterprises L.P. for a total consideration of $5.4 billion to be funded through cash, Tenneco equity and assumption of debt. Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company. The acquisition is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions, with the separation occurring in the second half of 2019.

February 15, 2019: Tenneco (TEN) announced that DRiV Incorporated will be the name of the future publicly traded Aftermarket and Ride Performance company that will launch in the second half of this year, following Tenneco’s separation into two independent companies.

Zone Technologies, Inc. 03/15/2018 N/A Helios and Matheson Analytics Inc. HMNY Carve Out
Helios and Matheson Analytics Inc., spinoff details:

March 15, 2018: Helios and Matheson Analytics (HMNY) announced that its board of directors has approved a plan to spin-off its wholly-owned subsidiary, Zone Technologies, Inc. (“Zone”). Following the spin-off, Zone would become an independent publicly traded company that HMNY expects to also be listed on Nasdaq.

DWS asset management business 02/26/2018 N/A Deutsche Bank Aktiengesellschaft DB Carve Out
Deutsche Bank Aktiengesellschaft, spinoff details:

February 26, 2018: Deutsche Bank (DB) is poised to take the most tangible step so far in its reorganization with the stock market spinoff of its DWS fund management group as early as next month.

Long Island Brand Beverages, LLC 02/20/2018 Q4 2019 Long Blockchain Corp. LBCC Carve Out
Long Blockchain Corp., spinoff details:

February 20, 2018: The Board of Directors of Long Blockchain (LBCC) has approved it’s Management’s intentions to pursue a spin-off of the Company’s existing beverage subsidiary, Long Island Brand Beverages, LLC (“LIBB”).  The Company aims to structure and complete the proposed spin-off during the second quarter of 2018, with the intention to maintain a public listing for the beverage business.

September 20, 2019: Long Blockchain (LBCC) announced that it has entered into a definitive agreement for the sale of its wholly-owned beverage subsidiary, Long Island Brand Beverages LLC (“LIBB”), to ECC Ventures 2 Corp.

Gas Ships Limited Inc. 02/08/2018 N/A DryShips Inc. DRYS Spinoff
DryShips Inc., spinoff details:

February 8, 2018: DryShips (DRYS), a diversified owner of ocean going cargo vessels, announced today that its wholly owned subsidiary, Gas Ships Limited Inc., ("Gas Ships Limited") has filed a registration statement on Form F-1 with the U.S. Securities & Exchange Commission.  The filing relates to the Company's spin off of its gas carrier business from the Company. In the spin-off, DryShips will distribute to holders of its common stock 49% of the issued and outstanding shares of Gas Ships Limited's common stock.  Following the spin-off, Gas Ships Limited will be a publicly-traded company, and DryShips will retain a 51% ownership interest in Gas Ships Limited.

SureFly, Inc. 12/27/2017 N/A Workhorse Group Inc. WKHS Carve Out
Workhorse Group Inc., spinoff details:

December 27, 2017: Workhorse Group (WKHS), an American technology company focused on providing sustainable and cost-effective electric mobility solutions to the transportation sector, announced its intention to spin off its aviation division, which includes its SureFlyTM personal helicopter, into a separate publicly traded company named SureFly, Inc.

Yarra Therapeutics 12/21/2017 N/A Array BioPharma Inc. ARRY Spinoff
Array BioPharma Inc., spinoff details:

On December 21, 2017, Array BioPharma (ARRY) contributed certain rights and assets related to its ARRY-797 drug program, including all patents, patent applications and other intellectual property rights, pre-clinical and clinical data, regulatory submissions, inventory, contracts, equipment and books and records related to its ARRY-797 drug program (the “797 Assets”), to Yarra Therapeutics, LLC, a Delaware limited liability company and wholly-owned subsidiary of Array (“Yarra”).

SpringWorks Therapeutics 09/25/2017 09/12/2019 Pfizer Inc. PFE Spinoff
Pfizer Inc., spinoff details:

September 25, 2017: Pfizer (PFE) announced that it will spin off four experimental drugs that it had decided to shelve into a new company, called SpringWorks Therapeutics that will eventually go public, to give them a better chance to get developed with the backing of outside investors including Bain Capital.

September 3, 2019: SpringWorks Therapeutics plans to list on the Nasdaq under the symbol SWTX. J.P. Morgan, Goldman Sachs and Cowen are the joint bookrunners on the deal. It is expected to price on Thursday, September 12, 2019.

Nordic American Offshore Ltd. 06/12/2014 N/A Nordic American Tankers Limited NAT Spinoff
Nordic American Tankers Limited, spinoff details:

This is a partial spinoff.

August 7, 2017: Payment of the cash dividend and the distribution of shares are expected to be on or about August 31, 2017 to shareholders of record August 14, 2017. (NAT) will distribute one (NAO) share per 24.4 NAT shares. NAT will not distribute fractional NAO shares. Fractional shares will be compensated by a cash dividend based on the NAO closing price on July 20, 2017, which was $1.22.

  Spinoff Name Announced Date Parent Symbol
Upjohn 07/29/2019 PFE
Pfizer Inc., spinoff details:

July 29, 2019: Mylan (MYL) and Pfizer (PFE) announced a definitive agreement to combine Mylan with Upjohn, Pfizer’s off-patent branded and generic established medicines business, creating a new global pharmaceutical company. Under the terms of the agreement, which is structured as an all-stock, Reverse Morris Trust transaction, each Mylan share would be converted into one share of the new company. Pfizer shareholders would own 57% of the combined new company, and Mylan shareholders would own 43%.

Conifer business 07/24/2019 THC
Tenet Healthcare Corporation, spinoff details:

July 24, 2019: Tenet Healthcare Corporation (THC) announced its intention to pursue a tax-free spin-off of its Conifer business as a separate, independent publicly traded company. The company expects to complete the spin-off by the end of the second quarter of 2021.

Food & Specialty Metal Packaging business 07/15/2019 ARD
Ardagh Group S.A., spinoff details:

July 15, 2019: Ardagh Group (ARD) announced that it has entered into an agreement to combine its Food & Specialty Metal Packaging business with the business of Exal Corporation to form Trivium Packaging.

Taronis Fuels, Inc. 07/15/2019 TRNX
Taronis Technologies, Inc., spinoff details:

July 15, 2019: Taronis Technologies (TRNX) announced its intention to spin-off its wholly-owned subsidiary, Taronis Fuels, Inc.

Update(s)

On August 21, 2019, the Company was notified by the Nasdaq Capital Market that the Company needed to revised the record date for the Company’s proposed spin-off of Taronis Fuels, Inc. because Nasdaq is unable to process reverse stock splits while spin-offs are pending. Due to this last-minute request by Nasdaq, the Company has reset the record date for the spin-off of Taronis Fuels to November 5, 2019, which is the date Taronis Fuel’s Form 10 will go effective, assuming it is filed on September 6, 2019.

Management Services 06/17/2019 ACM
AECOM, spinoff details:

June 17, 2019: AECOM (ACM) announced that its Board of Directors has unanimously approved a plan to pursue a spin-off of the Company’s Management Services segment into a leading, standalone government services company. The transaction is currently expected to be completed in the second half of fiscal 2020.

TiVo’s Product business 05/09/2019 TIVO
TiVo Corporation, spinoff details:

May 9, 2019: TiVo Corporation (TIVO) reported that the Company’s Board has unanimously approved a plan to separate its Product and IP Licensing businesses.

The Pennant Group, Inc. 05/06/2019 ENSG
The Ensign Group, Inc., spinoff details:

May 6, 2019: The Ensign Group (ENSG) announced a plan to separate its home health and hospice agencies and substantially all of its senior living businesses into a separate publicly-traded company. Upon consummation of the spin-off, the two companies will include: The Ensign Group, Inc., which will include transitional and skilled services, rehabilitative care services, healthcare campuses, post-acute-related new business ventures and real estate investments; and The Pennant Group, Inc., which will include Ensign’s home health and hospice operations, substantially all of Ensign’s senior living operations, and Ensign’s mobile diagnostic and clinical laboratory operations. The spin-off is expected to be tax-free to Ensign’s shareholders, except for any cash paid in lieu of fractional shares. Pennant has applied to list its shares on the NASDAQ stock market under the ticker symbol “PNTG.”

September 9, 2019: The spin-off will be completed by way of a pro rata distribution of Pennant common stock to Ensign’s stockholders of record on September 20, 2019, the spin-off record date.

Ingersoll Rand Industrial 04/30/2019 IR
Ingersoll-Rand Plc, spinoff details:

April 30, 2019: Gardner Denver Holdings (GDI) and Ingersoll-Rand (IR) announced that they have entered into a definitive agreement pursuant to which Ingersoll Rand will separate its Industrial segment (“Ingersoll Rand Industrial”) by way of a spin-off to Ingersoll Rand’s shareholders and then combine it with Gardner Denver. The transaction will be effected through a “Reverse Morris Trust” transaction pursuant to which Ingersoll Rand Industrial is expected to be spun-off to Ingersoll Rand’s shareholders and simultaneously merged with and surviving as a wholly-owned subsidiary of Gardner Denver.

July 1, 2019: The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (“HSR Act”) for the proposed combination of the Industrial segment of Ingersoll-Rand (IR) with Gardner Denver Holding(GDI) has expired. Expiration of the HSR Act waiting period satisfies one of the conditions to closing of the transaction. The transaction, which is expected to close by early 2020, remains subject to other closing conditions, including approval by Gardner Denver stockholders, other regulatory approvals and customary closing conditions.

Lighting business unit 03/01/2019 ETN
Eaton Corporation plc, spinoff details:

March 1, 2019: Eaton Corp (ETN) said that it would spin-off its lighting business unit, which makes LED lighting and controls. The spin-off, which is aimed at creating an independent, publicly traded company, is expected to be completed by the end of 2019.

Old Navy 02/28/2019 GPS
The Gap, Inc., spinoff details:

February 26, 2019: Gap Inc. (GPS) announced plans to create two independent publicly traded companies: Old Navy, a category-leader in family apparel, and a yet-to-be-named company (“NewCo”), which will consist of the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City. Gap Inc. expects to effect the separation through a spin-off that is intended to generally be tax-free to Gap Inc.’s shareholders for U.S. federal income tax purposes. The transaction is currently targeted to be completed in 2020.

Global Rolled Products 02/08/2019 ARNC
Arconic Inc., spinoff details:

February 8, 2019: Arconic (ARNC) announced that the portfolio of the company will be separated into Engineered Products & Forgings and Global Rolled Products, with a spin-off of one of the businesses. The Company will also consider the sale of businesses that do not best fit into Engineered Products & Forgings or Global Rolled Products.

Upstream Energy business 02/04/2019 ECL
Ecolab Inc., spinoff details:

February 4, 2019: Ecolab (ECL) announced that it plans to spin off its Upstream energy businesses as a standalone publicly-traded company. Ecolab currently expects that the transaction will be completed by mid-year 2020.

MYnd Analytics California 01/07/2019 MYND
MYnd Analytics, Inc., spinoff details:

January 7, 2019: MYnd Analytics (MYND) intends to transfer all of its assets (including cash and its equity interest in Arcadian Telepsychiatry Services, LLC) and liabilities into its wholly-owned subsidiary, MYnd Analytics California, and to distribute the shares of MYnd Analytics California to MYnd Analytics’ shareholders as of a record date prior to the merger, which will be set prior to the merger effective time.

GE Digital business 12/13/2018 GE
General Electric Company, spinoff details:

December 13, 2018: General Electric (GE) announced plans to spin off its GE Digital business and establish an independent internet of things company, built around several GE Digital technologies.

Specialty Generics/Active Pharmaceutical Ingredients (Specialty Generics) business and AMITIZA® 12/06/2018 MNK
Mallinckrodt plc, spinoff details:

December 6, 2019: Mallinckrodt (MNK) announced plans to spin off a new company consisting of Mallinckrodt’s Specialty Generics/Active Pharmaceutical Ingredients (Specialty Generics) business and AMITIZA® (lubiprostone) to Mallinckrodt shareholders, subject to final Board approval.

Super Crypto Mining, Inc. 11/27/2018 DPW
DPW Holdings, Inc., spinoff details:

November 27, 2018: DPW Holdings (DPW) announced that its Board of Directors has authorized the officers of DPW to pursue a spinoff of DPW’s wholly-owned subsidiary Super Crypto Mining, Inc.

crude and product tanker business 11/27/2018 CPLP
Capital Product Partners L.P., spinoff details:

November 27, 2018: Capital Product Partners (CPLP) and DSS Holdings have entered into a definitive transaction agreement pursuant to which CPLP has agreed to spin off its crude and product tanker business into a separate publicly listed company, which will merge with DSS’ businesses and operations in a share-for-share transaction. The new company, to be called Diamond S Shipping Inc.

March 8, 2019: Capital Product Partners (CPLP) announced that its Board of Directors has established March 19, 2019 as the record date for the previously announced spin-off of its crude and product tanker business into a separate publicly listed company, Diamond S Shipping (“DSSI”).

Otis Elevator Company 11/26/2018 UTX
United Technologies Corporation, spinoff details:

November 26, 2018: United Technologies (UTX) announced the completion of its acquisition of Rockwell Collins (COL) and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies.

United Technologies 11/26/2018 UTX
United Technologies Corporation, spinoff details:

November 26, 2018: United Technologies (UTX) announced the completion of its acquisition of Rockwell Collins (COL) and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies.

Carrier 11/26/2018 UTX
United Technologies Corporation, spinoff details:

November 26, 2018: United Technologies (UTX) announced the completion of its acquisition of Rockwell Collins (COL) and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies.

Update(s)

September 16, 2019: Carrier appointed Tim McLevish as chief financial officer as it prepares to become a public company after completing its separation from United Technologies Corp (UTX).

Cerence 11/19/2018 NUAN
Nuance Communications, Inc., spinoff details:

November 19, 2018: Nuance Communications (NUAN) announced its intention to spin off its Automotive business segment into a new, independent, publicly traded company ("Nuance Auto"). The standalone entity will be a pure-play, next-generation automotive software company.  Immediately following the transaction, which is expected to be completed before the end of fiscal 2019, Nuance shareholders will own shares of both companies.

September 4, 2019: Nuance expects to distribute shares in the new company, Cerence to its sharedolders, following the end of their September 30, 2019 fiscal year. At that time, Cerence will be listed on the Nasdaq Global Select Market under the ticker symbol “CRNC,”.

September 9, 2019: The spinoff is expected to be completed on October 1, 2019.

BellRing Brands 11/15/2018 POST
Post Holdings, Inc., spinoff details:

November 15, 2018: Post Holding (POST) announced it plans to pursue an initial public offering of shares of common stock of a company which will be comprised of its Active Nutrition business.

September 20, 2019: Post Holdings (POST) announced that its active nutrition business will be named BellRing Brands, Inc. following the completion of the previously announced proposed initial public offering of approximately 20% of its ownership. The IPO is expected to be completed in the fall of 2019, subject to market and other conditions. BellRing has applied for its Class A common stock to be listed on the New York Stock Exchange under the symbol “BRBR”.

 

Zayo Infrastructure 11/07/2018 ZAYO
Zayo Group Holdings, Inc., spinoff details:

November 7, 2018: Zayo Group Holdings (ZAYO) announced it plans to separate into two publicly traded companies: one to focus on providing core communications infrastructure and another to leverage infrastructure to provide solutions for a broad set of enterprise customers.

EnterpriseCo 11/07/2018 ZAYO
Zayo Group Holdings, Inc., spinoff details:

November 7, 2018: Zayo Group Holdings (ZAYO) announced it plans to separate into two publicly traded companies: one to focus on providing core communications infrastructure and another to leverage infrastructure to provide solutions for a broad set of enterprise customers.

MoviePass Entertainment Holdings Inc. 10/23/2018 HMNY
Helios and Matheson Analytics Inc., spinoff details:

October 23, 2018: Helios and Matheson Analytics (HMNY) announced that its Board of Directors preliminarily has approved a plan to create a vertically integrated film production, marketing and exhibition company. To do this, HMNY would create a new subsidiary named MoviePass Entertainment Holdings Inc. that would take ownership of the shares of MoviePass Inc. and other film related assets held by HMNY.

January 17, 2019: Helios and Matheson Analytics (HMNY) announced that MoviePass Entertainment Holdings Inc. , a newly formed wholly-owned subsidiary of HMNY that would take ownership of the shares of MoviePass Inc. and other film related assets held by HMNY, has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission relating to the proposed distribution by HMNY of a minority of the shares of MoviePass Entertainment common stock held by HMNY as a dividend to stockholders of HMNY as of a record date that is yet to be determined.

Sports business 10/04/2018 MSG
The Madison Square Garden Company, spinoff details:

October 4, 2018: The Madison Square Garden Company (MSG) announced that it has made important progress towards the potential spin-off of its sports business by filing a confidential initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission (“SEC”).

Prescription Pharmaceuticals (Rx) business 08/09/2018 PRGO
Perrigo Company plc, spinoff details:

August 9, 2018: Perrigo Company (PRGO) announced that its Board of Directors approved a plan to separate the Company's Prescription Pharmaceuticals (Rx) business following the Company's previously announced strategic portfolio review.

sports businesses 06/27/2018 MSG
The Madison Square Garden Company, spinoff details:

June 27, 2018: The Madison Square Garden Company (MSG) announced that its board of directors has unanimously approved a plan to explore a possible spin-off that would separate its sports businesses from its entertainment businesses, creating two distinct publicly traded companies.

GE Healthcare 06/26/2018 GE
General Electric Company, spinoff details:

June 26, 2018: GE (GE) announced the results of its strategic review. GE will focus on Aviation, Power and Renewable Energy, creating a simpler, stronger, leading high-tech Industrial company. In addition to the pending combination of its Transportation business with Wabtec, GE plans to separate GE Healthcare into a standalone company, pursue an orderly separation from BHGE over the next two to three years, make its corporate structure leaner and substantially reduce debt. GE’s Board of Directors unanimously approved the plans announced today.

Powertrain Technology Company 04/10/2018 TEN
Tenneco Inc., spinoff details:

April 10, 2018: Tenneco (TEN) announced that it has signed a definitive agreement to acquire Federal-Mogul. Federal-Mogul is being acquired from Icahn Enterprises L.P. for a total consideration of $5.4 billion to be funded through cash, Tenneco equity and assumption of debt. Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company. The acquisition is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions, with the separation occurring in the second half of 2019.

DRiV Incorporated 04/10/2018 TEN
Tenneco Inc., spinoff details:

April 10, 2018: Tenneco (TEN) announced that it has signed a definitive agreement to acquire Federal-Mogul. Federal-Mogul is being acquired from Icahn Enterprises L.P. for a total consideration of $5.4 billion to be funded through cash, Tenneco equity and assumption of debt. Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company. The acquisition is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions, with the separation occurring in the second half of 2019.

February 15, 2019: Tenneco (TEN) announced that DRiV Incorporated will be the name of the future publicly traded Aftermarket and Ride Performance company that will launch in the second half of this year, following Tenneco’s separation into two independent companies.

Zone Technologies, Inc. 03/15/2018 HMNY
Helios and Matheson Analytics Inc., spinoff details:

March 15, 2018: Helios and Matheson Analytics (HMNY) announced that its board of directors has approved a plan to spin-off its wholly-owned subsidiary, Zone Technologies, Inc. (“Zone”). Following the spin-off, Zone would become an independent publicly traded company that HMNY expects to also be listed on Nasdaq.

DWS asset management business 02/26/2018 DB
Deutsche Bank Aktiengesellschaft, spinoff details:

February 26, 2018: Deutsche Bank (DB) is poised to take the most tangible step so far in its reorganization with the stock market spinoff of its DWS fund management group as early as next month.

Long Island Brand Beverages, LLC 02/20/2018 LBCC
Long Blockchain Corp., spinoff details:

February 20, 2018: The Board of Directors of Long Blockchain (LBCC) has approved it’s Management’s intentions to pursue a spin-off of the Company’s existing beverage subsidiary, Long Island Brand Beverages, LLC (“LIBB”).  The Company aims to structure and complete the proposed spin-off during the second quarter of 2018, with the intention to maintain a public listing for the beverage business.

September 20, 2019: Long Blockchain (LBCC) announced that it has entered into a definitive agreement for the sale of its wholly-owned beverage subsidiary, Long Island Brand Beverages LLC (“LIBB”), to ECC Ventures 2 Corp.

Gas Ships Limited Inc. 02/08/2018 DRYS
DryShips Inc., spinoff details:

February 8, 2018: DryShips (DRYS), a diversified owner of ocean going cargo vessels, announced today that its wholly owned subsidiary, Gas Ships Limited Inc., ("Gas Ships Limited") has filed a registration statement on Form F-1 with the U.S. Securities & Exchange Commission.  The filing relates to the Company's spin off of its gas carrier business from the Company. In the spin-off, DryShips will distribute to holders of its common stock 49% of the issued and outstanding shares of Gas Ships Limited's common stock.  Following the spin-off, Gas Ships Limited will be a publicly-traded company, and DryShips will retain a 51% ownership interest in Gas Ships Limited.

SureFly, Inc. 12/27/2017 WKHS
Workhorse Group Inc., spinoff details:

December 27, 2017: Workhorse Group (WKHS), an American technology company focused on providing sustainable and cost-effective electric mobility solutions to the transportation sector, announced its intention to spin off its aviation division, which includes its SureFlyTM personal helicopter, into a separate publicly traded company named SureFly, Inc.

Yarra Therapeutics 12/21/2017 ARRY
Array BioPharma Inc., spinoff details:

On December 21, 2017, Array BioPharma (ARRY) contributed certain rights and assets related to its ARRY-797 drug program, including all patents, patent applications and other intellectual property rights, pre-clinical and clinical data, regulatory submissions, inventory, contracts, equipment and books and records related to its ARRY-797 drug program (the “797 Assets”), to Yarra Therapeutics, LLC, a Delaware limited liability company and wholly-owned subsidiary of Array (“Yarra”).

SpringWorks Therapeutics 09/25/2017 PFE
Pfizer Inc., spinoff details:

September 25, 2017: Pfizer (PFE) announced that it will spin off four experimental drugs that it had decided to shelve into a new company, called SpringWorks Therapeutics that will eventually go public, to give them a better chance to get developed with the backing of outside investors including Bain Capital.

September 3, 2019: SpringWorks Therapeutics plans to list on the Nasdaq under the symbol SWTX. J.P. Morgan, Goldman Sachs and Cowen are the joint bookrunners on the deal. It is expected to price on Thursday, September 12, 2019.

Nordic American Offshore Ltd. 06/12/2014 NAT
Nordic American Tankers Limited, spinoff details:

This is a partial spinoff.

August 7, 2017: Payment of the cash dividend and the distribution of shares are expected to be on or about August 31, 2017 to shareholders of record August 14, 2017. (NAT) will distribute one (NAO) share per 24.4 NAT shares. NAT will not distribute fractional NAO shares. Fractional shares will be compensated by a cash dividend based on the NAO closing price on July 20, 2017, which was $1.22.