Honeywell Technologies completes spin-off of Aerospace business, launches as pure-play automation company

Corporate Action
โดย PR Newswire·Read original
Summary · why it matters

Honeywell Technologies has completed the spin-off of its Aerospace Technologies business, which now operates as Honeywell Aerospace and begins trading on Nasdaq under the ticker HONA. Honeywell Technologies continues to trade on Nasdaq under the ticker HON, following a 1-for-2 reverse stock split that reduced its outstanding shares from approximately 634 million to 317 million. The separation marks the final step in Honeywell's plan to create three independent companies: Honeywell Technologies, Honeywell Aerospace, and Solstice Advanced Materials. Honeywell Technologies is now a pure-play automation company serving the building, industrial, and process sectors, with a focus on leading the transition from automation to autonomy. The spin-off was executed through a distribution of one Honeywell Aerospace share for every two Honeywell Technologies shares held as of the June 15 record date.

Impact on stocks 3

Smart City / Autonomous Infrastructure▲ · 1 stocks
Honeywell International Inc
HON
▲ PositiveCapitalrelevance

Honeywell Technologies completes spin-off, becoming a pure-play automation company with a reverse stock split, which is a strategic restructuring event.

Defense & Geopolitical Fragmentation▲ · 1 stocks
Honeywell Aerospace Inc
HONA
▲ PositiveCapitalrelevance

Honeywell Aerospace begins trading as a separate public company on Nasdaq, a positive milestone from the spin-off.

Critical Materials & Supply Chain▲ · 1 stocks
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