Core Viewpoint - Howard Hughes Holdings Inc. announced the upcoming distribution of shares of Seaport Entertainment Group Inc. to its common stockholders, with trading expected to begin on NYSE American [1][2]. Group 1: Distribution Details - The distribution of Seaport Entertainment shares will occur for HHH common stockholders of record as of July 29, 2024, with the distribution payable after market close on July 31, 2024 [1]. - "When-issued" trading of Seaport Entertainment common stock is set to begin on July 29, 2024, under the symbol "SEG WI," while regular trading will commence on August 1, 2024, under the symbol "SEG" [2]. - HHH common stock will continue to trade "regular way" on the NYSE under the symbol "HHH" until the distribution date, with two markets for HHH stock expected to exist starting July 29, 2024: "regular way" and "ex-distribution" [2]. Group 2: Regulatory and Information Aspects - An Information Statement detailing the distribution and Seaport Entertainment's business will be mailed to HHH stockholders prior to the distribution date [3]. - The distribution is contingent upon customary conditions, including the SEC declaring Seaport Entertainment's Registration Statement effective [3]. Group 3: Company Overview - Howard Hughes Holdings Inc. is involved in owning, managing, and developing commercial, residential, and mixed-use real estate across the U.S., with a portfolio that includes master planned communities and various operating properties [4]. - The company is recognized for its commitment to innovative placemaking and design excellence, positioning itself as a strong player in the real estate market [4].
Howard Hughes Holdings Inc. Announces Change to Seaport Entertainment Group Inc.'s Post-spinoff Stock Exchange