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Maple Leaf Foods Announces Record Date and Anticipated Closing Date for Spin-Off of Canada Packers
Prnewswire· 2025-09-26 20:00
TSX: MFI www.mapleleaffoods.com MISSISSAUGUA, ON, Sept. 26, 2025 /PRNewswire/ - Maple Leaf Foods Inc. (TSX: MFI) ("MLF" or the "Company") announced today that the previously announced spinoff of its pork operations as Canada Packers Inc. ("Canada Packers") by way of a plan of arrangement (the "Arrangement") is expected to close on October 1, 2025. The record date for the Arrangement (the "Arrangement Record Date") is September 30, 2025. Earlier this year the Company received the required shareholder and cou ...
DuPont Announces Record Date for the Intended Qnity Spin-Off
Prnewswire· 2025-09-24 20:15
Accessibility StatementSkip Navigation DuPont Logo (PRNewsfoto/DuPont) Qnity WILMINGTON, Del., Sept. 24, 2025 /PRNewswire/ --Â DuPont (NYSE: DD) today announced that its board of directors has designated the close of business on October 22, 2025, as the record date for the distribution in connection with the intended spin-off of DuPont's Electronics business, Qnity Electronics, Inc. ("Qnity").* About QnityQnityâ"¢, DuPont's Electronics business, is a premier technology solutions provider across the semicond ...
Magnum CEO dismisses Ben & Jerry's sale talk as listing nears
Yahoo Finance· 2025-09-10 09:28
Group 1 - Magnum CEO Peter ter Kulve emphasized that the company is not considering selling Ben & Jerry's and is focused on reclaiming market share and growing sales as it prepares for its spin-off from Unilever [1][3] - Unilever's ice cream business, which includes brands like Magnum, Ben & Jerry's, Wall's, and Cornetto, is expected to hold over 20% of the approximately $88 billion global ice cream market, competing with rivals such as Nestle-backed Froneri [1] - The separation from Unilever has allowed Magnum to invest in supply chains, sales, and distribution, leading to a significant increase in market share last year [2] Group 2 - Unilever's CEO Fernando Fernandez is implementing changes to streamline management and enhance margins, with the company retaining less than 20% of the ice cream business post-listing [4] - The demerger will provide every Unilever shareholder with a relative stake in Magnum, which is expected to mitigate market volatility typically associated with an IPO [5] - Magnum's CFO Abhijit Bhattacharya stated that the split is beneficial for both Unilever and Magnum, allowing Unilever to focus its portfolio while giving Magnum the opportunity to improve margins [4][5]
Altamira Therapeutics .(CYTO) - 2025 H1 - Earnings Call Transcript
2025-08-29 13:02
Financial Data and Key Metrics Changes - Total operating expenses decreased from $3.9 million in 2024 to $2.6 million in 2025, a decline of 32.9% driven by lower general and administrative expenses and reduced R&D expenditure [16] - Net loss decreased by 64.6% to $1.5 million in 2025 compared to $4.3 million in 2024, primarily due to finance income of $1.7 million from the appreciation of intercompany loans [16] - Cash used in operations decreased by 56.8% from $3.2 million in the first half of 2024 to $1.4 million in 2025 [16] - Shareholders' equity amounted to $4.1 million as of June 30, 2025, compared to $6.6 million at year-end 2024 [16] Business Line Data and Key Metrics Changes - The company is transitioning to a platform model focusing on RNA delivery, which has led to a decrease in spending levels [15] - Significant progress in the RNA delivery business, with a focus on particle formulation and process development [8][9] - The company has established collaborations with multiple partners in the biotech and pharma industry, expanding its licensing strategy [11] Market Data and Key Metrics Changes - The circular RNA market is projected to grow at a rate of 15.2% from 2026 to 2033, potentially reaching $5.2 billion by 2033 [12] Company Strategy and Development Direction - The company plans to spin off a majority of its Swiss subsidiary, Altamira Therapeutics AG, to attract private equity investment [5][6] - The focus will shift to managing and monetizing legacy assets while enhancing the RNA delivery business [17][19] - The company aims to position itself as a classic holding company post-spin-off, with a focus on funding operations through various means [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress in the RNA delivery business and the potential for growth in RNA therapeutics [18][19] - The company acknowledges challenges in raising public market funding and is pursuing a different route with private equity involvement [18] Other Important Information - The company has made progress in transitioning its legacy products, including the BENCHEO nasal spray and AM-125 nasal spray, to new production sites and regulatory classifications [13][14] - A patent for AM-125 was obtained in Japan, expanding its intellectual property protection [14] Q&A Session Summary - No specific questions or answers were documented in the provided content.
Honeywell Announces Filing of Form 10 Registration Statement and Upcoming Investor Day for Planned Spin-Off of Solstice Advanced Materials
Prnewswire· 2025-08-21 20:30
Core Viewpoint - Honeywell has filed a Form 10 registration statement with the SEC for the spin-off of Solstice Advanced Materials, marking a significant step towards establishing Solstice as an independent, innovation-led public company [1][2][3] Company Overview - Solstice Advanced Materials will operate as a pure-play specialty materials company with leading positions in refrigerants, semiconductor materials, protective fibers, and healthcare packaging solutions [3][4] - The company generated net sales of $3.8 billion, net income of $0.6 billion, and adjusted EBITDA of $1.1 billion in 2024 [4] Business Segments - Solstice Advanced Materials will be organized into two operating segments: - Refrigerants & Applied Solutions (RAS): Generated net sales of $2.7 billion in 2024, focusing on low-global-warming-potential refrigerants and related products [4] - Electronic & Specialty Materials (ESM): Generated net sales of $1.0 billion in 2024, offering electronic materials and specialty chemicals [4] Future Plans - An Investor Day is scheduled for October 8, 2025, in New York City, where the leadership team will discuss Solstice's specialized businesses, growth prospects, and financial model [2][3] - The common stock of Solstice is expected to be listed on the Nasdaq under the ticker symbol "SOLS" [6] Strategic Focus - Solstice aims to capitalize on regulatory-driven sustainability trends and advancements in artificial intelligence and computing, focusing on customer-partnered innovation and high-return opportunities [1][3]
TOP Ships Announces Distribution Date of August 1, 2025 for Spin-Off of Rubico Inc.
Globenewswire· 2025-07-31 12:30
Core Viewpoint - TOP Ships Inc. is executing a spin-off of its vessels into a new entity, Rubico Inc., with key dates for distribution and trading outlined [1][2][3]. Group 1: Spin-off Details - The expected distribution date for Rubico common shares is August 1, 2025 [1]. - Rubico shares will begin trading on the Nasdaq Capital Market under the ticker "RUBI" on August 4, 2025 [2]. - The spin-off involves two vessels, M/T Eco Malibu and M/T Eco West Coast, both modern, fuel-efficient Suezmax tankers [3]. Group 2: Shareholder Information - TOP Ships will distribute 100% of Rubico's common shares pro rata to its securityholders of record as of June 16, 2025 [3]. - The NYSE American has established an ex-distribution date of June 16, 2025, after which TOP Ships shares will trade without entitlement to Rubico shares [3]. Group 3: Regulatory Filings - Rubico has filed a registration statement on Form 20-F with the SEC, detailing the terms of the spin-off [4].
Resideo Signs Agreement To Accelerate Payment of All Potential Monetary Obligations Under Indemnification and Reimbursement Agreement with Honeywell and Eliminate All Future Payments
Prnewswire· 2025-07-30 11:00
Core Viewpoint - Resideo Technologies has entered into a definitive agreement with Honeywell to accelerate and eliminate future monetary obligations, involving a one-time cash payment of $1.59 billion in Q3 2025, which is expected to enhance Resideo's financial flexibility and profitability [1][2][3]. Financial Implications - Resideo will make a one-time cash payment of $1.59 billion to Honeywell in Q3 2025, in addition to a scheduled payment of $35 million made on July 29, 2025 [2]. - The termination of the Indemnification Agreement will eliminate annual payments of up to $140 million through 2043, positively impacting Resideo's adjusted earnings per share and free cash flow [2][3]. - Resideo anticipates being above the high-end of its previously provided outlook for Q2 2025, with expected net revenue of $1,805 - $1,855 million, Non-GAAP Adjusted EBITDA of $175 - $195 million, and Non-GAAP Adjusted Earnings Per Share of $0.51 - $0.61 [5]. Strategic Developments - The agreement with Honeywell is seen as a significant turning point for Resideo, enhancing its strategic and financial flexibility while simplifying its obligations to investors [3]. - Resideo plans to finance the payment to Honeywell through approximately $400 million in cash-on-hand and new senior secured debt financing committed by J.P. Morgan and Wells Fargo [3]. - Resideo announced its intention to separate its ADI Global Distribution business through a tax-free spin-off to shareholders, creating two independent public companies [4].
Fortive Finalizes Ralliant Spin-Off, Eyes Growth and Resilience
ZACKS· 2025-07-01 13:00
Core Insights - Fortive Corporation has completed the spin-off of its Precision Technologies segment, creating Ralliant Corporation, which began trading on the NYSE under the ticker "RAL" on June 30, 2025 [1][9] - Post-separation, Fortive will focus on Intelligent Operating Solutions and Advanced Healthcare Solutions, while Ralliant will specialize in precision instruments and engineered products [1][2] Company Focus and Strategy - Fortive aims to enhance its recurring revenues and software capabilities, positioning itself for accelerated growth and increased earnings [2][4] - Ralliant is expected to leverage key technology trends to thrive independently [2] Shareholder Impact - Fortive shareholders received one Ralliant share for every three Fortive shares held as of June 16, 2025, totaling around 113 million shares distributed [3] Financial Performance and Challenges - Fortive reported strong fundamentals, including approximately 50% recurring revenues and robust free cash flow, despite facing rising tariff-related pricing pressures and uncertain demand [4][5] - The company anticipates flat to slightly lower revenues, while Ralliant is expected to report a mid-single-digit revenue decline [5] Earnings Guidance - Fortive expects its second-quarter adjusted earnings per share to remain near the midpoint of its prior forecast of 85 cents to 90 cents [6][9] Market Position - Fortive currently holds a Zacks Rank 3 (Hold) and has seen its shares decline by 29.9% over the past six months, contrasting with the Zacks Electronics - Testing Equipment industry's growth of 0.3% [7]
Fortive Or Its Spin-Off Ralliant: Which Stock Is A Better Buy?
Benzinga· 2025-06-27 13:06
Core Viewpoint - Ralliant Corp, a spin-off from Fortive Corp, is set to commence trading on the NYSE, allowing Fortive to focus on high-growth segments while Ralliant can allocate resources more efficiently towards its capital-intensive Precision Technologies business [2][3][4]. Company Overview - Ralliant Corp will include the Precision Technologies business, operating through two segments: Test and Measurement (56% of total sales) and Sensors and Safety Systems (44% of total sales) [10]. - Fortive (ex Ralliant) will retain its Intelligent Operating Solutions (IOS) and Advanced Healthcare Solutions (AHS) segments, which generate nearly 50% recurring revenue [5][6]. Financial Structure - Fortive will receive a $1.15 billion dividend from Ralliant, with $700 million allocated for debt repayment and the remainder for share buybacks [4][9]. - Ralliant will issue new debt of $1.15 billion to fund the cash distribution to Fortive, resulting in a pro forma cash position of $150 million and a net debt of $1.0 billion [11]. Revenue and Growth Projections - Fortive (ex Ralliant) is projected to achieve $4 billion in revenues with 29% adjusted EBITDA margins and a revenue growth of 3.6% in FY25 [6][12]. - Ralliant Corp is expected to deliver revenue growth of 3.5% in FY25 and 4.0% in FY26, with adjusted EBITDA margins of 23.7% in FY25 [13]. Valuation - Fortive (ex Ralliant) is valued using an EV/EBITDA multiple, with a 12-month price target of $62.70 based on its higher margin profile and reducing debt [16]. - Ralliant Corp is valued at a lower multiple of 12.4x 2026E adjusted EBITDA, with a 12-month price target of $52.40, reflecting its lower growth and margin profile [17].
TOP Ships Inc. Announces Ex-Distribution Date for Planned Spin-Off of Rubico, a New Nasdaq-Listed Suezmax Tanker Company
Globenewswire· 2025-06-05 12:38
Core Viewpoint - TOP Ships Inc. is planning a spin-off of its subsidiary Rubico Inc., which will become an independent publicly-traded company listed on the Nasdaq Capital Market [2][6]. Group 1: Spin-off Details - The spin-off will involve the distribution of 100% of Rubico's common shares to TOP Ships' securityholders of record as of June 16, 2025 [2][3]. - Approximately 3,057,337 Rubico common shares are expected to be distributed at a ratio of one Rubico share for every two TOP Ships shares held [4]. - The NYSE has set June 16, 2025, as the ex-distribution date, meaning TOP Ships shares will trade without entitlement to Rubico shares from that date [3][4]. Group 2: Financial Aspects - Rubico plans to raise $1.5 million through a private placement of its common shares at a price of $20.00 per share [5]. - The spin-off transaction is contingent upon the effectiveness of Rubico's registration statement with the SEC and the approval for listing on the Nasdaq [6]. Group 3: Company Overview - TOP Ships Inc. operates modern, fuel-efficient eco tanker vessels, focusing on the transportation of crude oil, petroleum products, and bulk liquid chemicals [7].