Investors of record as of July 20 will receive one share of ADI for every two shares of Resideo held. Beginning July 29, the company anticipates the start of a when-issued market for ADI and an ex-distribution market for Resideo, allowing shares to trade with or without the right to the new distribution during that window. Regular trading for ADI is slated to commence August 4 on the New York Stock Exchange under the ticker ADIG, while Resideo will continue to trade under its current REZI symbol. Aside from potential cash payments for fractional shares, the company maintains that the distribution will not trigger federal tax liabilities for participants.
In section Market Quotes
Resideo Sets August Date for ADI Global Distribution Spin-off
Resideo Technologies will officially separate its ADI Global Distribution business on August 3, executing the move as a special stock dividend. The transition marks a significant restructuring for the company, which expects the spinoff to remain tax-free for U.S. federal income tax purposes for its shareholders.
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