Corporate ActionJun 15, 2026, 04:21 PM
Honeywell Aerospace to Spin Off June 29; Desroches Appointed Director
AI Summary
Honeywell Aerospace Inc. announced its upcoming spin-off from Honeywell International Inc. via a stock distribution, with the distribution date set for June 29, 2026. Shareholders will receive one share of Honeywell Aerospace for every two shares of Honeywell held as of the record date, June 15, 2026. The new entity, Honeywell Aerospace, will trade on Nasdaq under the ticker symbol "HONA". Additionally, Pascal Desroches has been appointed as an Independent Director and chair of the Audit Committee. The spin-off is structured to be tax-free for U.S. federal income tax purposes, with cash to be provided in lieu of fractional shares.
Key Highlights
- Honeywell Aerospace Inc. to spin off from Honeywell International Inc. via stock distribution.
- Distribution date set for June 29, 2026; record date is June 15, 2026.
- Shareholders will receive one share of Honeywell Aerospace for every two shares of Honeywell held.
- Honeywell Aerospace common stock to trade on Nasdaq under ticker symbol "HONA".
- Mr. Pascal Desroches appointed as Independent Director and chair of the Audit Committee.
- The spin-off is expected to be tax-free for U.S. federal income tax purposes, excluding cash for fractional shares.
Price Impact