DivestmentMay 12, 2026, 11:32 AM
Octave Intelligence Spin-Off from Hexagon Effective; Shares to List
AI Summary
Octave Intelligence plc announced that its registration statement on Form 10, related to its spin-off from Hexagon AB, was declared effective by the SEC on May 12, 2026. The distribution of Octave shares to Hexagon shareholders is expected to be completed on May 22, 2026, with a record date of May 22, 2026. Hexagon shareholders will receive one Octave Class A Ordinary Share for every ten Hexagon Class A Shares and one Octave Class B Ordinary Share for every ten Hexagon Class B Shares. Octave Class B Ordinary Shares will list on Nasdaq New York under "OCTV" and Octave SDRs on Nasdaq Stockholm under "OCTV SDB". This strategic move aims to enable both companies to pursue focused growth and enhance long-term shareholder value.
Key Highlights
- SEC declared Octave's Form 10 registration statement effective on May 12, 2026.
- Distribution of Octave shares expected to complete on May 22, 2026, at 1:30 p.m. Stockholm time.
- Record date for the distribution of Octave shares is May 22, 2026.
- Hexagon shareholders to receive 1 Octave Class A/B share for every 10 Hexagon Class A/B shares held.
- Octave Class B Ordinary Shares will list on Nasdaq New York under the symbol "OCTV".
- Octave SDRs, representing Class B Ordinary Shares, will list on Nasdaq Stockholm under "OCTV SDB".
- Octave's Articles and Memorandum of Association were amended and restated.
- Octave will comprise Hexagon's Asset Lifecycle Intelligence, Safety, Infrastructure & Geospatial, ETQ, and Bricsys businesses.