DivestmentAug 4, 2026, 06:26 AM
Resideo Completes ADI Spin-Off; Repays $900M Debt
AI Summary
Resideo Technologies, Inc. announced the completion of its spin-off of ADI Global Distribution, establishing Resideo as a pure-play building technologies company. ADI's common stock began trading on the NYSE under "ADIG" on August 4, 2026. In connection with the spin-off, Resideo repaid $900 million of indebtedness and reduced its outstanding preferred stock by 150,000 shares, with an additional $200 million debt repayment expected. The company also entered into various agreements with ADI and amended agreements with CD&R, including extending a lock-up period for CD&R stockholders.
Key Highlights
- Resideo completed the spin-off of ADI Global Distribution on August 4, 2026.
- ADI Global Distribution common stock began trading on NYSE under ticker "ADIG".
- Resideo repaid $900 million of outstanding principal under its Term Loan B credit facility.
- Resideo expects to make a further repayment of approximately $200 million on its Term Loan B.
- Outstanding Resideo Series A Preferred Stock reduced by 150,000 shares, leaving 350,000 shares.
- Resideo entered into an Exchange Agreement with CD&R for preferred stock exchange.
- CD&R stockholders' lock-up period extended to August 3, 2028.
Price Impact
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