Honeywell Unveils Pure-Play Automation Firm After Aerospace Spin-Off and 1-for-2 Split
HON•Honeywell Technologies completed its Aerospace spin-off, distributing one HONA share per two HON shares and launching HONA on Nasdaq while retaining HON for its automation operations. It also executed a 1-for-2 reverse stock split, cutting shares from 634 million to 317 million and halving authorized shares.
1. Completion of Aerospace Spin-Off
Honeywell Technologies finalized the separation of its Aerospace unit, distributing one share of Honeywell Aerospace (HONA) for every two shares of Honeywell Technologies and commencing HONA trading on Nasdaq. Honeywell Technologies continues as HON, focusing exclusively on automation solutions.
2. Execution of Reverse Stock Split
Concurrently, Honeywell Technologies implemented a 1-for-2 reverse stock split for HON, reducing outstanding shares from about 634 million to roughly 317 million and cutting authorized shares from 2 billion to 1 billion. No change was made to the par value of its common stock.
3. Shareholder Mechanics and Settlements
Fractional HON shares resulting from the split will be aggregated and sold by the transfer agent, with affected shareholders receiving cash payments based on prevailing market prices without deductions or interest.
4. Strategic Positioning as Pure-Play Automation
As a standalone pure-play automation company, Honeywell Technologies is positioned to lead industrial automation across building, process and industrial sectors by leveraging its Accelerator operating system, Forge intelligence layer and decades of global customer data.
