Colfax expects that beginning Mathere will be two markets in Colfax common stock on the NYSE: “regular-way” under the symbol “CFX” and “ex-distribution” under the symbol “ENOV WI.” Prior to the Distribution Date, shares of Colfax common stock that trade in the “regular-way” market will trade with the right to receive shares of ESAB common stock on the Distribution Date. Shares of Colfax common stock will continue to trade “regular way” on the NYSE under the symbol “CFX” through the Distribution Date. Following the distribution, Enovis will trade on the NYSE under the symbol “ENOV.” Upon completion of the distribution, Colfax will effect the Reverse Stock Split and change its name to Enovis Corporation (“Enovis”). Shareholders who own Colfax common stock at the close of business on the Record Date will be entitled to ESAB common stock distributed pursuant to the distribution and may trade this entitlement to shares of ESAB common stock, without Colfax common stock they own, on the “when-issued” market. gov, as described in the Information Statement.Ĭolfax also announced that it expects “when-issued” trading of ESAB common stock to begin on March 21, 2022, on the New York Stock Exchange (“NYSE”), under the symbol “ESAB WI.” “Regular-way” trading of ESAB common stock is expected to begin on the NYSE on April 5, 2022, under the symbol “ESAB.” The “when-issued” trading market is a market for ESAB common stock that will be distributed to holders of Colfax common stock after the market close on April 4, 2022.
#Common stock pro rata distributions registration#
The distribution of ESAB common stock remains subject to the satisfaction or waiver of customary conditions, including the Securities and Exchange Commission (“SEC”) having declared effective ESAB’s Registration Statement on Form 10, as amended, which ESAB has filed with the SEC and is available at the SEC’s website at.
#Common stock pro rata distributions pro#
Instead, the fractional shares of ESAB common stock will be aggregated and sold in the open market, with the net proceeds distributed pro rata in cash payments to the Colfax shareholders who otherwise would have received fractional shares of ESAB common stock.Īn Information Statement containing details regarding the distribution of ESAB common stock and ESAB’s business and management following the consummation of the distribution will be mailed to Colfax shareholders prior to the Distribution Date. Immediately following the distribution, Colfax will retain 10% of the outstanding shares of ESAB common stock, which Colfax intends to divest within 12 months after the separation in a tax-efficient exchange for its outstanding debt.įractional shares of ESAB common stock will not be distributed to Colfax shareholders.
:max_bytes(150000):strip_icc()/UsingCommonStockProbabilityDistributionMethods5_2-b16e5f4af7d94c44943cc9aaaef46839.png "common stock pro rata distributions")
As a result of the distribution, Colfax shareholders will receive one share of ESAB common stock for every three shares of Colfax common stock they hold on the Record Date (pre-Reverse Stock Split ratio). The distribution is expected to be payable after the market close on Ap(“Distribution Date”). Wilmington DE, Ma(GLOBE NEWSWIRE) -Colfax Corporation (“Colfax”) (NYSE: CFX) today announced that its Board of Directors has declared (a) a pro rata distribution of 90% of the outstanding common stock of ESAB Corporation (“ESAB”) to Colfax shareholders of record as of the close of business on Ma(the “Record Date”), and (b) that the previously announced reverse stock split of all issued and outstanding shares of Colfax Common Stock will be effected at a one-for-three ratio (the “Reverse Stock Split”) following the distribution of the ESAB shares. Record date for distribution of ESAB common stock will be March 22, 2022ĭistribution Date expected to be April 4, 2022 “When-issued” trading of ESAB and Colfax ex-distribution common stock expected to begin on March 21, 2022
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