Record Date: 10/2; Distribution Date: 10/16
On September 22, 2023, NCR
NCR
Corporation (NYSE: NCR, $26.58, Market Capitalisation: $3.7 billion), a leading enterprise technology provider for retail stores, restaurants, and self-directed banking, announced that its Board of Directors had provided the timing and additional details regarding its previously announced separation of the NCR Atleos (Spin-Off). As per the company press release, each NCR shareholder will receive one ordinary share of NCR Atleos for every two ordinary shares of NCR. The record date for the distribution for common stockholders is 10/2. To effect the separation, the Company’s Board of Directors has authorized a pro rata distribution to NCR common stockholders as of the close of business on the record date of 100% of the outstanding shares of NCR Atleos. The distribution is expected to be made at 5:00 p.m. local New York City time on 10/16 to the Company’s common stockholders of record as of 5:00 p.m. local New York City time on 10/2, the record date for the distribution. The Company expects “when-issued” trading for NCR Atleos ordinary shares on the NYSE to begin on or about 10/11 and continue through the distribution date under the symbol “NATL WI.” Also, beginning on or about 10/11 and through the distribution date, it is expected that there will be two ways to trade NCR common shares – either with or without the distribution of NCR Atleos common stock. On the first trading day following the distribution, 10/17, NCR Atleos will begin regular-way trading on the NYSE under the ticker symbol “NATL.” Moreover, following the distribution date, NCR Corp will change its name to NCR Voyix and trade under the ticker symbol “VYX.” The Company’s common stock will continue to be listed on the NYSE, and the CUSIP will remain unchanged.
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