Summary
This 8-K filing from Carrier Global Corporation (CARR) on March 16, 2020, is a crucial update regarding its separation from United Technologies Corporation (UTC). The key takeaway for investors is that the SEC registration statement related to the spin-off has become effective, paving the way for the independent trading of Carrier Global Corporation. This filing announces the effectiveness of the registration statement and provides key dates for the upcoming distribution of Carrier shares to UTC shareholders. Investors should note the record date for the distribution and the expected distribution date, after which Carrier will begin trading as a separate entity. This marks a significant step in the company's transition to becoming a standalone, publicly traded company.
Key Highlights
- 1Carrier Global Corporation's SEC registration statement on Form 10 has become effective as of March 16, 2020.
- 2The distribution of Carrier Common Stock to United Technologies Corporation (UTC) shareowners is moving forward.
- 3The record date for the distribution has been set for March 19, 2020, at 5:00 p.m. EDT.
- 4The expected distribution date for Carrier shares is April 3, 2020.
- 5Carrier Common Stock is expected to commence "when-issued" trading on the NYSE under the ticker symbol "CARR WI" starting around March 18, 2020.
- 6Regular way trading for Carrier Common Stock under the ticker symbol "CARR" will begin on April 3, 2020, following the completion of the distribution.
- 7The filing includes the final Information Statement dated March 16, 2020, which contains important details about the spin-off and the company's business.