8-KOther EventsExhibits & Filings

HONEYWELL INTERNATIONAL INC 8-K Report, Corporate Update (Sep 7, 2016)

Filed September 7, 2016For Securities:HONHONIV

Summary

Honeywell International Inc. (HON) announced via an 8-K filing on September 7, 2016, the details of its spin-off of its wholly-owned subsidiary, AdvanSix Inc. This transaction will be executed as a pro rata dividend of AdvanSix common stock to Honeywell shareholders. The distribution is scheduled to occur at 11:59 p.m. New York City time on October 1, 2016. Shareholders of record as of September 16, 2016, will receive one share of AdvanSix common stock for every 25 shares of Honeywell common stock they hold. This strategic move is expected to allow both Honeywell and the newly independent AdvanSix to focus on their respective core businesses and capital allocation strategies. Investors should note the record date and distribution date as key dates for this corporate action, which effectively separates the performance and prospects of AdvanSix from Honeywell's ongoing operations.

Key Highlights

  • 1Honeywell announced the spin-off of its subsidiary, AdvanSix Inc., through a pro rata dividend of AdvanSix common stock.
  • 2The spin-off is expected to be completed on October 1, 2016.
  • 3Honeywell shareholders of record on September 16, 2016, will receive one share of AdvanSix for every 25 shares of Honeywell held.
  • 4This transaction separates AdvanSix from Honeywell's main business operations.
  • 5The announcement provides clarity on the distribution mechanics and timeline for shareholders.

Frequently Asked Questions

This 8-K filing informs Honeywell shareholders about the details and timeline of the spin-off of AdvanSix Inc. It outlines how Honeywell shareholders will receive shares of AdvanSix as a dividend and the key dates associated with this distribution.

For every 25 shares of Honeywell International Inc. common stock you hold on the record date (September 16, 2016), you will receive one share of AdvanSix Inc. common stock.

The distribution of AdvanSix common stock to Honeywell shareholders will be effective at 11:59 p.m. New York City time on October 1, 2016.

AdvanSix Inc. is a wholly-owned subsidiary of Honeywell that is being spun off. While this specific 8-K does not detail AdvanSix's business, it was previously part of Honeywell's performance materials and technologies segment, focusing on areas like nylon, chemical intermediates, and related products.