Honeywell board approves spin-off of Solstice Advanced Materials

Honeywell (HON) announced that its Board of Directors has formally approved the planned spin-off of Solstice Advanced Materials. This approval represents a significant milestone in the separation process, which remains on track for completion on October 30. At 12:01 a.m. Eastern Time on October 30, Honeywell will distribute all of the issued and outstanding shares of Solstice common stock pro rata to Honeywell shareowners of record on October 17, on the basis of one share of Solstice common stock for every four shares of Honeywell common stock held as of the close of business on the Record Date. The distribution is subject to the satisfaction or waiver of certain conditions, as set forth in the form of Separation and Distribution Agreement filed with the U.S. Securities and Exchange Commission as part of Solstice’s registration statement on Form 10.