Honeywell Board Approves Aerospace Spin-Off Set for June 29

Overview

• The board gave final approval and set a distribution at 12:01 a.m. New York time on June 29, with shareholders of record on Monday, June 15 receiving one Honeywell Aerospace (HONA) share for every two Honeywell (HON) shares they own.
• The SEC declared Honeywell Aerospace’s Form 10 effective on June 11, clearing the last major regulatory hurdle required for the separation to proceed.
• Honeywell Aerospace is expected to trade when‑issued under the ticker HONAV around June 15 and will begin regular trading as HONA on June 29 while the remaining firm will be renamed Honeywell Technologies and keep the HON ticker.
• Trading mechanics before the split will include a regular-way HON market that carries rights to HONA and an ex-distribution HONIV market that does not, and Honeywell confirmed a 1‑for‑2 reverse stock split of Honeywell Technologies that will take effect immediately after the distribution.
• Investors reacted positively to the board approval with HON rising about 4% in morning trade and public supporters such as Jim Cramer saying they plan to hold positions in both companies; company leadership frames the move as the latest step in a multi-year portfolio transformation to sharpen strategy and unlock value.