Nextracker Inc. has finalized the spin-off from Flex Ltd., marking a complete ownership separation. Flex shareholders, as per the disclosed terms, received approximately 0.17 shares of Nextracker Class A common stock for each Flex ordinary share held. A total of 74,432,619 shares were issued to Flex shareholders. Cash will be provided for any fractional shares.
Nextracker Inc. achieves independence in Flex Ltd. spin-off
Following the spin-off, Flex no longer holds any Nextracker common stock, and Nextracker Class A common stock remains listed on Nasdaq as “NXT.” Image Credit Nextracker.
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