Flex Announces Completion of the Spin-Off of its Remaining Interest in Nextracker
January 4, 2024 | FlexEstimated reading time: Less than a minute
Flex announced the completion of the spin-off of all of its remaining interest in Nextracker Inc. to Flex shareholders on a pro rata basis.
Under the previously disclosed terms of the transaction, Flex shareholders received approximately 0.17 shares of Nextracker Class A common stock for every Flex ordinary share held as of the record date of December 29, 2023, with 74,432,619 shares of Nextracker Class A common stock issued to Flex shareholders in the aggregate. Flex shareholders will receive cash in lieu of any fractional shares.
As a result of the completion of the spin-off, Flex no longer directly or indirectly holds any shares of Nextracker common stock or any securities convertible into or exchangeable for shares of Nextracker common stock. Flex ordinary shares will continue to trade on Nasdaq under the ticker symbol "FLEX" and shares of Nextracker Class A common stock will continue to trade on Nasdaq under the ticker symbol "NXT".
Suggested Items
Warm Windows and Streamlined Skin Patches – IDTechEx Explores Flexible and Printed Electronics
04/26/2024 | IDTechExFlexible and printed electronics can be integrated into cars and homes to create modern aesthetics that are beneficial and easy to use. From luminous car controls to food labels that communicate the quality of food, the uses of this technology are endless and can upgrade many areas of everyday life.
Trackwise Awarded Prestigious King’s Award for Enterprise for Innovation
04/24/2024 | TrackwiseTrackwise Designs plc, the innovative manufacturer of specialist products using printed circuit technology, is delighted to be recognised with a prestigious King’s Award for Enterprise. Announced, Friday 21 April, Trackwise has been recognised for its excellence in Innovation for its length-unlimited, multilayer flexible printed circuits.
Real Time with... IPC APEX EXPO 2024: Integrating Automation into the North American PCB Market
04/18/2024 | Real Time with...IPC APEX EXPODan Beaulieu introduces James Chien from SAA Symtek Automation Asia and Jason Perry from Technica, who are bringing automation to the North American PCB market. They discuss their expertise in automation, equipment sets, and growing opportunities. The focus is on integrating automation into existing shops, considering hardware, software, and flexibility. They also discuss the challenges of modernizing domestic shops and the potential of expanding automation to other markets.
Three Industry Leaders Receive IPC President’s Award
04/17/2024 | IPCIn recognition of their leadership and significant contributions of time and talent to IPC and the electronics industry, three IPC volunteers were presented with the IPC President’s Award at IPC APEX EXPO in Anaheim, Calif., on April 9, 2024.
IDTechEx Discusses the Role of Printed Sensors in Mass-Digitization
04/11/2024 | PRNewswireIntegrated sensors digitizing physical interactions are vital in everyday life. From personalized user experiences to warehouse inventory management, data-driven insights are driving demand for smarter sensors — and lots of them.