Knocking Down the Bone Pile: Revamp Your Components with BGA Reballing
Global Sourcing Spotlight: Balancing Speed and Flexibility Without Sacrificing Control
SMT Perspectives & Prospects: Artificial Intelligence Part 6: Data Module 1
Flex Announces Record and Distribution Dates For Nextracker Spin-Off And Related Singapore High Court Approval
December 26, 2023 | FlexEstimated reading time: 1 minute
Flex announced that it has declared December 29, 2023 as the record date for its previously announced spin-off of all of its remaining interest in Nextracker Inc. (Nextracker) to Flex shareholders on a pro rata basis and January 2, 2024 as the distribution date for the spin-off.
The spin-off will be effected pursuant to a distribution of shares of the common stock of Yuma Inc., a wholly-owned subsidiary of Flex (Yuma), to the holders of Flex ordinary shares, with each Flex shareholder as of the record date receiving one share of Yuma common stock for each Flex ordinary share held. Immediately following the distribution, Yuma will merge with and into a wholly-owned subsidiary of Nextracker. As consideration in the merger, Flex shareholders are expected to receive approximately 0.17 shares of Nextracker Class A common stock for every share of Yuma common stock held as of immediately prior to the merger. Flex shareholders will receive cash in lieu of fractional shares. Flex expects both the distribution and the merger to be completed on January 2, 2024.
Flex obtained the approval of the High Court of Singapore necessary to complete the distribution of Yuma common stock to Flex shareholders under applicable Singapore law.
As previously disclosed, Flex shareholders have approved the distribution of Yuma common stock at an extraordinary general meeting of Flex shareholders held on November 20, 2023. Accordingly, no further action is required by Flex shareholders in order to approve the distribution or receive shares of Nextracker Class A common stock.
The distribution and the merger will be effected pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), entered into by Flex and Nextracker on February 7, 2023, and disclosed in connection with Nextracker's previously completed initial public offering. The dates set forth above may be delayed subject to satisfaction or waiver of the conditions set forth in the Merger Agreement.
Flex shareholders are urged to consult their financial and tax advisors regarding the particular consequences of the distribution and merger in their situation, including the applicability and effect of any U.S. federal, state, local and non-U.S. tax laws.
Information regarding the distribution and merger can be found in the Registration Statement on Form S-4 filed by Nextracker with the Securities and Exchange Commission ("SEC") on October 25, 2023 and declared effective on October 27, 2023, and in other documents that Flex and Nextracker file with the SEC.
Share on:
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
Curtiss-Wright to Supply Turret Drive Stabilization Systems for U.S. Army XM30 Combat Vehicle Prototypes
10/16/2025 | BUSINESS WIRECurtiss-Wright Corporation announced that it has been selected by American Rheinmetall to provide its Turret Drive Stabilization System (TDSS) for the prototype phase of the U.S. Army’s XM30 Combat Vehicle (CV) program, which was recently approved to advance to Milestone B, the Engineering and Manufacturing Development (EMD) phase.
Episode 6 of Ultra HDI Podcast Series Explores Copper-filled Microvias in Advanced PCB Design and Fabrication
10/15/2025 | I-Connect007I-Connect007 has released Episode 6 of its acclaimed On the Line with... American Standard Circuits: Ultra High Density Interconnect (UHDI) podcast series. In this episode, “Copper Filling of Vias,” host Nolan Johnson once again welcomes John Johnson, Director of Quality and Advanced Technology at American Standard Circuits, for a deep dive into the pros and cons of copper plating microvias—from both the fabricator’s and designer’s perspectives.
American Standard Circuits Achieves Successful AS9100 Recertification
10/14/2025 | American Standard CircuitsAmerican Standard Circuits (ASC), a leading manufacturer of advanced printed circuit boards, proudly announces the successful completion of its AS9100 recertification audit. This milestone reaffirms ASC’s ongoing commitment to the highest levels of quality, reliability, and process control required to serve aerospace, defense, space, and other mission-critical industries.
Imec Launches 300mm GaN Program to Develop Advanced Power Devices and Reduce Manufacturing Costs
10/13/2025 | ImecImec, a world-leading research and innovation hub in nanoelectronics and digital technologies, welcomes AIXTRON, GlobalFoundries, KLA Corporation, Synopsys, and Veeco as first partners in its 300mm gallium-nitride (GaN) open innovation program track for low- and high-voltage power electronics applications.
Renesas Powers 800 Volt Direct Current AI Data Center Architecture with Next-Generation Power Semiconductors
10/13/2025 | RenesasRenesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, announced that it is supporting efficient power conversion and distribution for the 800 Volt Direct Current power architecture announced by NVIDIA, helping fuel the next wave of smarter, faster AI infrastructure.