Honeywell Spinoff - Solstice

SOLC

Friday 10/17 is the date of record for the first of the Honeywell spinoffs, Solstice. To be clear, that doesn’t mean you can’t get shares of Solstice (symbol: SOLS) after friday but before it spins. Honeywell shares will trade either ‘with bills due’ or ‘due bills’ which means that the base shares, in this case Honeywell, will come with the spin-off shares until they become its own trading entity.

SOLS will actually start trading sometime early the week of 10/20 under the symbol SOLSV or SOLSWI (tbd), before it is completely separate from Honeywell. The V or WI stands for ‘when issued’ or ‘when distributed’. Which is code for a temporary ticker before the official completion of the spin. This symbol will not be extremely liquid, but will trade as funds and arbs will use that to hedge their Honeywell/Solstice position.

Solstice had their first official investor day the first week of October, which they laid out the value proposition for the new company. There’s a lot to like here. The entire investor deck can be found here.