Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Flex Announces Completion of Nextracker Spin-Off - Ink World Magazine

What are you searching for?

Sign in
Flexible Electronics News

Flex Announces Completion of Nextracker Spin-Off

Finishes the spin-off of all of its remaining interest in Nextracker Inc. to Flex shareholders on a pro rata basis.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

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 Dec. 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”.

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters