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spin·off or spin-off

1. A divestiture by a corporation of a division or subsidiary by issuing to stockholders


shares in a new company set up to continue the operations of the division or
subsidiary.
2. The new company formed by such a divestiture.

Spinoff

A new, independent company created through selling or distributing new shares for an
existing part of another company.

Spinoffs may be done through a rights offering.

spin-off

A transfer (downstream) of corporate assets to a subsidiary in return for a distribution (as


property dividend) to the shareholders of the corporation of all of the stock or controlling
stock of the subsidiary without surrender of any stock by the shareholders of the
corporation A D reorganization involving a distribution of the stock of another company
to the corporation's shareholders; also A new company created by such a distribution
compare split-off split-up

Split-Off
Exchanging the stock of a subsidiary for shares in a parent company.

This is rare situation.

See Also: Carveout, Spinoff, Split-up

split-off

A transfer (downstream) of corporate assets to a subsidiary involving the surrender of a


part of the stock owned by the corporation's shareholders in exchange for controlling
stock of the subsidiary. A D reorganization involving a distribution of part but not all of a
corporation's stock for a subsidiary's stock; also A new company created by such a
distribution compare spin-off split-up

Split-Up
Exchanging the stock of two or more subsidiary companies for all of the parent
company's stock, followed by the liquidation of the parent company.
A split-up is an effective way to break a company into two or more independent
companies.

See Also: Carveout, Spinoff, Split-off

split-up

A transfer (downstream) by a corporation of all its assets in complete liquidation to two


or more subsidiaries that involves the surrender of all stock by the shareholders in
exchange for new stock in the transferee corporations. A D reorganization involving a
distribution of the stock of two or more subsidiaries to the shareholders who in return
surrender all their stock in the distributing corporation compare spin-off split-off

Carve-out
1. Sometimes known as a partial spinoff, a carve out occurs when a parent company sells
a minority (usually 20% or less) stake in a subsidiary for an IPO or rights offering.
2. Where an established brick-and-mortar company hooks up with venture investors and a
new management team to launch an Internet spinoff.
In most cases the parent company will spinoff the remaining interests to existing
shareholders at a later date when the stock price is much higher. Also known as a
"carveout" or an "equity carve out."