Spinoff Odds & Ends: October Record Dates for Qnity, Cortigent & Sony

Another week, some more odds and ends. More ends than odds, as two spinoff record date announcements mean we are close to completion on a few spinoffs

DuPont Announces Record Date For Qnity Spinoff

As we recently wrote about, DuPont(DD) will be spinning off its Qnity Electronics business, targeting a November 1 distribution date. The tax-free spinoff will trade under the ticker Q. This week, DuPont announced that the spinoff record date will be October 22. No word yet on distribution ratio.  We failed to note last time that despite presumably paying too much money to a naming consultant for the Qnity name, there already exists a Qnity which provides coaching and advisory services to salons and spas and which uses the Qnity.com domain.

Vivani Medical Announces Record Date For Cortigent Spinoff

Vivani Medical(VANI) announced back in the spring that they would be spinning off Cortigent. We missed it, not adding it to our tables and not writing about it until today. While it deserves a longer look(and I hope we will soon provide one), briefly, Vivani develops ultra-long lasting, miniature implantable drugs. Imagine, for example, an implantable Ozempic that lasts a year to replace injections. It is spinning off Cortigent which is developing brain implants to address blindness and paralyis among other things through neuromodulation.

Vivani announced a record date of October 8 for the spinoff last week. It has not announced a distribution date other than “late-2025”, nor a distribution ratio. It does expect the stock will trade on NASDAQ under the ticker CRGT.

Sony Aims To Complete Partial Spinoff Of Financial Group Next Week

Here is another one we have not mentioned until now. Sony Group(SONY) is spinning off Sony Financial Group over the next few days.See spinoff timeline below. The record date for the transaction is September 26 with the distribution date  of October 1

Sony will retain slightly less than 20% of Sony Financial Group in the partial spinoff, which Sony says is the first in Japan.  Sony’s IR site has a fantastic Q&A on the partial spinoff. Owners of ADRs in Sony Group will receive unsponsored ADRs in Sony Financial Group, but the ticker is not yet clear, nor is the distribution ratio.

Disclosure: The author holds no position in any stock mentioned