29 September 2023
Aramark announced that it expects to complete previously announced spin-off of its uniforms and workplace supplies business, which will be names Vestis on September 30th, 2023
Holders of Aramark common stock will be entitled to receive one share of Vestis common stock for every two shares of Aramark common stock
Aramark expects that “when-issued” trading market for Vestis shares will begin on the New York Stock Exchange on or about September 27th, 2023 under the symbol “VSTS WI”
Aramark also expects that “regular-way” trading in Vestis shares will begin on October 2nd, 2023 under the symbol “VSTS”
On September 28th, 2023 S&P Dow Jones Indexes announced that Vestis will be added to the S&P MidCap 400 index effective prior to the open of trading on Monday, October 2nd 2023.
Etalon Capital, Inc. provides independent research with a focus on event-driven value equities to institutional investors. Events include M&As, spin-offs, activist investors, IPOs, SPACs, buybacks, recapitalizations, asset sales, hedge fund holdings, and other significant corporate transactions. These are diversified by sources of risk as well as risk/return profiles. We generate an edge with a unique research process, combining value, focus on corporate events, and story investing principles.