Attention, those of you who own Flex Ltd. (FLEX): FLEX has completed a spinoff of a new company, Nextracker Inc. (NXT). More information on the spin-off can be found here. As part of this spinoff, holders of FLEX stock will receive 0.17 shares of NXT for every 1 share of FLEX owned on the date of record, December 29th, 2023.
Please note: Calls that were sold against FLEX last month stand a good chance of being exercised at present. If this does occur at options expiration on January 19th, the shares of NXT that you presently own will be called away as well, and no further action will be needed on your part.
On or after Trade Day in January, if you still own shares of FLEX and NXT, you will sell any remaining shares of NXT and apply the proceeds to your Stake as a dividend.
Lattco PRO/AutoPilot Clients: Please sell your extra shares of NXT first thing Monday morning. Once the shares are sold please contact us, and we will adjust your account for you.
If you have any questions, please don’t hesitate to contact us at support@snideradvisors.com or 1-888-6-SNIDER. We’ll be happy to walk you through the process.