Mentioned:
HON +0.33% QNT +8.89%

There’s a new aerospace company coming soon to the Nasdaq. And it’s being spun out of Honeywell.

What’s happening:

  • Honeywell's (NASDAQ: HON) board of directors have officially approved the spin out of Honeywell Aerospace to become its own independent company

Why it matters:‍

  • Honeywell Aerospace is one of the largest providers of mission critical system and technologies used in the vast majority of commercial, defense and space aircraft globally

Going deeper:‍

  • Honeywell has publicly stated that Honeywell Aerospace will become a publicly traded company on the Nasdaq as part of the spin out and will provide existing Honeywell shareholders with a share distribution
  • Honeywell just recently made major waves when they spun out their quantum computing company Quantinuum (NASDAQ: QNT) which raised $1.6B USD in their IPO financing round

The intrigue:‍

  • More than $20B USD of debt and committed credit facilities have been secured by Honeywell Aerospace as part of their spin out from Honeywell

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