Does it look to start with this spinoff date?
7 replies (most recent on top)
SOLV is sinking to $60 soon. Not a good start to this new spin off
@2fjq+1rOHy7gv Yes assuming they held them on 4/1 they would end up still having 100 shares of 3M stock but also 25 shares of Solv.
On most brokers you can do MMM+SOLV/4 to see the old 3M share price. Price of new 3M shares is going to be lower then the old 3M share price because of the spin off of Solv. But looking now the value of the MMM shares + SOLV shares you get post spin off is slightly higher then what you had pre spin off.
I sold my shares long ago. How did it split? So if someone had 100 3M shares before spin, what do they have now? does it stay 100 shares, but they also pick up 25 shares of Solv?
I am surprised that people thought they could sell their MMM shares at the pre-split price before 4/1, and then also get SOLV shares on 4/1 from MMM shares they no longer owned. Seriously, y'all should be smarter than that.
Because you sold the shares and do not hold them that's why you don't get them. Heck you could have bought 3M shares on the 28th as long as you held them on 4/1 you get SOLV shares. Because you acquired the right to the SOLV shares from the person that sold there shares before 4/1 who lost there right to receive the shares. Only people that hold 3M shares on 4/1 get the SOLV shares for those 3M shares. If you sold before then you are out of luck.
This information was buried in the disclosure document. I also sold shares between the record date and distribution date and lost the right to my shares of SOLV. Essentially, if you sold any shares of MMM between 3/18 and 4/1, you lost your right to receive shares of SOLV connected to those MMM shares.
"Therefore, if you sell shares of 3M common stock in the “regular-way” market up to and including through the distribution date, you will be selling your right to receive shares of Solventum common stock in the distribution. If you own 3M common stock at the close of business on the record date and sell those shares on the “ex-distribution” market up to and including through the distribution date, you will receive the shares of Solventum common stock that you are entitled to receive pursuant to your ownership of shares of 3M common stock as of the record date. "
What I want to know is why, if the record date for the spin shares was March 18th, I didn't receive any SOLV for the MMM that I sold on March 20.