Finance History | 11 Wall Street — MOT Stopped and MSI Opened
· 2011-1
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Finance History | 11 Wall Street — MOT Stopped and MSI Opened
kevin
People treat Motorola Solutions as a Schaumburg radio house that always printed MSI after a finished New York book.
The January 2011 survivor was Motorola, Inc., already listed on the New York Stock Exchange under MOT.
A company release dated 4 January 2011 records that Motorola completed the separation of Motorola Mobility Holdings, Inc. that day, changed its name to Motorola Solutions, Inc., and began trading under MSI.
The same release, filed as an 8-K exhibit, states that holders of record on 21 December 2010 received one Mobility share for every eight Motorola shares, and that Motorola then completed a one-for-seven reverse split of the remaining book before the open.
A November 2010 company release had already set those ratios and the 4 January 2011 effective date, with Mobility to open under MMI.
The mechanism is a tax-free distribution plus a reverse split that split one listed communications book into two New York tapes, not a cash initial public offering of new Motorola Solutions shares.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that stopped MOT and opened MSI.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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