Technology
UP Fintech: Revenue Hits Three-Year High, Net Profit up 42% YoY, Client Assets Reach Record US$32.9 Billion
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2 years agoon
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HONG KONG and SINGAPORE and NEW YORK, June 5, 2024 /PRNewswire/ — UP Fintech Holding Limited (“UP Fintech” or the “Company”, NASDAQ: TIGR, and all its subsidiaries and consolidated entities), a leading online brokerage firm committed to redefining global investing through next-generation technologies, today announced its unaudited financial results for the first quarter ended March 31, 2024. In the first quarter, the company achieved a total revenue of US$78.9 million, marking a 19% year-over-year (YoY) increase and achieving a nearly three-year high. Non-GAAP net income attributable to UP Fintech was US$14.7 million, 12.9 times increase quarter-over-quarter (QoQ) and a YoY surge of 42.4%.
In the first quarter of 2024, the Company added 51,700 new global account holders, an increase of 8.1% quarter-over-quarter, bringing the total number of global accounts to 2.25 million. 28,800 newly funded accounts were added, driving the total number of funded accounts to 933,400, a YoY increase of 15%. As of the end of May, the number of newly funded clients in the second quarter has already exceeded the first quarter’s increase. Additionally, market trading activity increased in the first quarter, with the Company’s total trading volume growing 27.4% YoY to US$85.4 billion. Net asset inflow remained strong, reaching US$5.3 billion for the quarter, which pushed total client assets up by 7.4% QoQ and 103.8% YoY to an all-time high of US$32.9 billion. Over 75% of total client assets now come from clients in markets such as Singapore, Australia, New Zealand, and the US.
UP Fintech’s founder and CEO, Wu Tianhua, stated, “This quarter, we have continued to deepen our presence in markets such as Singapore and Hong Kong. In Singapore, we launched the first local debit card that rewards users with fractional shares from their purchases, aiming to help novice investors participate in the financial markets and increase their investment awareness. We also introduced the Cash Boost trading account, becoming the first tech broker in Singapore to support contra trading strategies. Eligible clients will be able to trade US, Singapore, and Hong Kong stocks and ETFs without pre-depositing funds, thus improving capital efficiency. In Hong Kong, we have pioneered virtual asset trading services for professional investors, allowing them to trade stocks, ETFs, options, futures, funds, and virtual assets all within one app, facilitating global asset allocation. We are applying to extend this service to retail investors, leading the way in enhancing the tech brokerage experience in Hong Kong.”
Launched SG’s first debit card that rewards fractional shares
HK: record US$18,000 net asset inflow per newly funded client
At its headquarters in Singapore, the Company was the first among tech brokers to reach the milestone of one million users. The company continues to deepen its product and service offerings, driving quarter-over-quarter growth in client assets for five consecutive quarters. Client quality remains high, with the average net asset inflow per new funded client in Q1 staying at US$14,000.
At the end of February, the Company launched the “Tiger BOSS Debit Card” in partnership*, the first debit card in Singapore that offers instant rewards in the form of cashback in fractional shares of popular stocks with every daily spend. Supporting customers with an entirely online application process and fast card issuance, the BOSS Card also provides competitive foreign exchange rates and can seamlessly integrate with all major Visa-supported e-wallets for contactless payments, catering to users’ demand for hassle-free payment solutions. For novice investors grappling with limited capital, the prospect of investing in renowned company stocks often appears daunting. However, through the incentivization of fractional shares, the Tiger BOSS Debit Card opens doors for all investors to participate in the investment landscape, nurturing greater awareness and confidence in financial markets.
For the more seasoned traders in the local market, the Company has also launched the Cash Boost Account tailored for the Singapore market after undergoing internal testing in the first quarter. This account marks the Company as the first fintech broker in the market to provide contra facilities. Through the Cash Boost Account, investors gain access to trading limits and can execute trades without requiring any initial capital. This capability empowers them to seize investment opportunities promptly and enhance capital utilization efficiency.
In Hong Kong, the Company has attracted more high-quality clients through its cost-effective global trading services. During the period, the client asset was up 40% quarter over quarter, with the average net asset inflow of local newly funded clients reaching a record high of US$18,000. As a designated securities broker for the Retail Bond issued by the Airport Authority Hong Kong, the Company introduces the “13 waiver” promotion, which waived charges including subscription fees, allocation fees, and margin interest. This initiative provides Hong Kong clients with accessible subscription opportunities, receiving positive feedback.
Following the upgrade of the Type 1 License by the Hong Kong Securities and Futures Commission (SFC) to include virtual asset trading service for professional investors in January, the Company has become one of the pioneering brokers in Hong Kong to support trading of virtual assets alongside traditional financial assets such as Hong Kong and US stocks, options, futures, ETFs, all within a single app. The Company is applying to expand the virtual asset dealing service to retail investors, subject to the authority’s approval.
Additionally, Tiger has obtained a Type 9 license from the SFC, authorizing the Company to provide asset management service, including discretionary accounts service to both retail clients and professional investors and asset management service to collective investment schemes offered to professional investors only.
With the bolstering of brand influence, the Company has garnered increased trust from investors in Australia, witnessing a 20.5% uptick in trading accounts in Q1 compared to the previous quarter, and the net inflow of clients was nearly triple that of the previous quarter. As one of the few local tech brokers supporting US stock options trading, the number of orders for US stock options trading surged by 35.1% during the period QoQ. The company collaborated with local financial media technology firm Grafa to integrate AI-driven data, news, and analysis into Tiger Trade, offering investors more precise market insights. Moreover, by co-hosting recruitment fairs, seminars, and other events with the University of Western Australia, the Company further solidifies its commitment to localized development, supporting the long-term growth of local financial technology talents and industries.
In New Zealand, the Company saw an impressive growth, with a QoQ increase of 77% in newly funded clients and 87.9% increase in new trading clients in the first quarter. The Company has also been prioritizing investor education, spreading financial knowledge through various mediums such as graphics, videos, and more.
24-Hour US stock trading launched: 500+ stocks and ETFs available
Tiger Vault surges in HK: user base doubled
In the first quarter, commission income reached US$27.8 million and interest-related income climbed to US$46.7 million, marking a QoQ increase of approximately 8.2%.
The Company continues to enhance the one-stop global investment experience at Tiger Trade, including adding cryptocurrency market data, US and HK virtual asset spot ETF trading**. 24-hour US stock trading is now available to users, expected to support 500+ stocks and ETFs, eliminating time zone constraints. Options trading has been upgraded, introducing US options early exercise and do-not-exercise feature, which enhance strategy flexibility. With comprehensive options data and new features such as multi-leg orders and options rolling, client US stock options trading saw a 36.2% increase in average weekly orders and doubled transaction amounts compared to the previous quarter. More users are engaging with Trading Feed, a feature facilitating investing inspiration, with a 205.7% QoQ increase in subscribers and an 80.4% increase in daily trading feed posts. The system now intelligently suggests relevant sharers based on user preferences, ensuring personalized and convenient content discovery.
In the first quarter, both AUM and the number of users of the Company’s wealth management services doubled YoY. The Company’s cash management service, “Tiger Vault,” saw increased popularity, particularly in Hong Kong, with a 92.5% rise in number of users QoQ. The Company launched a US Treasury section in the app, offering a selection of the highest-yield US Treasuries and ETFs based on maturity, enabling flexible investment choices. Compared to last quarter, the number of clients trading US Treasuries has nearly doubled, and AUM has increased more than sixfold. In Singapore, the Company introduced structured notes products such as Fixed Coupon Notes, supported by well-known financial institutions, offering various options for tailored investment strategies with instant quotes. Tiger Wealth has also been upgraded to a primary tab in the Tiger Trade app, providing easy access to money market funds, fund rankings, ETFs, US Treasuries, and notes, making asset allocation more convenient for users.
Ranked third among HK IPO underwriters
UponeShare SaaS revenue doubled YoY
During the reporting period, UP Fintech’s other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), amounted to US$4.5 million.
In terms of investment banking, the Company ranked third among the bookrunners for Hong Kong IPOs during the period, underwriting IPOs for four companies including Changjiu Holdings Limited, Concord Healthcare, and QYUNS-B. Additionally, leveraging its outstanding transaction execution capabilities, it facilitated three block trades and three share repurchase transactions for several Hong Kong and US-listed companies.
On the ESOP front, the Company’s brand UponeShare added 22 new clients this quarter, bringing the total number of serviced enterprise clients to 557. The average consulting fee for equity incentive plans increased by 33.6% year-over-year, highlighting the service value and market competitiveness. Additionally, due to high client renewal rates and increased SaaS annual fees, the company’s SaaS revenue surged by 159.9% YoY and 42.3% QoQ.
This quarter, Tiger Enterprise Account welcomed companies such as Fourth Paradigm and Guotai Junan International, bringing the total number of clients to 428. The “2023 Tiger Enterprise Account Annual List” was released, recognizing 40 companies across categories like “Most Popular” and “Communication Innovation.” Through these initiatives, the Company facilitates communication between leading enterprises and global investors, fueling industry growth.
*Tiger Brokers (Singapore) Pte Ltd has partnered with a local licensed partner which is regulated as a Major Payment Institution by The Monetary Authority of Singapore (MAS) to provide card issuance and account issuing services. License: PS20200413.
**Available in certain markets
View original content:https://www.prnewswire.com/news-releases/up-fintech-revenue-hits-three-year-high-net-profit-up-42-yoy-client-assets-reach-record-us32-9-billion-302164543.html
SOURCE UP Fintech Holding Limited
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Technology
Keeper Security Introduces Universal Secrets Sync to Eliminate Credential Drift Across Cloud Environments
Published
55 minutes agoon
June 15, 2026By
New KeeperPAM capability automatically distributes rotated secrets to AWS, Azure and Google Cloud in a single rotation event with no manual steps or drift
CHICAGO, June 15, 2026 /PRNewswire/ — Keeper Security, the leading zero-trust and zero-knowledge identity security and Privileged Access Management (PAM) platform, is announcing the availability of Keeper Universal Secrets Sync, which launched on June 4th. The new capability within KeeperPAM® automatically distributes credentials and secrets to external secrets managers and cloud platforms the moment they rotate, closing the gap between stored secrets and what’s actually running in production.
For organizations managing secrets across multi-cloud environments, the risk is not only exposure – it’s drift. When credentials stored in a PAM platform fall out of sync with what is running in production pipelines, the consequences range from access failures and delayed incident response to shadow secrets that carry active privileges no security team can see, govern or revoke. Global research has found that 86% of IT and security leaders agree their organization would benefit from a PAM solution, yet even among organizations with PAM in place, 46% still struggle to manage privileged access consistently across cloud and hybrid environments. Universal Secrets Sync closes that gap.
Automatic Distribution Across Every Cloud Target
Keeper Universal Secrets Sync monitors one or more Keeper Secrets Manager shared folders and automatically distributes the contents to configured cloud targets, including AWS Secrets Manager, Azure Key Vault and Google Cloud Secret Manager. When a secret rotates in KeeperPAM, every cloud environment receives the updated credential automatically, with no manual exports, no custom integration scripts and no reconfiguration after rotation required.
Additional capabilities include:
Automatic sync – Any change to a secret in a linked shared folder triggers an automatic push to all connected cloud targets. No manual action is required; the Gateway processes and distributes the update in the background.Dry Run mode – Security teams preview exactly what will change before any secret is distributed, making Universal Secrets Sync compatible with change control requirements and environments that require additional oversight.Multi-folder sync – Secrets from multiple Keeper shared folders can be synchronized in a single configuration.Sync Identity – Administrators can specify a dedicated IAM role, managed identity or service account, with least-privilege access to the secrets store, for the Keeper Gateway to assume during sync operations.Error recovery – Missing secrets and permission errors are surfaced automatically, reducing the risk of sync failures going undetected.
“Secrets drift is one of the most underappreciated risks in enterprise security programs,” said Craig Lurey, CTO and Co-founder of Keeper Security. “Organizations unknowingly leave stale credentials active in downstream cloud environments when distribution is manual. Universal Secrets Sync makes distribution automatic and auditable. Every secret rotation updates to all connected targets simultaneously, with Dry Run mode giving teams full visibility into what will change before anything is written.”
Flexible Retrieval for Every Workload
Universal Secrets Sync gives developers the right access path for each use case. Cloud-native applications that demand high throughput and low latency continue reading directly from AWS Secrets Manager, Azure Key Vault or Google Cloud Secret Manager using familiar native SDKs and IAM controls – ideal for services performing hundreds of thousands or millions of retrievals per day. For CI/CD pipelines, scripts, internal tools and services running outside the cloud, developers retrieve secrets directly from Keeper Secrets Manager via the KSM SDK or CLI, with full zero-knowledge protection end-to-end. The result is a single source of truth with two complementary access patterns – fast, native retrieval where scale matters, and direct KSM access where reach and zero-knowledge control matter most.
Keeper Universal Secrets Sync is available now as part of KeeperPAM and is included in existing KeeperPAM licenses. Existing customers should contact their Keeper customer success manager to enable this feature. New customers can request a demo at keepersecurity.com.
About Keeper Security
Keeper Security is the leading zero-trust and zero-knowledge identity security solution, trusted by millions of people and thousands of organizations globally. KeeperPAM® is Keeper’s privileged access management platform that unifies password and passkey management, secrets management, privileged session management and endpoint privilege management in a single cloud-native platform, protected with quantum-resistant encryption. KeeperAI delivers real-time, AI-native threat detection across every privileged session. As AI agents proliferate and identity becomes the defining attack surface, Keeper governs access for humans, machines, non-human identities and AI agents, serving as the unified control plane for access, compliance and visibility across the enterprise. For more information, visit KeeperSecurity.com.
Learn more: KeeperSecurity.com
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Media Contact
Katherine Benfield
ICR for Keeper Security
KeeperSecurity@icrinc.com
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SOURCE Keeper Security
Technology
Tripadvisor Enters into Agreement to Sell TheFork to American Express for $700 Million
Published
55 minutes agoon
June 15, 2026By
Transaction highlights the value of Tripadvisor’s portfolio and enables greater focus on experiences
NEEDHAM, Mass., June 15, 2026 /PRNewswire/ — Tripadvisor, Inc. (NASDAQ: TRIP) (the “Company”) today announced it has entered into a put option agreement to sell TheFork, its online restaurant reservation and management platform in Europe, to American Express for $700 million in an all-cash transaction.
The agreement follows Tripadvisor’s February 2026 announcement that it would explore strategic alternatives for TheFork. It recognizes the value created in the business over more than a decade, and allows Tripadvisor to focus even more fully on its Experiences strategy.
“This agreement reflects two things we believe deeply: the tangible value across Tripadvisor Group’s portfolio and our ongoing focus on the opportunity we see ahead in Experiences,” said Matt Goldberg, CEO, Tripadvisor Group. “We’re proud of what we’ve built with TheFork and grateful for the team’s work to secure a leading position in European dining. I’m confident that we’ve found an ideal home for them and look forward to expanding our relationship with American Express in the future.”
The transaction is expected to provide Tripadvisor with significant flexibility to accelerate its capital return policy, maintain a well-capitalized balance sheet, and continue investing in its Experiences business to drive shareholder value. The companies also see opportunities to build on their existing relationship and deliver additional value to travelers over time.
“In addition to welcoming TheFork to the American Express family, we’re excited about the opportunity to deepen our relationship with Tripadvisor going forward,” said Stephen Squeri, Chairman and CEO, American Express. “By building on our shared strengths across dining, travel, and experiences, we have opportunities to create even greater value for customers and partners.”
The proposed transaction is expected to close before the end of 2026, subject to labor consultation and customary closing conditions, including regulatory approvals. The Company anticipates minimal tax cost from the sale of TheFork, with net proceeds expected to closely approximate the gross proceeds. Potential uses of proceeds include share repurchases, debt paydown, or inorganic investment within the experiences category.
As of the first quarter of 2026, the Company’s last reported period, the last twelve-month revenue for TheFork was $232 million and adjusted EBITDA for TheFork segment for the same period was $28 million.
Advisors
Goldman Sachs served as financial advisor and Goodwin Procter LLP and Reed Smith LLP served as legal advisors to Tripadvisor and TheFork.
Note on Segment Adjusted EBITDA
We refer to segment adjusted EBITDA as a measure of segment profitability because it is the measure of profit or loss for our reportable segments provided to our Chief Operating Decision Maker (CODM) in accordance with U.S. GAAP for segment reporting. Segment adjusted EBITDA is a key performance measure used by our CODM and Board of Directors to evaluate our individual operating segments. We define adjusted EBITDA as net income (loss) plus: (1) (provision) benefit for income taxes; (2) other income (expense), net; (3) depreciation and amortization; (4) stock-based compensation; (5) goodwill, long-lived asset, and intangible asset impairments; (6) legal reserves, settlements and other (including indirect tax reserves related to audit settlements and the impact of one-time changes resulting from enacted indirect tax legislation); (7) restructuring and other related reorganization costs; (8) transaction related expenses (including non-operational costs related to significant shareholder activism, which includes third-party advisory, legal, and other professional fees); and (9) non-recurring expenses and income unusual in nature or infrequently occurring.
About Tripadvisor, Inc.
The Tripadvisor Group connects people to experiences worth sharing, and aims to be the world’s most trusted source for travel and experiences. We leverage our brands, technology, and capabilities to connect our global audience with partners through rich content, travel guidance, and two-sided marketplaces for experiences, restaurants, and other travel categories such as hotels. The subsidiaries of Tripadvisor, Inc. (Nasdaq: TRIP), include a portfolio of travel brands and businesses, including Tripadvisor, Viator, and TheFork.
Cautionary Note Regarding Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements regarding the proposed sale of Tripadvisor’s TheFork business to American Express, the anticipated benefits, related agreements and timing of the transaction and potential uses of proceeds. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially.
Key factors that could cause such differences include: whether or when the required employee works council consultation processes are completed; the ability of the parties to successfully execute a definitive purchase agreement following exercise of the put option; the satisfaction of closing conditions, including obtaining regulatory and antitrust approvals; difficulties or unexpected costs relating to segregating the integrated technology data and platform of TheFork from our retained operations and anticipated benefits for Tripadvisor as a result of the proposed transaction do not fully materialize; risks related to disruption of management time; the operational risk of running our core business without the integrated data platform of TheFork; and the potential for material adjustments to net working capital or unforeseen tax consequences related to the divestiture. Tripadvisor expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect any change in Tripadvisor’s expectations with regard thereto or any change in events, conditions or circumstances on which such statement is based. Please refer to the publicly filed documents of Tripadvisor, including its most recent Forms 10-K and 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports Tripadvisor subsequently filed with the SEC, for additional information about Tripadvisor and about the risks and uncertainties related to Tripadvisor’s business which may affect the statements in this release.
TRIP-G
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/tripadvisor-enters-into-agreement-to-sell-thefork-to-american-express-for-700-million-302799962.html
Technology
HONEYWELL BOARD OF DIRECTORS APPROVES SPIN-OFF OF HONEYWELL AEROSPACE
Published
55 minutes agoon
June 15, 2026By
Spin-off distribution is expected to occur on June 29, 2026Honeywell Aerospace will be a leading global tier-1 aerospace and defense supplier of mission critical systems and technologiesHoneywell Technologies will be a global leader of the industrial world’s transition from automation to autonomy
CHARLOTTE, N.C., June 15, 2026 /PRNewswire/ — Honeywell (NASDAQ: HON) today announced that its Board of Directors has formally approved the planned spin-off of Honeywell Aerospace. This approval represents a significant milestone in the separation process, which remains on track for completion on June 29, 2026. Following the completion of the spin-off, the remaining pure-play automation company will be known as Honeywell Technologies.
At 12:01 a.m. New York City time on June 29, 2026 (the “Distribution Date”), Honeywell will distribute all of the issued and outstanding shares of Honeywell Aerospace common stock pro rata to Honeywell shareowners of record on June 15, 2026 (the “Record Date”), on the basis of one share of Honeywell Aerospace common stock for every two shares of Honeywell common stock held as of the close of business on the Record Date. The distribution is subject to the satisfaction or waiver of certain conditions, as set forth in the form of Separation and Distribution Agreement filed with the U.S. Securities and Exchange Commission (“SEC”) as part of Honeywell Aerospace’s registration statement on Form 10, which was declared effective by the SEC on June 11, 2026.
“Today’s announcement clears the path to establishing two independent industry leaders in Honeywell Aerospace and Honeywell Technologies and also reflects our significant portfolio transformation over the past three years,” said Vimal Kapur, Chairman and CEO of Honeywell. “With clear strategies and growth drivers that build on Honeywell’s century-long legacy, we are confident that both companies will be well-positioned to maximize long-term value for customers, employees and shareowners.”
Honeywell Aerospace common stock is expected to begin trading on the Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbol “HONAV” on a “when-issued” basis on or about June 15, 2026. Honeywell Aerospace common stock is expected to begin “regular-way” trading on Nasdaq under the ticker symbol “HONA” on June 29, 2026. Following the separation, Honeywell Technologies will continue to trade on the Nasdaq under the ticker “HON.”
Beginning on or about June 15, 2026 and continuing through June 26, 2026, it is expected that there will be two markets in Honeywell common stock on Nasdaq: a “regular-way” market under Honeywell’s current ticker symbol “HON”, in which Honeywell shares will trade with the right to receive shares of Honeywell Aerospace common stock on the Distribution Date, and an “ex distribution” market under the ticker symbol “HONIV”, in which Honeywell shares will trade without the right to receive shares of Honeywell Aerospace common stock on the Distribution Date.
As previously announced, a 1-for-2 reverse stock split of Honeywell Technologies common stock will immediately follow the spin-off along with a proportionate reduction in the Company’s number of authorized shares of common stock, subject to and contingent on the completion of the Honeywell Aerospace spin-off.
About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world, with a portfolio that is underpinned by our Honeywell Accelerator operating system and Honeywell Forge platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations for aerospace, building automation, industrial automation, process automation, and process technology that help make the world smarter and safer as well as more sustainable.
Additional Information
Honeywell uses our Investor Relations website, www.honeywell.com/investor, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media.
Forward-Looking Statements
Certain statements in this release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future. They are based on management’s assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. Some of the important factors that could cause Honeywell’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the ability of Honeywell to effect the spin-off transaction described above and to meet the conditions related thereto; (ii) the possibility that the spin-off transaction will not be completed within the anticipated time period or at all; (iii) the possibility that the spin-off transaction will not achieve its intended benefits; (iv) the impact of the spin-off transaction on Honeywell’s businesses and the risk that the spin-off transaction may be more difficult, time-consuming or costly than expected, including the impact on Honeywell’s resources, systems, procedures and controls, diversion of management’s attention and the impact and possible disruption of existing relationships with regulators, customers, suppliers, employees and other business counterparties; (v) the possibility of disruption, including disputes, litigation or unanticipated costs, in connection with the spin-off transaction; (vi) the uncertainty of the expected financial performance of Honeywell or Honeywell Aerospace following completion of the spin-off transaction; (vii) negative effects of the announcement or pendency of the spin-off transaction on the market price of Honeywell’s securities and/or on the financial performance of Honeywell; (viii) the ability to achieve anticipated capital structures in connection with the spin-off transaction, including the future availability of credit and factors that may affect such availability; (ix) the ability to achieve anticipated tax treatments in connection with the spin-off transaction and future, if any, divestitures, mergers, acquisitions and other portfolio changes and the impact of changes in relevant tax and other laws; (x) the failure to realize expected benefits and effectively manage and achieve anticipated synergies and operational efficiencies in connection with the spin-off transaction and completed and future, if any, divestitures, mergers, acquisitions, and other portfolio management, productivity and infrastructure actions; and (xi) the possibility that the reverse stock split and authorized share reduction will not be completed within the anticipated time period or at all, including due to a failure of the spin-off transaction to occur. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the SEC. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.
Honeywell Contacts:
Media
Investor Relations
Stacey Jones
Mark Macaluso
(980) 378-6258
(704) 627-6118
Honeywell Aerospace Contacts:
Media
Investor Relations
Brian Grace
Sean Meakim
(602) 897-0205
(704) 627-6200
View original content:https://www.prnewswire.com/news-releases/honeywell-board-of-directors-approves-spin-off-of-honeywell-aerospace-302799898.html
SOURCE Honeywell
Keeper Security Introduces Universal Secrets Sync to Eliminate Credential Drift Across Cloud Environments
Tripadvisor Enters into Agreement to Sell TheFork to American Express for $700 Million
HONEYWELL BOARD OF DIRECTORS APPROVES SPIN-OFF OF HONEYWELL AEROSPACE
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