WILMINGTON, Del., Oct. 15, 2025
/PRNewswire/ -- DuPont (NYSE: DD) today announced that its Board of
Directors has approved the previously announced separation of its
Electronics business, Qnity Electronics, Inc. ("Qnity"). To effect
the separation, the DuPont Board of Directors declared a pro rata
dividend of all of the issued and outstanding shares of common stock of
Qnity. The dividend is expected to occur on November 1, 2025, the
distribution date, to DuPont stockholders of record as of the close of
business on October 22, 2025, the record date. Effective as of the
distribution date, each DuPont stockholder will receive one (1) share of
Qnity common stock for every two (2) shares of DuPont common stock held
on the record date. Registered DuPont stockholders will receive cash in
lieu of any fractional shares of Qnity common stock.
In connection with the separation and the distribution, the Qnity
Board of Directors today declared a cash dividend of approximately
$4.122 billion, plus the pre-funded interest deposit of approximately
$66 million made by DuPont in connection with the debt obligations
incurred by Qnity, plus any investment returns on the amounts held in
escrow in respect of such debt obligations, payable
to DuPont.
"Today's announcement marks a significant milestone in successfully
separating Qnity on November 1," said Lori Koch, chief executive
officer of DuPont. "We are unlocking new opportunities for both
organizations to thrive independently, while remaining committed to
delivering exceptional value to our shareholders, customers, and
employees."
The New York Stock Exchange (the "NYSE") has authorized the Qnity common
stock for listing and has advised that "when-issued" trading is
expected to begin on October 27, 2025, under the symbol "Q WI", with such
trading ending at the close of business on October 31, 2025. Following the
separation and distribution, Qnity common stock is expected to begin
"regular way" trading on the NYSE on Monday, November 3, 2025 under
the symbol "Q".
Beginning on October 27, 2025, and continuing through October 31, 2025, it
is expected that there will be two markets in DuPont common stock on the
NYSE: a "regular-way" market under the symbol "DD" in which DuPont
shares will trade with the right to receive shares of Qnity common stock
in the distribution, and an "ex-distribution market" under the symbol
"DD WI" in which DuPont shares will trade without the right to
receive shares of Qnity common stock in the distribution. If you sell
DuPont common stock in the "regular-way" market on or prior to the last
trading day prior to the distribution date, you will be selling your right
to receive Qnity common stock in the distribution.
No action is required by DuPont stockholders to receive shares of Qnity
common stock in the distribution. DuPont stockholders are encouraged to
consult with their financial and tax advisors regarding the specific
implications of the distribution, including the specific implications of
buying or selling DuPont common stock on or before the distribution date
and the U.S. federal, state and local or foreign tax consequences, as
applicable, of the distribution.
The distribution is subject to the satisfaction or waiver of certain
customary conditions, which DuPont expects will be satisfied by the
distribution date.
About DuPont
DuPont (NYSE: DD) is a global innovation
leader with technology-based materials and solutions that help transform
industries and everyday life. DuPont's employees apply diverse science and
expertise to help customers advance their best ideas and deliver essential
innovations in key markets including electronics, transportation,
construction, water, healthcare and worker safety. More information about
the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations
section of the website at investors.dupont.com.
DuPont™, the DuPont Oval Logo, and all trademarks and service marks
denoted with ™,SM or® are owned by affiliates of
DuPont de Nemours, Inc. unless otherwise noted.
About Qnity
Qnity™, DuPont's electronics business, is a
premier technology solutions provider across the semiconductor value
chain, empowering AI, high performance computing, and advanced
connectivity. From solutions for semiconductor chip manufacturing, to
enabling high-speed transmission within complex electronic systems, our
high-performance materials and integration expertise make tomorrow's
technologies possible. More information about Qnity, its businesses and
solutions can be found at www.qnityelectronics.com. Investors can access information included on the Investor Relations
section of the website at ir.qnityelectronics.com.
Qnity™, the Qnity Node Logo, and all products, unless otherwise noted,
denoted with ™ or® are trademarks, trade names or
registered trademarks of affiliates of Qnity Electronics, Inc.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this document may be considered forward-looking
statements, such as statements regarding the Separation and Distribution
(defined below). Forward-looking statements often contain words such as
"expect", "anticipate", "intend", "plan", "believe", "seek", "see",
"will", "would", "target", "outlook", "stabilization", "confident",
"preliminary", "initial" and similar expressions and variations or
negatives of these words. All statements, other than statements of
historical fact, are forward-looking statements. Forward-looking
statements address matters that are, to varying degrees, uncertain and
subject to risks, uncertainties, and assumptions, many of which are beyond
DuPont's and/or Qnity's control, that could cause actual results to differ
materially from those expressed in any forward-looking statements.
Some of the important factors that could cause DuPont's actual results to
differ materially from those projected in any such forward-looking
statements include, but are not limited to, the successful completion of
the separation of the electronics business (the "Separation") by way of
the distribution to DuPont's stockholders of record as of October 22,
2025 of all the issued and outstanding common stock of Qnity Electronics,
Inc. on November 1, 2025, (the "Distribution"), including achievement of
the intended tax treatment; the possibility of disputes, litigation or
unanticipated costs in connection with the Separation and Distribution;
and DuPont's success in achieving its intended post-Separation capital
structure. Additional information concerning the risks, uncertainties and
assumptions can be found in DuPont's filings with the U.S. Securities
and Exchange Commission (the "SEC"), including its Annual Report on Form
10-K for the year ended December 31, 2024, subsequent current reports on
Form 8-K and quarterly reports on Form 10-Q and other filings.
Some of the important factors that could cause Qnity's actual outcomes and
results to differ materially from those projected in any such
forward-looking statements include, but are not limited to: the ability of
Qnity to effect the Separation and to meet the conditions related thereto;
the possibility that the Separation will not be completed within the
anticipated time period or at all; the possibility that the Separation
will not achieve its intended benefits; the impact of the Separation on
Qnity's businesses and the risk that the Separation may be more difficult,
time-consuming or costly than expected, including the impact on Qnity's
resources, systems, procedures and controls, diversion of management's
attention and the impact and possible disruption of existing relationships
with customers, suppliers, employees and other business counterparties;
the negative effects of the announcement or pendency of the Separation on
the financial performance of Qnity; the ability to achieve anticipated
capital structures in connection with the Separation, including the future
availability of credit and factors that may affect such availability;
other risk factors discussed in the final information statement, dated as
of October 15, 2025 (the "Information Statement"), attached as exhibit
99.1 to Qnity's current report on Form 8-K filed with the SEC on October
15, 2025. Unlisted factors may present significant additional obstacles to
the realization of forward-looking statements. Additional information
concerning these and other factors can be found in Qnity's filings with
the SEC, including the Information Statement. Consequences of material
differences in results as compared with those anticipated in the
forward-looking statements could include, among other things, business or
supply chain disruption, operational problems, financial loss, legal
liability to third parties and similar risks, any of which could have a
material adverse effect on Qnity's financial condition, results of
operations, credit rating or liquidity.
Forward-looking statements are not guarantees of future results. You
should not place undue reliance on forward-looking statements, which speak
only as of the date they are made. Neither DuPont nor Qnity assumes any
obligation to publicly provide revisions or updates to any forward-looking
statements whether as a result of new information, future developments or
otherwise, should circumstances change, except as otherwise required by
securities and other applicable laws.
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SOURCE DuPont