ESAB Corporation (ESAB) announced the completion of its separation (the Separation) from Enovis Corporation, and its launch as an independent, publicly-traded corporation. ESAB’s common stock began trading “regular way” on April 5, 2022, on the New York Stock Exchange under the symbol “ESAB.”
In addition, ESAB also announced its new purpose and values.
In connection with the Separation, on April 4, 2022, Enovis shareholders received one share of ESAB common stock for every three shares of Enovis common stock held at the close of business on March 22, 2022. Fractional shares will be aggregated and sold into the public market and the proceeds distributed pro rata to Enovis shareholders who otherwise would have received such fractional shares. The shares will be credited to “street name” shareholders through the Depository Trust Corporation. Approximately 54 million shares, or 90%, of ESAB’s common stock were distributed to Enovis shareholders, and approximately 6 million shares, or 10%, of ESAB’s common stock, were retained by Enovis.