Howard Hughes Holdings Inc. (HHH): M&A transaction — HHH completes spin-off of Seaport Entertainment; distribution ratio 1:9

Howard Hughes Holdings Inc.

Each HHH shareholder received 1 share of Seaport Entertainment (SEG) for every 9 HHH shares held.
HHH contributed $23.4M to Seaport Entertainment for post-separation liquidity.
Seaport Entertainment began trading on NYSE American under ticker SEG on Aug 1, 2024.
Separation agreements include Transition Services, Tax Matters, and Employee Matters; HHH bears all separation costs.
Equity awards adjusted to preserve intrinsic value; options converted to cover both HHH and SEG shares.

item 1.01 item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Howard Hughes Holdings Inc. completed a disposition involving Seaport Entertainment Group Inc. (closed 2024-07-31).

Action: disposition
Counterparty: Seaport Entertainment Group Inc.
Closing: 2024-07-31

Exact text from the filing

On the Distribution Date, the Company completed the previously announced Separation of Seaport Entertainment.

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Howard Hughes Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-084903

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