other material
confidence high
sentiment neutral
materiality 0.50
Crane Co. completes reorganization; Crane Holdings becomes new public parent company, shares continue under ticker CR
Crane NXT, Co.
- On May 16, 2022, Crane Co. completed the reorganization merger, converting each share of Crane Co. common stock into one share of Crane Holdings common stock.
- Crane Holdings becomes the successor issuer under Section 12(b) and will trade on NYSE under ticker symbol 'CR' starting May 17, 2022.
- Following the merger, Crane Co. converted to a Delaware LLC named Crane LLC and distributed substantially all assets to Crane Holdings.
- Directors and executive officers of Crane Holdings are identical to those of Crane Co. immediately prior to the reorganization.
- Crane Holdings assumed obligations under the existing credit agreement, senior notes indentures, and commercial paper program.