WELLINGTON, Fla.--(BUSINESS WIRE)--In connection with its previously announced spin-off of KLX Inc. (“KLX”), B/E Aerospace, Inc. (“B/E Aerospace” or the “Company”) (NASDAQ: BEAV) today announced that it has been informed by NASDAQ about the certain key dates relating to trading in common stock of KLX and B/E Aerospace in connection with the spin-off. As previously announced, the record date for the distribution of KLX common stock to B/E Aerospace shareholders will be the close of business on Friday, December 5, 2014, and the distribution date will be December 16, 2014.
Starting on Wednesday, December 3, 2014, there will be a when-issued market in KLX common stock under the ticker symbol “KLXIV.” This when-issued market will continue until regular-way trading in KLX common stock begins under the ticker symbol “KLXI” on December 17, 2014, the first trading day after the distribution date.
Also starting on Wednesday, December 3, 2014, there will be two markets in B/E Aerospace common stock: a “regular-way” market and an “ex-distribution” market:
- Regular way market. Shares of B/E Aerospace common stock that trade on the regular-way market under B/E Aerospace’s current ticker symbol “BEAV” will trade with an entitlement to shares of KLX common stock distributed in the distribution through December 16, 2014.
- Ex-distribution market. Shares of B/E Aerospace common stock that trade on the ex-distribution market will trade under the ticker symbol “BEAVV” without an entitlement to shares of KLX common stock distributed in the distribution. The last day of trading in the ex-distribution market will be December 16, 2014.
B/E Aerospace received this information from NASDAQ and is providing it as a convenience, but investors are urged to consult with their own financial advisers regarding the specific implications of buying or selling B/E Aerospace common stock on or before the distribution date.
This news 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. Such forward-looking statements involve risks and uncertainties. The Company’s actual experience and results may differ materially from the experience and results anticipated in such statements. Factors that might cause such a difference include those discussed in the Company’s filings with the Securities and Exchange Commission (“SEC”), which include its Proxy Statement, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. For more information, see the section entitled “Forward-Looking Statements” contained in the Company’s Annual Report on Form 10-K and in other filings. The forward-looking statements included in this news release are made only as of the date of this news release and, except as required by federal securities laws and rules and regulations of the SEC, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About B/E Aerospace, Inc.
B/E Aerospace is the world’s leading manufacturer of aircraft cabin interior products and the world’s leading provider of aerospace fasteners, consumables and logistics services. B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E Aerospace manufactured products include aircraft cabin seating, lighting systems, oxygen systems, food and beverage preparation and storage equipment, galley systems, and modular lavatory systems. The Company also provides cabin interior reconfiguration, program management and certification services. The Company provides aerospace fasteners, consumables and logistics services as well as oilfield services and associated rental equipment. B/E Aerospace sells and supports its products through its own global direct sales and product support organization.