Flex Announces Name for Spin-Off as Shares Rise in Premarket Trading
Shares of Flex (NASDAQ:FLEX) rose by 2.6% in premarket trading after the company announced it has named its planned spin-off Axiom Solutions International and filed a preliminary registration statement with the SEC. The cloud and power infrastructure division is expected to trade under the ticker AXM on Nasdaq following separation, which is anticipated for early 2027. Flex also appointed Amy Schwetz as CFO of two key segments and outlined changes in board composition post-separation. George R. Oliver and Brian Yoor are set to join Flex's board after the transaction. The spin-off aligns with broader restructuring efforts that include a $4.4 billion acquisition of EPC Power, focusing on power infrastructure for AI data centers. The stock’s rise occurred amid slightly negative sentiment in major US equity futures.
Tickers: $FLEX
Topics: cloud infrastructure executive appointment regulatory filing spin-off