Nextracker (NXT) “announced Flex Ltd.’s (FLEX) plan to effect a spin-off of all of its remaining interests in Nextracker Inc. to Flex shareholders, which would result in a separation by Flex from its ownership in Nextracker. Later today, Nextracker expects to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission, that includes a preliminary proxy statement of Flex, which will include additional information regarding the spin-off. The separation from Flex is currently expected to close in fiscal Q4 ending March 31, 2024, but remains subject to a number of conditions, and no assurance can be given that the spin-off will in fact occur.”
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