Spin-off - NCR Voyix Corp

Form Type: 10-Q

Filing Date: 2025-05-08

Corporate Action: Spin-off

Type: Update

Accession Number: 000007086625000043

Filing Summary: On October 16, 2023, NCR Voyix Corporation completed the separation of its ATM-focused business through the spin-off of its wholly owned subsidiary, NCR Atleos Corporation. This spin-off involved a pro rata distribution of all outstanding shares of NCR Atleos common stock to holders of NCR Voyix common stock as of the record date of October 2, 2023. For every two common shares of NCR Voyix held, shareholders received one share of NCR Atleos common stock, with cash provided in lieu of fractional shares. The spin-off is anticipated to qualify as a tax-free distribution under U.S. federal income tax laws. Financial results for the first quarter of 2025 indicate a total revenue of $617 million, down from $710 million the previous year, with substantial operational losses reported.