Flex Names AI Infrastructure Spin-Off Axiom, Files Form 10
FLEX has more than doubled off its 52-week low of $53.07 on light trading volume (0.1× avg).
Summary
Flex unveiled Axiom Solutions International Inc. as the name of its planned cloud and power infrastructure spin-off, filing a preliminary Form 10 with the SEC. Axiom is expected to trade on Nasdaq under ticker AXM, with separation targeted for Q1 2027 pending board, shareholder, and Singapore High Court approvals. The company also named Amy B. Schwetz as CFO of its Regulated Manufacturing Services and Integrated Technology Services segments, effective Oct. 5, with expectation she becomes Flex CFO post-separation. Board compositions for both companies were outlined, including new independent directors. This follows the July leadership announcements and the recent $4.4B EPC Power acquisition, advancing the spin-off execution timeline.
Updates
· SEC PRE 14A — Flex set a Nov. 2, 2026 shareholder vote on the spin-off, with a record date of Sept. 24, 2026, and plans to distribute 88% to 94% of Axiom shares via a court-approved capital reduction.
At the time of this announcement, FLEX was trading at $107.18 on NASDAQ in the Technology sector, with a market capitalization of approximately $39.6B. The 52-week trading range was $53.07 to $166.86. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Benzinga.