In a spinoff, a company separates part of its business into a new, standalone entity, issuing shares of the new company to existing shareholders.
Remove Parent Company Shares
Shares of the parent company are removed temporarily.
{
"id": "event_721d38d7-5c2a-4471-898a-3ea0ca3bbb97",
"type": "positions.updated",
"timestamp": "2025-05-12T04:21:19.346076000Z",
"payload": {
"accountID": "b99f112f-e471-4f72-960d-92ae29e8c53e.1595935322380",
"accountNo": "DINT000026",
"userID": "b99f112f-e471-4f72-960d-92ae29e8c53e",
"updateReason": "SPINOFF",
"spinoff": {
"parentCompanySymbol": "CMRE"
},
"previous": {
"costBasis": 196.45,
"openQty": 14.96848525,
"symbol": "CMRE",
"avgPrice": 13.12
},
"current": {
"costBasis": 0,
"openQty": 0,
"symbol": "CMRE"
}
}
}
Reinstate Parent Company Shares
The same number of shares is reinstated with an updated cost basis.
{
"id": "event_89fcd7fe-361a-4760-b6cf-7926598fc22e",
"type": "positions.updated",
"timestamp": "2025-05-12T04:21:21.484123539Z",
"payload": {
"accountID": "b99f112f-e471-4f72-960d-92ae29e8c53e.1595935322380",
"accountNo": "DINT000026",
"userID": "b99f112f-e471-4f72-960d-92ae29e8c53e",
"updateReason": "SPINOFF",
"spinoff": {
"parentCompanySymbol": "CMRE"
},
"previous": {
"costBasis": 0,
"openQty": 0,
"symbol": "CMRE"
},
"current": {
"costBasis": 146.99,
"openQty": 14.96848525,
"symbol": "CMRE",
"avgPrice": 9.82
}
}
}
Add New Company Shares
{
"id": "event_f11e2453-e1cb-4bee-af7b-c79ca6d25348",
"type": "positions.updated",
"timestamp": "2025-05-12T04:21:21.505402739Z",
"payload": {
"accountID": "b99f112f-e471-4f72-960d-92ae29e8c53e.1595935322380",
"accountNo": "DINT000026",
"userID": "b99f112f-e471-4f72-960d-92ae29e8c53e",
"updateReason": "SPINOFF",
"spinoff": {
"parentCompanySymbol": "CMRE"
},
"previous": {
"costBasis": 0,
"openQty": 0,
"symbol": "CMDB"
},
"current": {
"costBasis": 51.16,
"openQty": 2.99369705,
"symbol": "CMDB",
"avgPrice": 17.09
}
}
}