Spinoff

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
    }
  }
}