What does Spinco stand for?

LANSING, Mich., July 7, 2022 — Neogen Corporation (“Neogen”) (NASDAQ: NEOG) announced today that on July 6, 2022 Garden SpinCo Corporation (“SpinCo”), a direct wholly-owned subsidiary of 3M Company (“3M”), priced an offering of $350.0 million aggregate principal amount of 8.625% senior notes due 2030 (the “Notes”) in a private placement at par.

Who is garden Spinco?

GARDEN SPINCO CORPORATION is a Delaware Domestic Corporation filed on December 10, 2021. The company's filing status is listed as Active and its File Number is 6328708. The Registered Agent on file for this company is Corporation Service Company and is located at 251 Little Falls Drive, Wilmington, DE 19808.

What happens if 3M shares are merged with garden Spinco?

Under the terms of the agreement released on 4 August, owners of shares in 3M will have the option to exchange their 3M stock for shares in the common stock of an entity called Garden SpinCo. On 29 August, shareholders will face a deadline for taking part in the merger.

What happened to Spinco & Neogen?

Yesterday, the group announced the successful completion and separation of its food safety business and merger the business with Neogen. "Upon completion of the merger, each share of SpinCo common stock will be converted into the right to receive one share of Neogen (NEOG) common stock.