3M said it completed the separation of its health care business on April 1, 2024, distributing 80.1% of the outstanding shares of Solventum Corporation common stock pro rata to its shareholders.

1. 01

   3M said it completed the separation of its health care business on April 1, 2024, distributing 80.1% of the outstanding shares of Solventum Corporation common stock pro rata to its shareholders.

2. 02

   The company said it allocated 1 share of Solventum common stock for every 4 shares of 3M common stock held by 3M shareholders as of the close of business on March 18, 2024, with cash paid in lieu of fractional shares.

3. 03

   The company said it holds 19.9% of the outstanding shares of Solventum common stock, and that this stake will be monetized within 5 years after the spin-off.

4. 04

   3M disclosed that it entered into agreements with Solventum in connection with the closing of the separation, including the Separation and Distribution Agreement and the Tax Matters Agreement. The company also said that its guarantee of Solventum's senior unsubordinated notes, 3M, was automatically and unconditionally released upon completion of the distribution.

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Original filing

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