XPERI Holding Company changed its name to Adeia and its ticker symbol to ADEA. It then spun off a new company named Xperi, Inc with the ticker symbol XPER.
The companies plan to structure the reorganization so it is a non-taxable event. We will assume they are successful. In myICLUB, this will be accomplished by entering a merger of XPERI Holding with Adeia followed by a spinoff of Xperi, Inc from Adeia. The return calculations for Adeia will begin on the merger date and for Xperi, Inc on the spinoff date.
The Merger Entry - Go to Accounting > Securities > Record merger of securities in myICLUB. If you are unfamiliar with merger transactions you can get help at this URL: http://www.iclub.com/support/kb/default.asp?page=normal_merger
Here is the information needed for the merger.
Save the transaction and the merger is entered.
The Spinoff Entry
Go to Accounting > Securities > Record spinoff of securities in myICLUB. If you are unfamiliar with spinoff transactions you can get help at this URL: http://www.iclub.com/support/kb/default.asp?page=normal_spinoff
Here is the information you need to complete the spinoff. Be sure to enter this AFTER the XPER merger to become Adeia.
Save the transaction and the spinoff is entered.