Carrier Global Corporation Completes Spin-Off from United Technologies

Carrier Global Corporation completed its separation from United Technologies Corporation (now Raytheon Technologies) and became an independent publicly traded company. The distribution of 866,158,910 shares of Carrier common stock to UTC shareholders was effective April 3, 2020, and Carrier's stock began trading on the NYSE under the symbol 'CARR'.

“On April 2, 2020, Carrier Global Corporation (the “Company”) entered into a Separation and Distribution Agreement with United Technologies Corporation (since renamed Raytheon Technologies Corporation) (“UTC”), pursuant to which, among other things, UTC agreed to separate into three independent, publicly traded companies – UTC, Otis Worldwide Corporation (“Otis”) and the Company (the “Separation”) – and distribute (the “Distribution”) all of the outstanding common stock of the Company to UTC shareowners who held shares of UTC common stock as of the close of business on March 19, 2020, the record date for the distribution.”

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