Resideo sets Aug 3 spin-off of ADI Global Distribution; ADI raises $1.5B in debt

Filed July 1, 2026 · Period ending June 30, 2026 · ~2 min read

Key Changes

• high

  Board approved spin-off of ADI Global Distribution business into standalone public company; shareholders of record July 20 receive 1 ADI share per 2 REZI shares held, distribution Aug 3, tax-free to holders.

  Item 7.01 — Regulation FD Disclosure verify on EDGAR →
• high

  ADI completed $400M senior notes offering at 7.125% (2034 maturity) and entered $1.1B credit facility ($600M term loan at SOFR+2.75%, $500M revolver); proceeds fund ~$900M dividend to Resideo.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  ADI's credit facility requires leverage ratio starting at 4.75:1.00, stepping down to 3.50:1.00 over nine quarters, and minimum interest coverage of 2.50:1.00; term loan requires 50% excess cash flow prepayments starting 2027.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →