Hexagon AB → Octave Intelligence plc OCTV
| Parent | Hexagon AB |
|---|---|
| Spinco | Octave Intelligence plc OCTV |
| Status | Completed |
| Structure | Spin-off A filing states a pro-rata distribution: holders receive shares automatically. |
| Focus | Focus-increasing Parent and spinco operate in different industries — the class the research associates with stronger post-separation returns. |
| Ratio | 1 Octave share for every 10 Hexagon shares |
| Ratio note | Distributed class-for-class: Hexagon Class A holders received Octave Class A ordinary shares and Class B holders received Octave Class B, both at 1-for-10. Only the Class B shares are listed on Nasdaq in New York; Swedish holders received depositary receipts (SDRs) trading in Stockholm. |
| Checked against EDGAR | 2026-08-21 |
Data trap
The parent files nothing with the SEC, so there is no EDGAR trail on the other side of this deal at all: Hexagon AB reports in Sweden and has no CIK. US screeners cannot construct a pre-separation comparison for Octave from EDGAR, and the OCTLF over-the-counter line that appears in EDGAR's ticker metadata is not the Nasdaq-listed security.
The restated filings have landed; this is kept as history.
Catalyst clock
- —Separation announced
- 2026-02-11Form 10 filed
- 2026-04-27Form 10 last amended
- 2026-05-12Form 10 effective
- 2026-05-22Record date
- —When-issued trading opens
- 2026-05-22Distribution
- —First standalone earnings
- —Index inclusion announced
Performance since separation
| Octave Intelligence plc since separation | +2.14% |
|---|---|
| Hexagon AB over the same window | never listed separately |
| S&P 500 (SPY) over the same window | +2.69% |
| Russell 2000 (IWM) over the same window | +5.20% |
| Excess over the S&P 500 | -0.55% |
| Excess over the Russell 2000 | -3.06% |
Measured from the first regular-way close on or after the distribution — 2026-05-26 at 17.76 — to 2026-08-21 at 18.14. Window: 3 months. That is a short window. Treat it as a fact about these few weeks, not as evidence about how the separation turns out. The 2026-05-22 session was skipped: it traded on when-issued volume, not regular-way, and pricing from it would measure the return against a market that no longer existed the next day. Two benchmarks, because one is misleading: spin-offs are usually small companies, and across this period small caps lagged the S&P by several points a year on their own. Measured against the S&P alone, roughly a third of any shortfall is company size rather than the separation. Returns are arithmetic over end-of-day closing prices. Unlike every other figure on this page, they do not come from a filing.
Filings
Every fact on this page comes from one of these.
- 10-12Bfiled 2026-02-11 · 0001628280-26-007360Initial Form 10 registration statement for the software businesses
- 10-12B/Afiled 2026-04-27 · 0001628280-26-027570Amendment No. 3 to the Form 10
- 8-Kfiled 2026-05-12 · 0001628280-26-033950Form 10 declared effective May 12, 2026; final information statement filed as an exhibit
- 8-Kfiled 2026-05-26 · 0001628280-26-037912Distribution effective 7:30 a.m. New York time on May 22, 2026; Swedish depositary receipts delivered on or about May 26
- 10-Qfiled 2026-06-04 · 0001628280-26-040622First standalone quarterly report
Notes
An Irish plc headquartered in Alabama, spun out of a Swedish parent and listed on Nasdaq — the case that proved this tracker cannot require a CIK for both legs. Hexagon separated its Asset Lifecycle Intelligence, Safety/Infrastructure & Geospatial, ETQ and Bricsys businesses. Classified focus-increasing: enterprise software leaving a measurement and sensor hardware group. The announcement date is null on purpose: the information statement dates the plan only to 'March 2025' (with an October 2024 announcement that the board would investigate a separation), and a month is not a date. Hexagon's shareholders approved at a general meeting on 2026-04-24.