LGL GROUP INC LGL → M-tron Industries, Inc. MPTI
| Parent | LGL GROUP INC LGL |
|---|---|
| Spinco | M-tron Industries, Inc. MPTI |
| Status | Completed |
| Structure | Spin-off A filing states a pro-rata distribution: holders receive shares automatically. |
| Focus | Not focus-increasing Parent and spinco remain in the same industry; the separation divides scale rather than business. |
| Ratio | 1 M-tron share for every 2 LGL Group shares |
| Ratio note | Worded in the filings as one-half share of M-tron for each LGL share. |
| Checked against EDGAR | 2026-08-22 |
Data trap
This company is still listed, and a Form 25 filed in December 2025 makes it look otherwise. That filing removes only a class of expiring warrants, not the common stock: the matching Form 15 deregisters the warrants while expressly listing the common stock among the classes for which the reporting duty remains, and the company filed an annual report months afterwards. Recording that Form 25 date as a delisting would retire a live company. A second, milder trap sits earlier in the deal — the original declaration set an August record date and a one-for-one ratio, both superseded eight days later by a September record date and a one-half-share ratio.
The restated filings have landed; this is kept as history.
Catalyst clock
- 2021-08-12Separation announced
- 2022-05-11Form 10 filed
- 2022-08-19Form 10 last amended
- 2022-09-07Form 10 effective
- 2022-09-30Record date
- 2022-09-29When-issued trading opens
- 2022-10-07Distribution
- 2022-11-14First standalone earnings
- —Index inclusion announced
Performance since separation
| M-tron Industries, Inc. since separation | +432.96% |
|---|---|
| LGL GROUP INC over the same window | +40.74% |
| S&P 500 (SPY) over the same window | +111.06% |
| Russell 2000 (IWM) over the same window | +77.90% |
| Excess over the S&P 500 | +321.90% |
| Excess over the Russell 2000 | +355.06% |
Measured from the first regular-way close on or after the distribution — 2022-10-07 at 15.20 — to 2026-08-21 at 81.01. Window: 3.9 years. 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.
Pre-distribution investor return
| Parent, announcement to separation | +16.75% |
|---|---|
| Combined (LGL GROUP INC + M-tron Industries, Inc.), pre-distribution to now | +945.76% |
| Combined excess over the S&P 500 | +840.58% |
| Combined excess over the Russell 2000 | +873.09% |
Combined treats a pre-spin holding as 1 M-tron share for every 2 LGL Group shares valued at the parent's last close before regular post-spin trading resumed — 2022-10-06 at 4.60 — against that same basket today. That baseline is a practical proxy, not an attempt to isolate exactly how much value the separation transferred: for a large parent and a small spinco, ordinary day-to-day price noise can be bigger than the transfer itself. Run-up measures only the parent's own price, from the announcement date to that same baseline — how far the market had already moved before the separation's mechanics ever happened.
Filings
Every fact on this page comes from one of these.
- 10-12B/Afiled 2022-08-19 · 0001564590-22-029832Final Form 10 amendment; Ex-99.1 information statement carries the one-half-share ratio and the September 30 record date
- 8-Kfiled 2022-08-03 · 0001564590-22-027707Original declaration — record date August 12, a one-for-one ratio and distribution around August 19, all later superseded
- 8-Kfiled 2022-08-11 · 0001564590-22-029138Spin-off rescheduled to a September 30 record date and an October 7 distribution
- 8-Kfiled 2022-09-16 · 0001564590-22-031809Form 10 declared effective September 7; when-issued trading from about September 29 and regular-way from October 7
- 8-Kfiled 2022-10-11 · 0001564590-22-033836Completion: separation effective 12:01 a.m. Eastern on October 7, 2022; LGL retained no ownership interest
- 10-Qfiled 2022-11-14 · 0001564590-22-037653First periodic report; 2,726,798 shares outstanding
Notes
The LGL Group's separation of its M-tron frequency-control components business, a genuinely small deal — under three million shares outstanding at separation. The distribution took effect at 12:01 a.m., before the open, so October 7 is itself the first regular-way session. Classified non-focus-increasing: parent and spinco share the same four-digit electronic-components code.