Finance History|11 Wall Street — PKI Stopped and a Life-Sciences Book Printed RVTY
· 2023-5
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Finance History|11 Wall Street — PKI Stopped and a Life-Sciences Book Printed RVTY
kevin
People treat Revvity as a Waltham life-sciences house that always printed RVTY after a finished New York book.
The May 2023 issuer was already public. It was the same Delaware company that had traded as PerkinElmer, Inc. under the letters PKI.
An 8-K filed 16 March 2023 records the split that made a new name necessary. On 13 March 2023 the company closed the sale of its Applied, Food and Enterprise Services businesses to a New Mountain Capital vehicle.
Consideration paid at that closing was approximately 2.136 billion dollars in 2023 currency, subject to later adjustments and deferred amounts under the amended purchase agreement.
The sold units kept the PerkinElmer name. The remaining public life-sciences and diagnostics company needed new letters.
A company release dated 11 May 2023, filed the same day, said the ticker would change from PKI to RVTY at the open on 16 May 2023.
An OCC memorandum dated 15 May 2023 confirmed the same open: underlying and option symbols PKI became RVTY that morning. The CUSIP stayed 714046109.
The present tape is RVTY on the New York Stock Exchange.
The mechanism is a ticker change after a carve-out. The New York letters followed the cash that left with the applied businesses, not a first sale of stock.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that now prints RVTY.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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