CFX - CFX STOCK NEWS

Colfax Corporation (NYSE: CFX) announced the upcoming spin-off of its fabrication technology business, leading to the establishment of Enovis Corporation and ESAB Corporation on April 4, 2022. The new board for ESAB will comprise experienced directors, including Mitchell P. Rales as Chairman and Shyam P. Kambeyanda as CEO. This restructuring aims to enhance growth and shareholder value in both entities, with a focus on leveraging their respective technologies and capabilities.

Colfax Corporation (CFX) announced a pro rata distribution of 90% of ESAB Corporation's common stock to shareholders, effective on April 4, 2022. Shareholders of record as of March 22 will receive one share of ESAB for every three shares of Colfax held, after a reverse stock split. ESAB common stock will begin 'when-issued' trading on March 21, 2022, under the symbol 'ESAB WI.' Post-distribution, Colfax will change its name to Enovis Corporation and trade under 'ENOV.' The distribution remains contingent on regulatory approvals and other customary conditions.

Colfax Corporation (NYSE: CFX) announced changes to its Board of Directors as it prepares for its upcoming spin-off, renaming itself Enovis Corporation. The Board will retain key members including Mitchell P. Rales as chairman and Matt Trerotola as CEO. New appointees include Barbara Bodem and Angela S. Lalor, enhancing the board's expertise in medical technology. Three current directors will step down to join the board of ESAB Corporation. This strategic move aims to position Enovis as a leading medical technology firm focused on improving patient outcomes.

Colfax Corporation (NYSE: CFX) announced its intention to redeem €350 million of its 3.250% Senior Notes due 2025 and $300 million of its 6.375% Senior Notes due 2026 on April 7, 2022. The redemption is contingent on receiving proceeds from the planned separation of its businesses, which may be waived or delayed at Colfax's discretion. The 2025 Notes will be redeemed at 100.813% and the 2026 Notes at 103.188%, including accrued interest. A conditional notice of redemption will be sent to registered holders. This release does not constitute a notice of redemption or an offer to buy/sell securities.

DJO®, a subsidiary of Colfax Corporation (NYSE: CFX), announced its dedicated Foot & Ankle division at the ACFAS Scientific Conference in Austin from February 21-24, 2022. The company has expanded its Foot & Ankle offerings through acquisitions and internal development, aiming to innovate within this growing orthopedic market. Key products include the DynaNail Hybrid™ and the STAR® Total Ankle Replacement. DJO is positioned to enhance its market presence and improve surgical outcomes.

Colfax Corporation (NYSE: CFX) reported its Q4 and full-year 2021 financial results, noting net income from continuing operations at $10 million ($0.06 EPS) and adjusted EPS of $0.59, a 16% increase from last year. Q4 sales rose 24% to $1,023 million, with operating income at $55 million. Full-year operating cash flow reached $356 million, and free cash flow was $277 million. The company is set to separate into two independent entities, Enovis and ESAB, in Q1 2022, with strong growth projections for both. Enovis anticipates a 10-14% sales increase in 2022, while ESAB expects 7-10% organic growth.

Colfax Corporation (NYSE: CFX) announced that it will release its financial results for Q4 and fiscal year 2021 on February 22, 2022. The company will hold a conference call at 8:00 a.m. Eastern on the same day, accessible to the public via phone and webcast. Colfax is known for its orthopedic and fabrication technology products under the DJO and ESAB brands. Additionally, the company is proceeding with its planned separation into two independent firms, focusing on specialty medical technologies and fabrication technologies, anticipated to conclude by Q1 2022.

Colfax Corporation (NYSE: CFX) will present at the J.P. Morgan Healthcare Conference on January 12, 2022, at 3:00 PM EST. The live presentation will be accessible on the company's website, with replays available post-event. Colfax, a diversified technology company, specializes in orthopedic and fabrication technologies under the DJO and ESAB brands. In March 2021, Colfax announced plans to separate into two independent entities, accelerating strategic momentum. Enovis Corporation will focus on specialty medical technologies, while ESAB Corporation will concentrate on fabrication technologies.

Colfax Corporation (NYSE: CFX) has announced plans to hold a special meeting for stockholders on February 28, 2022. The agenda includes seeking approval for a reverse stock split of its common stock at ratios of one-for-two, one-for-three, or one-for-four, alongside a corresponding reduction in authorized shares. This move is part of the company's strategy coinciding with its separation into two independent entities: ESAB Corporation and Enovis Corporation. The Board of Directors retains the right to delay or abandon the proposal if deemed not in the best interest of the company or its shareholders.