What was the Rexnord-Regal Beloit transaction?

On October 4, 2021, Zurn Water Solutions Corporation (formerly known as Rexnord Corporation) completed the spin-off (the “Transaction”) of its Process & Motion Control (“PMC”) business, which was acquired by Regal Beloit Corporation.

Following completion of the Transaction, Rexnord changed its name to “Zurn Water Solutions Corporation” and our shares of common stock will be traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “ZWS”.

Zurn Water Solutions is a leading, pure play water management platform, providing a comprehensive suite of solutions driving sustainability across applications. designs, procures, manufactures and markets products that provide and enhance: Water Safety & Control, Flow Systems, Hygienic & Environmental

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What happened to my shares of RXN common stock as part of the transaction?

If you were a holder of record of Rexnord common stock (NYSE: RXN) as of the close of business on September 29, 2021, which was the record date for the Transaction: (1) you retained your same number of shares of Rexnord common stock (which will now trade as Zurn Water Solutions Corporation under the ticker symbol “ZWS”) and (2) for each share of RXN common stock you owned, you are entitled to receive 0.22296103 shares of Regal Beloit Corporation (NYSE: RBC) common stock (note that, following the Transaction, Regal changed its name to “Regal Rexnord Corporation” and its shares of common stock will trade on the NYSE under the ticker symbol “RRX”).

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Is this a taxable transaction?

It is expected that the Transaction will be tax-free to Rexnord stockholders. You should consult with your tax professional if you have specific questions.

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