Encompass Health Corporation (NYSE: EHC) (“Encompass Health”), today announced that it has completed the spin off of 100% of Enhabit, Inc. (“Enhabit”), its home health and hospice business. Enhabit is now an independent public company. Encompass Health will continue to trade on the New York Stock Exchange under the symbol “EHC” and, effective today, Enhabit will begin “regular-way” trading on the NYSE under the symbol “EHAB.”
The separation was completed through a distribution to Encompass Health stockholders of one share of Enhabit common stock for every two shares of Encompass Health common stock held as of the close of business on June 24, 2022, the record date for the distribution. Cash will be delivered in lieu of any fractional shares of Enhabit stock. Enhabit shares were distributed at 12:01 a.m. Eastern Time on July 1, 2022, in a distribution that is intended to be tax-free to Encompass Health stockholders for U.S. federal income tax purposes, except with respect to cash received in lieu of fractional shares.
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