Marks an important milestone in the company’s long-term transformation
Jacobs Solutions Inc. will begin trading on August 29
DALLAS, August 19, 2022 /PRNewswire/ — Jacobs (NYSE:J) announced plans to adopt a new holding company structure on August 29, 2022. The name of the new parent company, Jacobs Solutions Inc., more closely aligns with Jacobs’ public identity as a global, technology-leading solutions company.
The internal transaction is intended to be tax-exempt for Jacobs and its shareholders for US federal income tax purposes.
Current Jacobs shareholders will automatically become shareholders of Jacobs Solutions Inc. on a one-for-one basis, with the same number of shares and percentage ownership of Jacobs common stock that they held immediately prior to the transaction with the company. holding. No significant operational or financial impact is expected and no shareholder vote is required.
Following the transaction, Jacobs Solutions Inc. will replace Jacobs Engineering Group Inc. as a public company listed on the NYSE and common stock of Jacobs Solutions Inc. will trade on the NYSE on an uninterrupted basis under the existing symbol “J”. . However, a new CUSIP number (46982L 108) has been issued for the common stock.
For more information regarding this transaction, visit Jacobs.com.
At Jacobs, we strive today to reinvent tomorrow by solving the world’s most critical problems for thriving cities, resilient environments, critical outcomes, operational advancements, scientific discovery and advanced manufacturing, transforming ideas abstracts into world-transforming realities. for real. With $14 billion in revenue and a talent force of more than 55,000 people, Jacobs provides a full range of professional services, including consulting, technical, scientific and project delivery services for the public and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.
Certain statements contained in this press release constitute forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this press release that are not based on historical facts are forward-looking statements. When used here, words such as “expects”, “anticipates”, “believes”, “seeks”, “estimates”, “plans”, “intends”, “future”, “will”, “would”, “could”, “”may”, “may”, and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding our expectations regarding the timing of the implementation of the holding company structure. Although these statements are based on management’s current estimates and/or expectations and on currently available competitive, financial and economic data, the statements forward-looking statements are inherently uncertain and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause that actual results differ depending what is contained, projected or implied by our forward-looking statements. These factors include our ability to execute our recently announced three-year business strategy, including our ability to invest in the tools necessary to fully implement our strategy, competition from current and future competitors in our target markets, our ability to achieve the cost-savings and synergies envisioned by our recent acquisitions within the expected timeframes and to successfully integrate acquired businesses while retaining key personnel, the impact of the COVID-19 pandemic, including the emergence and spread of variants of COVID-19, and any resulting economic conditions decline in our earnings, prospects and opportunities, measures or restrictions imposed by governments and health officials in response to the pandemic, the timetable for awarding projects and financing under the law on investment and employment in infrastructure, the risks of m financial markets that may affect the financing of the Company obligations under pension and post-retirement defined benefit plans, as well as general economic conditions including inflation and the measures taken by the monetary authorities in response to inflation, changes in interest rates, currency exchange rates, changes in capital markets and geopolitical events and conflicts, among others. The impact of these matters includes, but is not limited to, the possible reduction in demand for some of our product and service solutions and the delay or abandonment of ongoing or planned projects due to the financial condition of our customers and suppliers or from the government budget. constraints or changes in government budget priorities; the inability of our customers to meet their payment obligations on a timely basis or at all; potential issues and risks related to a significant portion of our employees working remotely; illnesses, travel restrictions and other workforce disruptions which have and may continue to adversely affect our supply chain and our ability to complete our customers’ projects in a timely and satisfactory manner; difficulties associated with retaining key employees or hiring additional employees; and the inability of the governments of some of the countries in which we operate to effectively mitigate the financial or other impacts of the COVID-19 pandemic on their economies and workforces and our operations in those countries. The foregoing factors and potential future developments are inherently uncertain, unpredictable and, in many cases, beyond our control. For a description of these and other factors that may arise that could cause actual results to differ from our forward-looking statements, see the discussions contained in Section 1 – Business; Item 1A – Risk Factors; Item 3 – Legal Proceedings; and Section 7 – MD&A and Discussion of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, and the discussions contained in Part I, Item 2 – MD&A financial condition and results of operations; Part II, Point 1 – Legal proceedings; and Part II, Item 1A – Risk Factors, in our most recent Quarterly Report on Form 10-Q, as well as in the Company’s other filings with the Securities and Exchange Commission. The Company is under no obligation to update any forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
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