8-K: SAIC Announces Nasdaq Listing Transfer and Investor Day

Science Applications International Corp. will transfer its stock listing from the NYSE to Nasdaq effective March 5, 2024, and host an Investor Day on April 11, 2024.

Summary

• Science Applications International Corporation (SAIC) has announced it will voluntarily delist its common stock from the New York Stock Exchange (NYSE).
• The delisting from the NYSE is scheduled to occur after the close of trading on March 4, 2024.
• SAIC will transfer its stock listing to The Nasdaq Stock Market LLC (Nasdaq), effective at the opening of trading on March 5, 2024.
• The company's common stock will continue to trade under the ticker symbol 'SAIC' on Nasdaq.
• SAIC will host an Investor Day in New York City on April 11, 2024, at Nasdaq's Global Headquarters.
• The Investor Day will include presentations from the CEO and executive leadership team, focusing on long-term strategy and financial outlook.
• The event will also showcase SAIC's innovative capabilities and offerings.
• A live webcast of the Investor Day and presentation materials will be available on SAIC's investor relations website.

Sentiment

Score: 7

Explanation: The document conveys a positive and proactive move by the company to transfer its listing to Nasdaq, which is generally viewed favorably by investors. The announcement of an Investor Day further enhances the positive sentiment.

Positives

• The transfer to Nasdaq may provide increased visibility and access to technology-focused investors.
• The Investor Day provides an opportunity for SAIC to communicate its strategy and outlook to analysts and investors.
• The company is maintaining its current ticker symbol, which should minimize confusion for investors.

Risks

• The document contains forward-looking statements that are subject to risks, uncertainties, and assumptions.
• Actual results may differ materially from the forward-looking statements due to various factors.
• The company disclaims any duty to update forward-looking statements.

Future Outlook

The company's future outlook will be discussed at the Investor Day on April 11, 2024, including long-term strategy and financial projections. The company has made forward looking statements about the ability to delist from the NYSE and list on the Nasdaq.

Management Comments

• SAIC Chief Executive Officer Toni Townes-Whitley and members of the executive leadership team will discuss the company's long-term strategy and financial outlook at the Investor Day.
• The company is aligning to its strategy as a mission-focused technology innovator.

Industry Context

The move to Nasdaq is consistent with a trend of technology companies seeking listings on exchanges that are perceived to have a higher concentration of technology investors. This move may also be part of a broader strategy to highlight SAIC's focus on technology innovation.

Comparison to Industry Standards

• Many technology companies choose to list on Nasdaq due to its reputation as a technology-focused exchange, including companies such as Apple, Microsoft, and Amazon.
• The transfer of listing is a common practice for companies seeking to align with their investor base and strategic goals.
• SAIC's annual revenue of $6.9 billion places it among the larger players in the technology integration and government contracting space, comparable to companies like Leidos and Booz Allen Hamilton.

Stakeholder Impact

• Shareholders will see their shares transferred to Nasdaq, maintaining the same ticker symbol.
• Analysts and institutional investors will have the opportunity to learn more about SAIC's strategy at the Investor Day.
• Employees may see this as a positive move for the company's future.

Next Steps

• SAIC will delist from the NYSE after the close of trading on March 4, 2024.
• SAIC will begin trading on Nasdaq on March 5, 2024.
• SAIC will host an Investor Day on April 11, 2024.

Key Dates

Keywords

Nasdaq, NYSE, stock listing, investor day, SAIC, technology, financial outlook, delisting