Input: Form 10-12B and For 10-12B/A
Engine: Chronological delta analysis through automated cross-filing comparison.
Deliverable: Actionable risk matrix, audio briefing, and executive summary.
Let’s examine the incoming spinoff of ADI Global Distribution Inc. (ADIG). This provides an opportunity to compare the Risk Factors to see before and after each amendment. On July 30, 2025, Resideo Technologies, Inc. announced that it intends to separate its ADI Global Distribution business into an independent publicly traded company through a tax-free spin-off to shareholders.
ADI Corporation expected to begin regular-way trading under ticker NYSE:ADIG: August 4, 2026. It has one original 10-12B and three amendments in I0-12B/A.
With Exhibit 99.1, the section labelled Item 1A. Risk Factors lists the risk factors in plain English. For illustrative purposes, let’s use one of the five lenses – see list below – to see the real data in each run. This method pinpoints the timeline of corporate decisions within Item 1A. Risk Factors, with each run producing its own CSV.
Five Risk Factors Lenses SM
- LEVERAGE & DEBT COVENANTS
- OPERATIONAL DEPENDENCY & TSA
- GOVERNANCE & ALLOCATION CONFLICTS
- TAX MATTERS INDEMNIFICATION
- HISTORICAL ACCOUNTING RUN-RATE
The same five lenses are consistent with all runs and all spinoffs.
Run 1 compares the Risk Factors in the original Form 10-12B with Amendment No.1.
Run 2 compares the Risk Factors in Amendment No. 1 with Amendment No 2.
Run 3 compares the Risk Factors in Amendment No. 2 with Amendment No 3.
| Run | What Changed? | Why It Matters |
| Run 1 | No material debt change | Financing plan appears stable |
| Run 2 | Debt exhibits added | Investors gain more detail on borrowing terms |
| Run 3 | No material changes | Capital structure appears finalized |
Sequential Slicing: The Structural Evolution of ADIG
Imagine reading only the first and last draft of a contract. You’d know where it started and where it ended, but you’d miss when important decisions were made. Sequential slicing captures every meaningful step in between.