No insight here either, but I would guess it is a spin-off ... mostly because it is a US company and in the US spin-off's are generally tax free to both company and shareholders.

Spin-off is where the parent company creates a subsidiary and distributes the shares in the subsidiary to the existing shareholders. So the shareholders end up holding shares of two companies. Share allocation is done on a pro-rata basis so each shareholder still has the same exposure they did before.