Spin off? Split off?

Can someone please tell me how/why a spin off nor split off does NOT generate cash flow to the firm? But an equity carve out DOES result in a cash inflow? Thanks in advance

Spin off - company distributes shares of the subsidiary to shareholders. Split off - company exchanges stock in sub for a portion of the shareholders stock in parent. Equity carve-out: Selling a partial stake in a company for cash etc. Usually maintains control.

thanks, good stuff

equity carve out -> new company being created and this one issues shares as well. Spin off - similar to a carve out - but no shares are issued. Shares are distributed proportionally to the Parent’s company’s shareholders. Split off - Parent company shareholders are offered shares in new company after they return proportional # of shares in Parent. The parent company share holders exchange shares here.