Missed the HON/HONA record date, is buying both separately after June 29th basically the same deal?

Honeywell is separating its Aerospace Technologies division into its own publicly traded company, $HONA (Honeywell Aerospace), with the distribution date set for June 29, 2026. The deal is that for every 2 $HON shares you held as of the June 15th record date, you receive 1 $HONA share while keeping your $HON shares.

Unfortunately I don't currently own any HON and missed the June 15th record date cutoff. I plan to buy into both companies eventually when I have the funds, but I'm wondering if people who held $HON before June 15th get a meaningfully better deal than buying both separately after the spinoff?

My understanding is that the market would have already priced the $HONA entitlement into $HON's share price before the record date, and that $HON should drop accordingly on June 29th to reflect the separation, so in theory the total value evens out either way. But I wanted to get some other perspectives since I'm still learning.