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Stock offerings

SPX Technologies Announces $500 Million Public Offering

Strategic Insights

— 1 min read

SPX Technologies, Inc. has announced plans to offer 500 million shares of its common stock in an underwritten public offering, with the potential to sell an additional $75 million of shares through a 30-day option granted to underwriters. The offering, which is subject to market conditions, aims to provide SPX with necessary funds to support its growth initiatives. The shares will be offered by SPX pursuant to an effective automatic shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). The company has engaged BofA Securities, J.P. Morgan, and Wells Fargo Securities as joint book-running managers for the proposed offering.

Key Takeaways:

  • SPX Technologies intends to offer 500 million shares of common stock in a public offering, with the potential to sell an additional 75 million shares through a 30-day option.
  • The offering is subject to market conditions and there is no assurance as to whether or when the offering may be completed.
  • BofA Securities, J.P. Morgan, and Wells Fargo Securities are acting as joint book-running managers for the proposed offering.
  • TD Cowen and Truist Securities are also acting as book-running managers for the proposed offering.
  • The preliminary prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and available on the SEC's website.
  • The company has over 4,300 employees in over 16 countries, holding leadership positions in the HVAC and detection and measurement markets.
  • SPX is listed on the New York Stock Exchange under the ticker symbol SPXC.

Statistics:

  • 500 million shares of common stock to be offered in the public offering.
  • $75 million of additional shares to be sold through a 30-day option granted to underwriters.
  • SPX has over 4,300 employees worldwide.
  • The company operates in over 16 countries.
  • The proposed offering is subject to market conditions and does not guarantee completion.

Sources:

  • GlobeNewswire - SPX Technologies, Inc. Announces Intention to Offer $500 Million of Shares of Common Stock in Underwritten Public Offering ().
  • SEC Filing: SPX Technologies, Inc. - Form 8-K (, filed February 26, 2025).
  • SPX Technologies, Inc. - Annual Report on Form 10-K (, filed February 26, 2025).

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