SPX Technologies Prices Public Offering of Common Stock
SPX Technologies Announces Share Pricing for Public Offering
SPX Technologies, Inc. (NYSE:SPXC), headquartered in Charlotte, North Carolina, recently disclosed the pricing details of its public offering. The company is offering 2,659,575 shares of common stock at an impressive price of $188.00 per share. This initiative aims to generate substantial funding, with expected gross proceeds around $500 million before expenses related to underwriting and offering costs.
Details of the Offering
All shares available in this offering are being sold directly by SPX. Notably, the underwriters have been granted a 30-day option to purchase an additional 398,936 shares, which could potentially increase the total offer. The completion date for this offering is anticipated to be around mid-August, pending customary closing conditions.
Underwriters for the Offering
Leading the management of this public offering are established financial institutions including BofA Securities, J.P. Morgan, and Wells Fargo Securities as the joint book-running managers. Additional contributions are made by TD Cowen and Truist Securities. Other supportive entities such as Citizens Capital Markets and Scotiabank join the effort as co-managers, highlighting a well-structured engagement with multiple stakeholders.
Legal Compliances and Documentation
The shares are being offered in accordance with an effective automatic shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). Interested parties can access detailed documents through the SEC's website or directly from BofA Securities' contact points. The offering materials will consist of a written prospectus and relevant supplements to outline the terms of this public offering comprehensively.
Important Information for Investors
This article serves as an informative piece, but it does not act as an official solicitation or offer regarding the sale or purchase of these securities. Potential investors should be aware that the offering is subject to regulatory compliance, and sales in specific jurisdictions may be restricted until proper registration has been made.
About SPX Technologies, Inc.
SPX is a notable provider of highly engineered products across diverse sectors, particularly HVAC and measurement technologies. The company operates globally, boasting a workforce of over 4,300 employees spread across more than 16 countries, underscoring its expansive reach and influence in the industry.
Contact Information for Investors
For any inquiries related to investments and offerings, investors can reach out to Mark A. Carano, the Vice President and CFO of SPX Technologies. He is available at a direct phone line for prompt assistance or via email to address investor concerns.
Frequently Asked Questions
What is the purpose of SPX's public offering?
The proceeds from the public offering will significantly bolster SPX's financial capabilities and support its strategic initiatives.
How many shares are being offered in the public offering?
SPX is offering a total of 2,659,575 shares of common stock, with an option for underwriters to purchase additional shares.
What is the price per share for this offering?
The price per share for the public offering has been set at $188.00.
Who are the underwriters for this public offering?
The underwriters include BofA Securities, J.P. Morgan, Wells Fargo Securities, along with other notable financial institutions.
How can investors access offering details?
Investors can obtain details about this offering by visiting the SEC's website or contacting BofA Securities directly for the prospectus and associated documentation.
About The Author
Contact Thomas Cooper privately here. Or send an email with ATTN: Thomas Cooper as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.