SPX Technologies shares up after $500 mln equity raise

SPX Technologies

13/08/2025 12:56

** Shares of infrastructure equipment supplier SPX Technologies SPXC.N up 1.2% at $193.50 premarket after equity raise secured

    ** The HVAC
    and detection and measurement solutions provider late Tues announced pricing ~2.7 mln shares at $188 for $500 mln gross proceeds

    ** Offering price represents 1.7% discount to stock's last close

    ** SPXC shares on Tues fell 4.7% after co late Mon unveiled the offering for working capital, and other purposes, including refinancing/repurchasing debt, funding acquisitions and capex

** BofA, JP Morgan and Wells Fargo are joint bookrunners for the offering, joined by TD Cowen and Truist Secs

** Charlotte, North Carolina-based SPXC has ~46.7 mln shares outstanding for $9 bln market cap

    ** Through Tues close, stock up 31% YTD

    ** All 7 analysts covering SPXC are bullish with avg rating of "strongbuy" and median PT is $205 - LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))