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SPX Announces Pricing of Public Offering of Common Stock

1. SPX Technologies announced a public offering of 2.66 million shares. 2. Shares priced at $188.00, raising approximately $500 million. 3. Offering expected to close on August 14, 2025, subject to conditions. 4. SPX granted underwriters a 30-day option for additional shares. 5. SPX holds strong market positions in HVAC and measurement technologies.

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FAQ

Why Bearish?

Public offerings can dilute existing share value, impacting market perception negatively. Historical examples show that similar offerings often lead to price declines post-announcement.

How important is it?

The stock offering may significantly impact pricing and valuation dynamics. Stakeholders should closely monitor the stock’s performance as the offering closes.

Why Short Term?

Immediate market reactions likely to reflect dilution effects but may stabilize over time. Historically, stock prices recover post-offering if the funds are used for productive growth.

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SPXC
August 12, 2025 21:18 ET  | Source: SPX Technologies CHARLOTTE, N.C., Aug. 12, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (“SPX”) announced today the pricing of an underwritten public offering of 2,659,575 shares of its common stock at a public offering price of $188.00 per share. The gross proceeds to SPX from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $500.0 million. All shares in the offering are to be sold by SPX. In addition, SPX has granted the underwriters a 30-day option to purchase up to an additional 398,936 shares of its common stock offered in the public offering. The offering is expected to close on or about August 14, 2025, subject to customary closing conditions. BofA Securities, J.P. Morgan, and Wells Fargo Securities are acting as joint book-running managers for the offering. TD Cowen and Truist Securities are also acting as book-running managers for the offering. Citizens Capital Markets, Fifth Third Securities, PNC Capital Markets LLC, Oppenheimer & Co., Scotiabank, William Blair, B. Riley Securities, Seaport Global Securities, and Wolfe Capital Markets and Advisory are acting as co-managers for the offering. The shares are being offered by SPX pursuant to an effective automatic shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov, copies of which may be obtained from BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department or by emailing dg.prospectus_requests@bofa.com, J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 by emailing prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com, or Wells Fargo Securities, LLC, Attention: WFS Customer Service, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or by emailing WFScustomerservice@wellsfargo.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About SPX Technologies, Inc.: SPX is a diversified, global supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX has over 4,300 employees in over 16 countries. SPX is listed on the New York Stock Exchange under the ticker symbol “SPXC.” Cautionary Statement Regarding Forward-Looking Statements: Various statements in this release concerning the timing and completion of the public offering on the anticipated terms or at all may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, as amended, and other federal securities laws. All such forward-looking statements are based on management’s current expectations of future events and are subject to a number of substantial risks and uncertainties, many of which are outside SPX’s control, that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include fluctuations in SPX’s stock price, changes in market conditions and satisfaction of customary closing conditions related to the public offering, as well as those risks more fully discussed in the section entitled "Risk Factors" in the prospectus supplement and registration statement referenced above, SPX’s Annual Report on Form 10-K for the year ended December 31, 2024, filed February 26, 2025 with the SEC, and subsequent filings with the SEC including SPX’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. There can be no assurance that SPX will be able to complete the public offering on the anticipated terms. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and SPX undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. Investor Contacts:Mark A. Carano, Vice President, Chief Financial Officer and TreasurerPhone: 980.474.3806Email: spx.investor@spx.com Source: SPX Technologies

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