secwatch.observer — SEC 8-K summary
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Issuer:     SPX Technologies, Inc. (SPXC)
CIK:        0000088205
Form:       8-K
Filed at:   2021-10-07T23:59:59+00:00
Accession:  0000088205-21-000036
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPX Corp completes sale of Transformer Solutions unit for $645M cash
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- Sold SPX Transformer Solutions to GE-Prolec Transformers on Oct 1, 2021 for $645M cash, subject to working capital adjustments.
- Pro forma FY2020 continuing ops revenue $1.13B (vs. $1.56B historical); net income from cont ops $57.9M (vs. $100.7M).
- Pro forma cash and equivalents as of July 3, 2021 were $686M, up from $69.1M historical, reflecting net proceeds.
- General corporate overhead of $4.7M (FY2020) previously allocated to Transformer Solutions remains in continuing operations.
- The sale was previously announced on June 8, 2021; transaction closed on October 1, 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/88205/000008820521000036/0000088205-21-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/88205/000008820521000036/spxc-20211001.htm
  HTML page:      https://secwatch.observer/filing/0000088205-21-000036

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer