SPX Technologies to acquire ASPEQ for $418M in cash via merger

SPX Technologies, Inc.

SPX Enterprises (subsidiary of SPX) to buy ASPEQ for $418M cash, subject to typical closing adjustments.
Each share of ASPEQ common stock will be converted into cash consideration; vested options also cashed out.
Merger conditions include HSR antitrust clearance, stockholder approval, and absence of Material Adverse Effect.
Transaction expected to close by August 26, 2023, unless terminated earlier under specified conditions.
SPX has best efforts obligations for regulatory approvals and will pay for representation and warranty insurance.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SPX Technologies, Inc. entered into Agreement and Plan of Merger with ASPEQ Parent Holdings, Inc. valued at approximately $418 million (effective 2023-04-28).

Action: entry
Agreement: merger
Counterparty: ASPEQ Parent Holdings, Inc.
Value: approximately $418 million
Effective: 2023-04-28

Exact text from the filing

entered into an Agreement and Plan of Merger dated as of April 28, 2023 (the “Merger Agreement”) with ASPEQ Parent Holdings, Inc.

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SPX Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0000088205-23-000016

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