secwatch.observer — SEC 8-K summary
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Issuer:     ASTEC INDUSTRIES INC (ASTE)
CIK:        0000792987
Form:       8-K
Filed at:   2025-05-02T23:59:59+00:00
Accession:  0001104659-25-044104
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Astec to acquire TerraSource Holdings for $245M in cash-free, debt-free deal
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- Total consideration of $245M on a cash-free, debt-free basis, subject to customary purchase price adjustments.
- Acquisition funded by new $150M revolver and $350M term loan from Wells Fargo, plus cash on hand.
- Closing expected by August 1, 2025, conditioned on HSR clearance and other customary conditions.
- Astec required to pay a $15M termination fee if it fails to close when all conditions are met.
- TerraSource manufactures material processing equipment for crushing, screening, and separation, complementing Astec's portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792987/000110465925044104/0001104659-25-044104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792987/000110465925044104/tm2513690d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-044104

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