secwatch.observer — SEC 8-K summary
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Issuer:     CHART INDUSTRIES INC (GTLS)
CIK:        0000892553
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0001193125-22-280686
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chart Industries to acquire Howden for $4.4B in cash and preferred stock
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- Purchase price $4.4B; cash consideration min $1.83B, stock consideration ~$1.1B in new Series A Preferred Stock.
- Howden acquired from KPS Capital Partners; expected close first half 2023, subject to regulatory approvals.
- Combined pro forma revenue ~$3.4B (TTM Aug 2022); 12.9x Howden adjusted EBITDA, 8.5x including $175M yr-1 cost synergies.
- Annual cost synergies targeted $175M in year one, $250M by year three; commercial synergies $350M annually by year three.
- Debt financing arranged: $3.375B bridge loan facility from JPMorgan and Morgan Stanley, plus up to $1B backstop revolver.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/892553/000119312522280686/0001193125-22-280686-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/892553/000119312522280686/d411515d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-280686

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