secwatch.observer — SEC 8-K summary
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Issuer:     CHART INDUSTRIES INC (GTLS)
CIK:        0000892553
Form:       8-K
Filed at:   2023-03-17T23:59:59+00:00
Accession:  0001193125-23-074104
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chart closes $4.4B Howden acquisition; targets $175M cost & $150M commercial synergies
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- Purchase price of approx. $4.4B paid solely in cash; funded by cash, debt/equity, and $1.5348B term loan tranche.
- Howden Q4 2022 gross orders hit record $534M; full-year 2022 orders were $2.064B; backlog $1.3B as of Dec 31, 2022.
- Chart on track to meet or exceed $175M annualized cost synergies and $150M commercial synergies within 12 months.
- Potential divestitures of two product lines underway, expected to close in Q2 or early Q3 2023.
- FY2023 guidance includes full-year Chart plus ~9 months of Howden ownership; Q1 2023 orders through Mar 15 exceeded $520M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/892553/000119312523074104/0001193125-23-074104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/892553/000119312523074104/d487126d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-074104

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