secwatch.observer — SEC 8-K summary
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Issuer:     Crane Co (CR)
CIK:        0001944013
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001193125-23-089719
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.03, 5.03, 5.01, 5.02, 5.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crane Company completes spin-off from Crane NXT; draws $300M term loan, appoints new board and leadership
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- Crane Company becomes independent public company; common stock (CR) starts trading on NYSE April 4, 2023.
- Drew full $300M under senior unsecured term loan; $275M paid as dividend to Crane NXT pre-spin.
- Board expanded to nine directors; James L.L. Tullis named chairman, Sanjay Kapoor added effective April 3.
- Executive team: Max H. Mitchell CEO, Richard A. Maue CFO, Anthony M. D'Iorio GC; Marijane Papanikolaou to become CAO on April 24.
- Separation agreement, transition services, tax, employee, and IP matters agreements executed with Crane NXT (now CXT).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1944013/000119312523089719/0001193125-23-089719-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1944013/000119312523089719/d491941d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-089719

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