Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Crane NXT, Co. incurred term loan of $350 million.
- Instrument
- term loan
- Principal
- $350 million
- Event
- incurrence
Exact text from the filing
On March 31, 2023, Crane NXT drew down the full $350 million available under the Term Loan.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Martin R. Benante resigned as Director at Crane NXT, Co..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Martin R. Benante, Ronald C. Lindsay, Charles G. McClure, Jr. and Jennifer M. Pollino resigned from his or her position as a director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Charles G. McClure, Jr. resigned as Director at Crane NXT, Co..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Martin R. Benante, Ronald C. Lindsay, Charles G. McClure, Jr. and Jennifer M. Pollino resigned from his or her position as a director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ronald C. Lindsay resigned as Director at Crane NXT, Co..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Martin R. Benante, Ronald C. Lindsay, Charles G. McClure, Jr. and Jennifer M. Pollino resigned from his or her position as a director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Cristen Kogl was appointed as Director at Crane NXT, Co..
- Action
- appointed
- Role
- Director
Exact text from the filing
each of Aaron W. Saak, William Grogan and Cristen Kogl was appointed to serve as an additional director on the Crane NXT Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Aaron W. Saak was appointed as Director at Crane NXT, Co..
- Action
- appointed
- Role
- Director
Exact text from the filing
each of Aaron W. Saak, William Grogan and Cristen Kogl was appointed to serve as an additional director on the Crane NXT Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jennifer M. Pollino resigned as Director at Crane NXT, Co..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Martin R. Benante, Ronald C. Lindsay, Charles G. McClure, Jr. and Jennifer M. Pollino resigned from his or her position as a director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
William Grogan was appointed as Director at Crane NXT, Co..
- Action
- appointed
- Role
- Director
Exact text from the filing
each of Aaron W. Saak, William Grogan and Cristen Kogl was appointed to serve as an additional director on the Crane NXT Board
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Crane NXT, Co.: Amended and restated bylaws to update director nomination procedures, adopt an exclusive forum provision, and make other administrative changes (effective 2023-04-03).
- Change
- bylaw amendment
- Effective
- 2023-04-03
Exact text from the filing
In addition, on April 3, 2023, the by-laws of Crane NXT were amended and restated (the “Amended and Restated By-laws”), effective as of the Spin-Off.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Crane NXT, Co.: Changed company name from 'Crane Holdings, Co.' to 'Crane NXT, Co.' via certificate of amendment to the certificate of incorporation (effective 2023-04-03).
- Change
- charter amendment
- Effective
- 2023-04-03
Exact text from the filing
On April 3, 2023, Crane NXT filed a Certificate of Amendment (the “Certificate of Amendment”) to Crane NXT’s Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware, which became effective as of immediately following the consummation of the Spin-Off, pursuant to which Crane NXT changed its name from “Crane Holdings, Co.” to “Crane NXT, Co.” (the “Name Change”).
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Crane NXT, Co. completed a disposition involving Crane Company (closed 2023-04-03).
- Action
- disposition
- Counterparty
- Crane Company
- Closing
- 2023-04-03
Exact text from the filing
Effective as of 5:00 p.m. New York City time on April 3, 2023 (the “Distribution Date”), Crane NXT completed the Spin-Off through a pro rata distribution to holders of record of Crane NXT’s common stock, par value $1.00 per share (“Crane NXT Common Stock”), as of 5:00 p.m. New York City time on March 23, 2023 (the “Record Date”), of one share of Crane Company’s common stock, par value $1.00 per share (“Crane Company Common Stock”), for every one share of Crane NXT Common Stock held by such Crane NXT stockholders as of the Record Date (the “Distribution”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Crane NXT, Co. entered into Tax Matters Agreement with Crane Company valued at governs rights, responsibilities and obligations after Spin-Off regarding tax liabilities and benefi (effective 2023-04-03).
- Action
- entry
- Counterparty
- Crane Company
- Value
- governs rights, responsibilities and obligations after Spin-Off regarding tax liabilities and benefi
- Effective
- 2023-04-03
Exact text from the filing
On April 3, 2023, Crane NXT and Crane Company entered into a Tax Matters Agreement which, among other things, governs Crane NXT’s and Crane Company’s respective rights, responsibilities and obligations after the Spin-Off with respect to tax liabilities and benefits
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Crane NXT, Co. entered into Transition Services Agreement with Crane Company valued at provides for transition of support services for up to 18 months (effective 2023-04-03).
- Action
- entry
- Counterparty
- Crane Company
- Value
- provides for transition of support services for up to 18 months
- Effective
- 2023-04-03
Exact text from the filing
On April 3, 2023, Crane NXT and Crane Company entered into a Transition Services Agreement to provide for the transition of Crane Holdings, Co. into two independent, publicly-traded companies (Crane NXT and Crane Company), and to allow each party time to replace certain assets and employees that have been allocated to the other party.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Crane NXT, Co. entered into Separation and Distribution Agreement with Crane Company valued at sets forth agreements regarding principal transactions to effect the Spin-Off and ongoing relationsh (effective 2023-04-03).
- Action
- entry
- Agreement
- supply
- Counterparty
- Crane Company
- Value
- sets forth agreements regarding principal transactions to effect the Spin-Off and ongoing relationsh
- Effective
- 2023-04-03
Exact text from the filing
On April 3, 2023, Crane NXT, Co., which, prior to the Name Change (as defined below) was known as Crane Holdings, Co. (“Crane NXT”), entered into definitive agreements with Crane Company, a then wholly-owned subsidiary of Crane NXT (“Crane Company”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Crane NXT, Co. entered into Employee Matters Agreement with Crane Company valued at governs rights, responsibilities and obligations after Spin-Off regarding employees and employee ben (effective 2023-04-03).
- Action
- entry
- Counterparty
- Crane Company
- Value
- governs rights, responsibilities and obligations after Spin-Off regarding employees and employee ben
- Effective
- 2023-04-03
Exact text from the filing
On April 3, 2023, Crane NXT and Crane Company entered into an Employee Matters Agreement which, among other things, governs Crane NXT’s, Crane Company’s and their respective subsidiaries’ rights, responsibilities and obligations after the Spin-Off with respect to the following matters: (i) employees and former employees
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Crane NXT, Co. entered into Intellectual Property Matters Agreement with Crane Company valued at governs intellectual property matters in connection with the Spin-Off (effective 2023-04-03).
- Action
- entry
- Agreement
- supply
- Counterparty
- Crane Company
- Value
- governs intellectual property matters in connection with the Spin-Off
- Effective
- 2023-04-03
Exact text from the filing
These agreements include the Separation and Distribution Agreement (as described below), which contains certain key provisions related to the Spin-Off, as well as a Transition Services Agreement, a Tax Matters Agreement, an Employee Matters Agreement and an Intellectual Property Matters Agreement
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.