secwatch.observer — SEC 8-K summary
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Issuer:     CHART INDUSTRIES INC (GTLS)
CIK:        0000892553
Form:       8-K
Filed at:   2023-08-18T23:59:59+00:00
Accession:  0001193125-23-215494
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chart closes $300M sale of Roots to Ingersoll Rand; proceeds cut debt
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- Sale closed for $300M all-cash, low-teens adjusted EBITDA multiple.
- Proceeds used for debt paydown; net leverage target 2.5-2.9X by mid-2024.
- Roots moved to discontinued operations effective March 17, 2023.
- Pro forma net leverage ratio 3.72X as of June 30 after divestiture and expected Cofimco cash.
- Chart reaffirms year-one cost synergy target of $175M and commercial synergy target of $150M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/892553/000119312523215494/0001193125-23-215494-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/892553/000119312523215494/d549014d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-215494

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer