Crawford United to be acquired by SPX Enterprises for $300M, $83.42/share cash

CRAWFORD UNITED Corp

Approximately $83.42 per share in cash, representing total enterprise value of $300 million.
Transaction expected to close in Q1 2026, subject to shareholder approval and regulatory clearances.
Board unanimously approved; directors and officers representing ~72% voting power support via voting agreements.
Executives and Chairman to receive transaction bonuses: $1M for CEO/Chairman, $500K for CFO, plus performance bonuses.
No-shop provision with fiduciary out; termination fee of $9 million.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CRAWFORD UNITED Corp entered into Agreement and Plan of Merger with SPX Enterprises, LLC and Project King Acquisition, Inc. valued at $300 million (effective 2025-12-05).

Action: entry
Agreement: merger
Counterparty: SPX Enterprises, LLC and Project King Acquisition, Inc.
Value: $300 million
Effective: 2025-12-05

Exact text from the filing

On December 5, 2025, Crawford United Corporation, an Ohio corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with SPX Enterprises, LLC, a Delaware limited liability company (“Parent”), and Project King Acquisition, Inc., an Ohio corporation and wholly owned subsidiary of Parent (“Merger Sub”).

View on SEC.gov

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Source: SEC EDGAR

accession 0001437749-25-037082

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