---
schema_version: "secwatch.filing_event.v1"
accession: "0001514705-25-000010"
form_type: "8-K"
ticker: "SXC"
cik: "0001514705"
company_name: "SunCoke Energy, Inc."
filed_at: "2025-05-28T23:59:59+00:00"
generated_at: "2026-05-20T07:53:38.392026+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SunCoke acquires Phoenix Global for $325M cash; deal implies 5.4x EBITDA, expected H2 2025

## Summary
- Base purchase price $325M in cash, funded from existing cash and undrawn revolver.
- Implied multiple of 5.4x LTM Adjusted EBITDA of $61M as of 3/31/25.
- Expected annual synergies of $5M-$10M; acquisition immediately accretive.
- Expands into EAF and international markets; long-term fixed-revenue contracts limit commodity exposure.
- Transaction expected to close in H2 2025; 80% of Phoenix unitholders already support; HSR and Romanian FDI conditions apply.

## SEC filing metadata
- accession: 0001514705-25-000010
- form_type: 8-K
- ticker: SXC
- cik: 0001514705
- company_name: SunCoke Energy, Inc.
- filed_at: 2025-05-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1514705/000151470525000010/0001514705-25-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1514705/000151470525000010/sxc-20250528.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001514705-25-000010
- JSON: https://secwatch.observer/filing/0001514705-25-000010.json
- Plain text: https://secwatch.observer/filing/0001514705-25-000010.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.