SPX Technologies Enters Material Definitive Agreement

TL;DR

**SPXC just signed a big deal, watch for details on what it means for the stock!**

AI Summary

SPX Technologies, Inc. filed an 8-K on February 8, 2024, to report an "Entry into a Material Definitive Agreement" that occurred on February 7, 2024. This filing indicates that the company has entered into a significant contract or agreement, which could impact its future operations, revenue, or strategic direction. For investors, this matters because material agreements often signal new business opportunities, partnerships, or changes in financial obligations that could affect the stock's valuation.

Why It Matters

This filing signals a potentially significant business development for SPX Technologies, which could lead to new revenue streams or strategic shifts, directly influencing the company's financial performance and stock price.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement but lacks specific details, creating uncertainty about its financial impact and implications.

Analyst Insight

Investors should await further details or a subsequent filing (like a 10-Q or 10-K) that would disclose the specifics of this material definitive agreement to understand its potential impact on SPX Technologies' financials and future outlook.

Key Players & Entities

• SPX Technologies, Inc. (company) — the registrant filing the 8-K
• New York Stock Exchange (company) — where SPX Technologies' Common Stock is registered
• February 7, 2024 (date) — date of the earliest event reported
• February 8, 2024 (date) — date the 8-K was filed
• $0.01 (dollar_amount) — par value of Common Stock

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 SPXC New York Stock Exchange Indicate

Filing Documents

• spxc-20240207.htm (8-K) — 29KB
• 0000088205-24-000002.txt ( ) — 156KB
• spxc-20240207.xsd (EX-101.SCH) — 2KB
• spxc-20240207_lab.xml (EX-101.LAB) — 25KB
• spxc-20240207_pre.xml (EX-101.PRE) — 13KB
• spxc-20240207_htm.xml (XML) — 3KB

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement. On February 7, 2024, 15738393 Canada Inc. (the "Purchaser"), an indirect wholly-owned subsidiary of SPX Technologies, Inc. (the "Company"), entered into a Share Purchase Agreement dated as of February 7, 2024 (the "Purchase Agreement") with 15737338 Canada Inc. ("Newco 2"), Giuseppe Racanelli Family Trust ("G. Family Trust"), Lise Daigle Family Trust ("L. Family Trust", and collectively with Newco 2 and G. Family Trust, the "Vendors"), Giuseppe J. Racanelli, as representative of the Vendors, 12508991 Canada Inc. ("991"), 12509008 Canada Inc. ("008" and collectively with 991, the "Target Corporations"), 3566382 Canada Inc. ("382", and collectively with 991 and 008, the "Purchased Holdcos"), Gestion Racan Inc. ("Gestion Racan"), Ingnia Technologies Inc. ("Ingnia" and collectively with Gestion Racan, the "Operating Entities"), 15736854 Canada Inc. (the "Guarantor"), as guarantor of the obligations of the Vendors, and solely for the purposes of Section 6.6(b) of the Purchase Agreement, 15637406 Canada Inc. and 15708869 Canada Inc. Pursuant to the Purchase Agreement, on February 7, 2024 the Purchaser purchased from the Vendors all of the issued and outstanding shares of the Target Corporations (which are the ultimate parent entities of 382 and the Operating Companies and together with 382 and the Operating Companies are referred to as the "Ingnia Group") for aggregate consideration of approximately $(Cdn.)405 million in cash (subject to customary closing date adjustments (the "Adjustments") for specified net working capital, cash, indebtedness and transaction related expenses of the Ingnia Group). The Purchase Agreement provides that, contemporaneously with the consummation of the purchase of the Target Companies, that the Purchaser deposit approximately $(Cdn.)2,462,500 of the purchase price in an escrow account to be applied to fund downward Adjustments to the purchase price and specified indemnification oblig

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SPX TECHNOLOGIES, INC. (Registrant) Date: February 8, 2024 By: /s/ JOHN W. NURKIN John W. Nurkin Vice President, General Counsel and Secretary 3

View Full Filing

View this 8-K filing on SEC EDGAR