SPX Technologies Enters Material Definitive Agreement

TL;DR

SPX Tech just signed a big deal, creating a new financial obligation. Details in the 8-K.

AI Summary

On August 30, 2024, SPX Technologies, Inc. entered into a Material Definitive Agreement related to a direct financial obligation. The filing details the creation of this obligation under an off-balance sheet arrangement.

Why It Matters

This filing indicates a significant financial commitment or obligation for SPX Technologies, Inc., which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new material definitive agreements and financial obligations can introduce financial risks and operational changes that warrant careful consideration.

Key Players & Entities

• SPX Technologies, Inc. (company) — Registrant
• August 30, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 SPXC New York Stock Exchange Indi
• $500.0 million — itments under the Credit Agreement from $500.0 million to $1.0 billion and makes certain confo
• $1.0 billion — Credit Agreement from $500.0 million to $1.0 billion and makes certain conforming changes an

Filing Documents

• tm2423191d1_8k.htm (8-K) — 28KB
• tm2423191d1_ex10-1.htm (EX-10.1) — 1436KB
• 0001104659-24-096375.txt ( ) — 1925KB
• spxc-20240830.xsd (EX-101.SCH) — 3KB
• spxc-20240830_lab.xml (EX-101.LAB) — 33KB
• spxc-20240830_pre.xml (EX-101.PRE) — 22KB
• tm2423191d1_8k_htm.xml (XML) — 3KB

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement. On August 30, 2024 (the "Second Amendment Effective Date"), SPX Enterprises, LLC ("SPXE"), a wholly owned subsidiary of SPX Technologies, Inc. (the "Company"), as the U.S. borrower, entered into a Second Amendment to Amended and Restated Credit Agreement and Incremental Facility Activation Notice (the "Second Amendment") with Bank of America, N.A., as administrative agent (the "Administrative Agent"), the lenders party thereto, and certain domestic subsidiaries of the Company, as guarantors, which amends the Amended and Restated Credit Agreement, dated as of August 12, 2022 (as amended, the "Credit Agreement"), among the Company, as parent, SPXE, as the U.S. borrower, the foreign subsidiary borrowers party thereto, the lenders party thereto, Deutsche Bank AG, as foreign trade facility agent, and the Administrative Agent. The Second Amendment increases the aggregate revolving credit commitments under the Credit Agreement from $500.0 million to $1.0 billion and makes certain conforming changes and other amendments to the Credit Agreement. The Company expects to utilize the increased revolving credit capacity to finance, in part, permitted acquisitions, to pay related fees, costs and expenses and for other lawful corporate purposes. The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amendment, which is filed as Exhibit 10.1 and is incorporated by reference herein. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information included in Item 1.01 hereof is incorporated herein by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Second Amendment to Amended and Restated Credit Agreement and Incremental Facility Activation Notice dated as of August 30, 2024 among SPX Enterprises, LLC, as the U.S. Borrower, SPX Technologies, Inc., the other Guarantors party thereto, Bank of America, N.A., as the Administrative Agent, and the Lenders party thereto 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

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: September 3, 2024 By: /s/ Chere H. Johnson Chere H. Johnson Vice President, Chief Legal Officer and Secretary 3

View Full Filing

View this 8-K filing on SEC EDGAR