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[8-K] Crane NXT, Co. Reports Material Event

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Rhea-AI Filing Summary

Crane NXT, Co. disclosed a transaction involving the sale of Antares Vision group assets and related sale and purchase agreements that require customary closing conditions, including antitrust clearance and Italian foreign investment authorization. The company purchased buyer-side representations and warranties insurance and entered into ancillary agreements and a Warranty Deed with customary warranties. To support the transactions, on September 15, 2025, Crane NXT obtained a commitment for a $602 million 364-day senior secured bridge facility and a $831 million 364-day backstop facility from Goldman Sachs Bank USA. The Bridge Facility carries Term SOFR plus 175 basis points initially, steps up every 90 days, and imposes a 5.50x total net leverage covenant. The agreements include customary termination rights if closing conditions are not met by January 12, 2026.

Crane NXT, Co. ha comunicato una transazione riguardante la vendita di asset del gruppo Antares Vision e relativi accordi di vendita e acquisto che richiedono condizioni di chiusura usuali, inclusa l'autorizzazione antitrust e l'autorizzazione italiana agli investimenti esteri. L’azienda ha stipulato un’assicurazione a copertura di rappresentazioni e garanzie a favore dell’acquirente e ha sottoscritto accordi accessori e un atto di garanzia con garanzie consuete. Per supportare le transazioni, il 15 settembre 2025 Crane NXT ha ottenuto un impegno per una $602 milioni di facility bridge senior secured a 364 giorni e una $831 milioni di facility di backstop a 364 giorni da Goldman Sachs Bank USA. La Bridge Facility prevede un tasso Term SOFR più 175 punti base inizialmente, con incremento ogni 90 giorni, e impone una covenant di leverage netto totale di 5,50x. Gli accordi includono diritti di risoluzione tipici se le condizioni di chiusura non sono soddisfatte entro il 12 gennaio 2026.

Crane NXT, Co. divulgó una transacción que involucra la venta de activos del grupo Antares Vision y acuerdos de venta y compra relacionados que requieren condiciones de cierre habituales, incluida la aprobación antimonopolio y la autorización italiana de inversión extranjera. La empresa obtuvo una póliza de seguros de representations y warranties a favor del comprador y firmó acuerdos accesorios y un Warranty Deed con garantías habituales. Para respaldar las transacciones, el 15 de septiembre de 2025, Crane NXT obtuvo un compromiso para una facilidad puente senior secured de 364 días por 602 millones de dólares y una facilidad de backstop de 364 días por 831 millones de dólares de Goldman Sachs Bank USA. La Bridge Facility lleva un interés Term SOFR más 175 puntos base inicialmente, con aumentos cada 90 días, y aplica una covenant de apalancamiento neto total de 5,50x. Los acuerdos incluyen derechos de terminación habituales si las condiciones de cierre no se cumplen para el 12 de enero de 2026.

Crane NXT, Co.가 Antares Vision 그룹 자산의 매각 및 매매계약 관련 거래를 공개했으며, 일반적인 종결 조건(반독점 승인가 및 이탈리아 외국투자 허가)을 필요로 하는 매각 및 매매 계약이 수반됩니다. 회사는 매수자 측 진술 및 보증 보험을 구입하고 보통의 보증을 포함한 보조 합의 및 보증서(Warranty Deed)를 체결했습니다. 거래를 지원하기 위해 2025년 9월 15일 Crane NXT는 Goldman Sachs Bank USA로부터 364일 만기 6억 2천만 달러의 1차 브리지 시설과 364일 만기 8억 3천1백만 달러의 백스톱 시설에 대한 약정을 얻었습니다. 브리지 시설은 초기에 Term SOFR + 175bp를 적용하고 90일마다 단계적으로 상승하며 총 순차입 레버리지 5.50배의 제한을 둡니다. 이 계약에는 종결 조건이 2026년 1월 12일까지 충족되지 않으면 일반적으로 해지 권리가 포함됩니다.

Crane NXT, Co. a dévoilé une transaction impliquant la vente d’actifs du groupe Antares Vision et des accords de vente et d’achat associés qui nécessitent des conditions de clôture habituelles, notamment l’autorisation antitrust et l’autorisation italienne pour l’investissement étranger. La société a souscrit une assurance sur les déclarations et garanties en faveur de l’acheteur et a conclu des accords accessoires et un Warranty Deed avec des garanties habituelles. Pour soutenir les transactions, le 15 septembre 2025, Crane NXT a obtenu un engagement pour une facilité bridge senior secured de 364 jours de 602 millions de dollars et une facilité de backstop de 364 jours de 831 millions de dollars auprès de Goldman Sachs Bank USA. La Bridge Facility prévoit un taux Term SOFR plus 175 points de base au début, avec des augmentations tous les 90 jours, et impose une covenant de levier net total de 5,50x. Les accords prévoient des droits de résiliation habituels si les conditions de clôture ne sont pas remplies d’ici le 12 janvier 2026.

Crane NXT, Co. hat eine Transaktion bekannt gegeben, die den Verkauf von Vermögenswerten der Antares Vision-Gruppe und dazugehörige Verkaufs- und Erwerbsvereinbarungen umfasst, die gängige Closing-Bedingungen erfordern, einschließlich kartellrechtlicher Freigaben und der italienischen Auslandsinvestitionsgenehmigung. Das Unternehmen hat eine Käuferseitige Representations and Warranties Insurance erworben und ergänzende Vereinbarungen sowie eine Warranty Deed mit üblichen Garantien unterzeichnet. Zur Unterstützung der Transaktionen erhielt Crane NXT am 15. September 2025 eine Verpflichtung für eine 364-tägige senior secured Bridge-Facility in Höhe von 602 Mio. USD und eine 364-tägige Backstop-Facility in Höhe von 831 Mio. USD von der Goldman Sachs Bank USA. Die Bridge Facility sieht eine Anfangsverzinsung von Term SOFR zuzüglich 175 Basispunkten vor, die alle 90 Tage ansteigt, und setzt eine 5,50x Gesamtnetto-Leverage-Kovenant fest. Die Vereinbarungen enthalten übliche Kündigungsrechte, wenn die Closing-Bedingungen bis zum 12. Januar 2026 nicht erfüllt sind.

Crane NXT, Co. أعلنت عن صفقة تتعلق ببيع أصول مجموعة Antares Vision وآليات البيع والشراء المرتبطة التي تتطلب شروط إغلاق اعتيادية، بما في ذلك موافقة مكافحة الاحتكار وتفويض الاستثمار الأجنبي الإيطالي. اشترت الشركة تأميناً على التصريحات والضمانات لصالح الطرف المشتري ووقعت اتفاقيات ثانوية وعقد ضمانات (Warranty Deed) مع ضمانات اعتيادية. لدعم المعاملات، في 15 سبتمبر 2025 حصلت Crane NXT على التزام بـ تسهيل بريدج مضمونة عالي الأولوية لمدة 364 يومًا بقيمة 602 مليون دولار وتسهيل باكستوب لمدة 364 يومًا بقيمة 831 مليون دولار من Goldman Sachs Bank USA. يحمّل Bridge Facility فائدة Term SOFR زائد 175 نقطة أساس في البداية، ويرتفع كل 90 يومًا، ويفرض قيد الرفع الكلي صاحب صافي 5.50x. تتضمن الاتفاقات حقوق إنهاء اعتيادية إذا لم تتحقق شروط الإغلاق بحلول 12 يناير 2026.

Crane NXT, Co. 公布了一项涉及出售 Antares Vision 集团资产及相关买卖协议的交易，这些协议需要包括常规的成交条件，如反垄断审批和意大利对外投资许可。公司为买方利益购买了陈述与保证保险，并签署了附带协议及带有常规定保证的保证契约（Warranty Deed）。为支持交易，2025年9月15日，Crane NXT 获得来自高盛银行（美国）的一项承诺，包含一个6亿美元、364天的高级担保过渡融资（Bridge Facility）及一项8.31亿美元、364天的后备融资（Backstop Facility）。Bridge Facility 初始利率为 Term SOFR 加 175 个基点，90天调整一次，并设定一个总净杠杆为 5.50x的 covenant。协议包括在若在2026年1月12日前未满足成交条件时的常规终止权。

Positive
  • Committed financing in place: $602M bridge and $831M backstop commitments from Goldman Sachs provide clear funding capacity for the transactions
  • Buyer-side R&W insurance purchased: limits the company’s direct recourse for warranty breaches and reduces indemnity exposure
  • Backstop facility provides contingency: can replace term and revolving loans if the company cannot obtain an amendment to its Existing Credit Agreement
  • Customary covenants and termination rights: allocation of risks and protections are documented and time-limited (deadline January 12, 2026)
Negative
  • High leverage covenant: a 5.50x total net leverage financial maintenance covenant could constrain flexibility and trigger covenant risk if leverage is elevated
  • Rising financing cost: interest at Term SOFR +175bps with 50bps step-ups every 90 days increases financing expense the longer the bridge remains outstanding
  • Deal completion conditional: consummation depends on antitrust clearance, Italian foreign investment authorization, and non-occurrence of material adverse changes
  • Limited warranty recourse: reliance on insurance as the primary recourse may leave some post-closing indemnity exposure effectively insured rather than borne by counterparties

Insights

TL;DR: The company secured large short-term committed financing to support a strategic sale, but the bridge bears leverage and step-up interest risks.

The commitment for a $602 million bridge and $831 million backstop facility provides clear funding capacity to complete the Antares Vision sales without an immediate financing contingency. Buyer-side representations and warranties insurance limits recourse for warranty breaches, shifting execution risk to the insurer. The bridge’s financial maintenance covenant of 5.50x net leverage and interest margin that increases every 90 days create refinancing and covenant pressure if the transaction or permanent financing is delayed. Regulatory approvals and customary closing conditions remain outstanding, leaving deal completion conditional.

TL;DR: Committed bridge and backstop facilities demonstrate sponsor-level financing support but raise short-term liquidity and refinancing considerations.

The backstop facility’s role to replace term loans under the existing credit agreement shows contingency planning for integration of transaction financing into the company’s capital structure. The ability to seek permanent financing instead of drawing the bridge provides optionality. Termination rights tied to a January 12, 2026 deadline and conditions including Hart-Scott-Rodino and Italian foreign investment approval are material execution contingencies. Overall, the financing package is typical for sizeable carve-out transactions but carries standard short-duration and covenant risks.

Crane NXT, Co. ha comunicato una transazione riguardante la vendita di asset del gruppo Antares Vision e relativi accordi di vendita e acquisto che richiedono condizioni di chiusura usuali, inclusa l'autorizzazione antitrust e l'autorizzazione italiana agli investimenti esteri. L’azienda ha stipulato un’assicurazione a copertura di rappresentazioni e garanzie a favore dell’acquirente e ha sottoscritto accordi accessori e un atto di garanzia con garanzie consuete. Per supportare le transazioni, il 15 settembre 2025 Crane NXT ha ottenuto un impegno per una $602 milioni di facility bridge senior secured a 364 giorni e una $831 milioni di facility di backstop a 364 giorni da Goldman Sachs Bank USA. La Bridge Facility prevede un tasso Term SOFR più 175 punti base inizialmente, con incremento ogni 90 giorni, e impone una covenant di leverage netto totale di 5,50x. Gli accordi includono diritti di risoluzione tipici se le condizioni di chiusura non sono soddisfatte entro il 12 gennaio 2026.

Crane NXT, Co. divulgó una transacción que involucra la venta de activos del grupo Antares Vision y acuerdos de venta y compra relacionados que requieren condiciones de cierre habituales, incluida la aprobación antimonopolio y la autorización italiana de inversión extranjera. La empresa obtuvo una póliza de seguros de representations y warranties a favor del comprador y firmó acuerdos accesorios y un Warranty Deed con garantías habituales. Para respaldar las transacciones, el 15 de septiembre de 2025, Crane NXT obtuvo un compromiso para una facilidad puente senior secured de 364 días por 602 millones de dólares y una facilidad de backstop de 364 días por 831 millones de dólares de Goldman Sachs Bank USA. La Bridge Facility lleva un interés Term SOFR más 175 puntos base inicialmente, con aumentos cada 90 días, y aplica una covenant de apalancamiento neto total de 5,50x. Los acuerdos incluyen derechos de terminación habituales si las condiciones de cierre no se cumplen para el 12 de enero de 2026.

Crane NXT, Co.가 Antares Vision 그룹 자산의 매각 및 매매계약 관련 거래를 공개했으며, 일반적인 종결 조건(반독점 승인가 및 이탈리아 외국투자 허가)을 필요로 하는 매각 및 매매 계약이 수반됩니다. 회사는 매수자 측 진술 및 보증 보험을 구입하고 보통의 보증을 포함한 보조 합의 및 보증서(Warranty Deed)를 체결했습니다. 거래를 지원하기 위해 2025년 9월 15일 Crane NXT는 Goldman Sachs Bank USA로부터 364일 만기 6억 2천만 달러의 1차 브리지 시설과 364일 만기 8억 3천1백만 달러의 백스톱 시설에 대한 약정을 얻었습니다. 브리지 시설은 초기에 Term SOFR + 175bp를 적용하고 90일마다 단계적으로 상승하며 총 순차입 레버리지 5.50배의 제한을 둡니다. 이 계약에는 종결 조건이 2026년 1월 12일까지 충족되지 않으면 일반적으로 해지 권리가 포함됩니다.

Crane NXT, Co. a dévoilé une transaction impliquant la vente d’actifs du groupe Antares Vision et des accords de vente et d’achat associés qui nécessitent des conditions de clôture habituelles, notamment l’autorisation antitrust et l’autorisation italienne pour l’investissement étranger. La société a souscrit une assurance sur les déclarations et garanties en faveur de l’acheteur et a conclu des accords accessoires et un Warranty Deed avec des garanties habituelles. Pour soutenir les transactions, le 15 septembre 2025, Crane NXT a obtenu un engagement pour une facilité bridge senior secured de 364 jours de 602 millions de dollars et une facilité de backstop de 364 jours de 831 millions de dollars auprès de Goldman Sachs Bank USA. La Bridge Facility prévoit un taux Term SOFR plus 175 points de base au début, avec des augmentations tous les 90 jours, et impose une covenant de levier net total de 5,50x. Les accords prévoient des droits de résiliation habituels si les conditions de clôture ne sont pas remplies d’ici le 12 janvier 2026.

Crane NXT, Co. hat eine Transaktion bekannt gegeben, die den Verkauf von Vermögenswerten der Antares Vision-Gruppe und dazugehörige Verkaufs- und Erwerbsvereinbarungen umfasst, die gängige Closing-Bedingungen erfordern, einschließlich kartellrechtlicher Freigaben und der italienischen Auslandsinvestitionsgenehmigung. Das Unternehmen hat eine Käuferseitige Representations and Warranties Insurance erworben und ergänzende Vereinbarungen sowie eine Warranty Deed mit üblichen Garantien unterzeichnet. Zur Unterstützung der Transaktionen erhielt Crane NXT am 15. September 2025 eine Verpflichtung für eine 364-tägige senior secured Bridge-Facility in Höhe von 602 Mio. USD und eine 364-tägige Backstop-Facility in Höhe von 831 Mio. USD von der Goldman Sachs Bank USA. Die Bridge Facility sieht eine Anfangsverzinsung von Term SOFR zuzüglich 175 Basispunkten vor, die alle 90 Tage ansteigt, und setzt eine 5,50x Gesamtnetto-Leverage-Kovenant fest. Die Vereinbarungen enthalten übliche Kündigungsrechte, wenn die Closing-Bedingungen bis zum 12. Januar 2026 nicht erfüllt sind.

0000025445False00000254452025-09-122025-09-12

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 FORM 8-K

 CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 18, 2025 (September 12, 2025)
CRANE NXT, CO.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
Delaware
1-1657
88-0706021
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
950 Winter Street 4th Floor North
Waltham
MA
02451
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code: 781-755-6868
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $1.00 CXTNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

1

Item 7.01Regulation FD Disclosure.
On September 12, 2025, Crane NXT, Co. (the “Company”) issued a press release announcing, among other things, the signing of the Sale and Purchase Agreements and the Warranty Deed (each as defined below under Item 8.01 of this Current Report), which press release is attached as Exhibit 99.1 hereto, and incorporated into this Item 7.01 by reference. The information contained herein, including the attached press release, is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934 except as may be expressly set forth by specific reference in such filing.
Item 8.01Other Events.
Antares Vision Acquisition

On September 12, 2025, the Company entered into separate sale and purchase agreements (the “Sale and Purchase Agreements”) with Regolo S.p.A. (“Regolo”) and Sargas S.r.l. (“Sargas”), respectively, pursuant to which the Company agreed to acquire an overall stake in Antares Vision S.p.A. (“Antares Vision”), an Italian joint stock company listed on the Italian stock exchange, at a price of €5.00 per share, through a new Italian joint stock company (“BidCo”) to be incorporated with the intent to take Antares Vision private (the “Transaction”).

In addition to the Sale and Purchase Agreements, on September 12, 2025, Regolo, the Company, and Emidio Zorzella, Massimo Bonardi and Fabio Forestelli (jointly, the “Senior Executives”) entered into an Investment and Shareholders’ Agreement (the “Investment and Shareholders’ Agreement”), which governs the investment in BidCo by Regolo and the Senior Executives, directly or indirectly, for an overall participation equal to 10% of BidCo share capital, the launch of a mandatory tender offer under applicable Italian law (the “Offer”) following the closing under the Sale and Purchase Agreements, the rights of the parties during and after the Offer, rights and obligations with respect to the corporate governance of BidCo and Antares Vision, and the commitments of the parties related to the merger between BidCo and Antares Vision, by which Antares Vision will become a subsidiary of the Company. The total enterprise value for 100% of the equity capital and current net debt of Antares Vision is approximately €445 million.

Under the terms of the sale and purchase agreement among Regolo, the Company, and the Senior Executives (the “Regolo Sale and Purchase Agreement”), on the relevant closing date provided for in the Regolo Sale and Purchase Agreement (the “First Closing of the Regolo Sale”) BidCo will purchase from Regolo a first tranche of 16,912,394 ordinary shares of Antares Vision (including a total of 6,850 ordinary shares of Antares Vision held, as of the date of the Regolo Sale and Purchase Agreement by Emidio Zorzella and Massimo Bonardi), representing 23.4% of Antares Vision’s share capital as of the date of the Regolo Sale and Purchase Agreement (the “First Tranche Shares”). Under the terms of the sale and purchase agreement between the Company and Sargas (the “Sargas Sale and Purchase Agreement”), conditional upon the acquisition by BidCo of the First Tranche Shares, BidCo will purchase all of the 6,555,173 ordinary shares of Antares Vision owned by Sargas equal to 9.1% of the share capital of Antares Vision on a fully diluted basis (the “Sargas Shareholding”), at a price per share of €5.00 (the “Sargas Sale”). Following the purchase by BidCo of the First Tranche Shares and of the Sargas Shareholding, BidCo will own 23,467,567 of Antares Vision’s shares, representing 32.5% of its share capital and 26.0% of voting rights on a fully diluted basis, while Regolo and Fabio Forestelli will own 18,865,894 of Antares Vision’s shares, representing 26.2% of its share capital and 41% of voting rights on a fully diluted basis, resulting in an overall shareholding equal to approximately 58.7% of the share capital and 67% of voting rights on a fully diluted basis.

As a result of the purchase of the First Tranche Shares, BidCo will acquire a shareholding required to launch the Offer under Italian law on all the remaining ordinary shares of Antares Vision other than the shares owned by BidCo and the persons acting in concert with it (including Regolo and the Senior Executives). Following the launch of the Offer, on the additional closing date provided for in the Regolo Sale and Purchase Agreement (the “Second Closing of the Regolo Sale”) BidCo will purchase from Regolo the remaining second tranche of 18,174,683 ordinary shares of Antares Vision, as well as 691,211 ordinary shares of Antares Vision from Fabio Forestelli (including 552,969 newly issued ordinary shares to be assigned to Mr. Forestelli following the exercise of the subscription rights pertaining to the same pursuant to the share-based incentive plan approved by the Antares Vision shareholders’ meeting on July 10, 2024, which will be subject to the acceleration of their vesting following the launch of the Offer) (overall, the “Second Tranche Shares”). In particular, pursuant to the Regolo Sale and Purchase Agreement, the completion of the Second Closing of the Regolo Sale will take place, alternatively: (1) on the last date of payment of the consideration for the Offer, if, as a result of the Offer, BidCo holds a total shareholding (including the Second Tranche Shares) equal to at least 67% of the voting rights exercisable in the shareholders’ meetings of Antares Vision, or (2) in any other case, the tenth business day following the date on which the shareholders’ meeting of Antares Vision will resolve on the reverse merger of Antares Vision into BidCo for the purpose of delisting Antares Vision pursuant to applicable Italian law and in accordance with the provisions of the Investment and Shareholders’ Agreement. Each of the Company, Regolo and the Senior Executives have certain put and call rights in respect of the remaining 10% equity interest in BidCo held
2

by Regolo and the Senior Executives, in the aggregate, after giving effect to the Second Closing of the Regolo Sale based on a calculation specified in the Investment and Shareholders’ Agreement, which generally has a three-year period before exercisability subject to earlier acceleration in certain circumstances.

The consummation of the First Closing of the Regolo Sale and the Sargas Sale is subject to customary closing conditions, including the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and receipt of authorization from the Presidency of the Italian Council of Ministries pursuant to Italian foreign direct investment regulation and the non-occurrence of material adverse changes on the financial or business conditions of Antares Vision’s group.

The Regolo Sale and Purchase Agreement contains customary covenants of each of the Company, Regolo and the Senior Executives, respectively, including covenants by Regolo and the Senior Executives relating to the operation of the business of Antares Vision prior to the date of the First Closing of the Regolo Sale. A Warranty Deed among the Company and the Senior Executives (the “Warranty Deed”) includes customary warranties of the Senior Executives regarding the Antares Vision group and its business. In connection with the Transaction, the Company has purchased a buyer-side representations and warranties insurance policy, which will generally be its sole recourse with respect to breaches of the warranties contained in the Regolo Sale and Purchase Agreement, Investment and Shareholders’ Agreement, and Warranty Deed. Each of the Company, Regolo and the Senior Executives have agreed to indemnify the other for certain losses arising out of breaches of post-closing covenants under the Investment and Shareholders’ Agreement.

The Regolo Sale and Purchase Agreement and the Sargas Sale and Purchase Agreement contain customary termination rights for the parties in case the closing conditions precedent are not satisfied by January 12, 2026.

In connection with the Transaction, the Company, Regolo, Sargas and the Senior Executives, or their respective affiliates, will enter into certain ancillary agreements.

Information regarding the subject matter of the warranties made in the Sale and Purchase Agreements and the Warranty Deed may change after the date of the Sale and Purchase Agreements and the Warranty Deed. Accordingly, the description of the Sale and Purchase Agreements and the Warranty Deed is included with this Current Report on Form 8-K only to provide investors with information regarding its terms and not to provide investors with any other factual information regarding the Company, BidCo, Regolo, Sargas, the Senior Executives, their subsidiaries, their affiliates or their businesses as of the date of the Sale and Purchase Agreements and the Warranty Deed or as of any other date.

Bridge Facility

On September 15, 2025, in connection with the Sale and Purchase Agreements, the Company entered into a commitment letter (the “Commitment Letter”) with Goldman Sachs Bank USA (“GS”) pursuant to which GS has committed to provide the Company with (i) a senior secured 364-day bridge credit facility in an aggregate principal amount of $602 million (the “Bridge Facility”) and (ii) a backstop senior secured 364-day credit facility in an aggregate principal amount of $831 million (the “Backstop Facility”).

The Bridge Facility is available to finance the transactions contemplated by the Sale and Purchase Agreements, subject to the satisfaction of conditions to availability set forth in the Commitment Letter. If drawn, the Bridge Facility will have a maturity date of 364 days after its initial drawing, will have an interest rate of Term SOFR plus a margin of 175 basis points (with such interest rate margin stepping up by 50 basis points on each of the 90th day, 180th day and 270th day after the initial funding date thereunder), will have affirmative and negative covenants substantially consistent with those in the Company’s Existing Credit Agreement (as defined below), will have a total net leverage ratio financial maintenance covenant of 5.50 to 1.00 and will have other terms customary for bridge credit facilities of this nature. In lieu of financing the transactions contemplated by the Sale and Purchase Agreements through the use of the Bridge Facility, the Company may seek alternative forms of permanent financing. The consummation of the Transaction is not subject to any financing condition.

Subject to the satisfaction of conditions to availability set forth in the Commitment Letter, the Backstop Facility is available to replace the outstanding term loans and certain revolving loans and commitments under the Company’s Existing Credit Agreement if the Company does not receive a customary amendment under its Existing Credit Agreement to, among other related items, permit the incurrence of the Bridge Facility (if drawn). The commitments in respect of the Backstop Facility will be terminated upon the Company obtaining such amendment. If drawn, the Backstop Facility will have substantially the same terms as those described above for the Bridge Facility, except that a portion of the Backstop Facility will be available on a revolving basis. As used herein, the “Existing Credit Agreement” refers to that certain Credit Agreement, initially dated as of March 17, 2023 (as amended thereafter, the “Existing Credit Agreement”), among the Company, as a borrower, JPMorgan Chase Bank, N.A. as administrative agent, the lenders party thereto and the other parties party thereto.
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Item 9.01Financial Statements and Exhibits.
(d)  Exhibits
Exhibit No.Description of Exhibit
99.1
Press Release, dated September 12, 2025
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


Forward-Looking Statements

This Current Report on Form 8-K may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical information or statements about our current condition. You can identify forward-looking statements by the use of terms such as: “intends,” “believes,” “contemplates,” “expects,” “may,” “plans,” “seeks,” “will,” “could,” “should,” “would,” or “anticipates,” other similar phrases, or the negatives of these terms. Any forward-looking statement speaks only as of the date of this report, and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various risks and uncertainties. You are advised, however, also to consult any further disclosures we make on related subjects in our reports to the Securities and Exchange Commission.
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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.
 
 CRANE NXT, CO.
September 18, 2025  
 By: /s/ Paul G. Igoe
  Paul G. Igoe
Senior Vice President, General
  Counsel and Secretary


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Source: View Original Filing on SEC EDGAR

FAQ

What financing did Crane NXT (CXT) secure for the Antares Vision transaction?

Crane NXT obtained commitments for a $602 million 364-day senior secured bridge facility and a $831 million 364-day backstop facility from Goldman Sachs Bank USA.

What is the interest rate and step-up schedule for the Bridge Facility?

If drawn, the Bridge Facility bears interest at Term SOFR plus 175 basis points, with the margin stepping up by 50 basis points on each of the 90th, 180th and 270th days after initial funding.

Are there financial covenants tied to the Bridge Facility?

Yes, the Bridge Facility includes a total net leverage ratio maintenance covenant of 5.50 to 1.00 and affirmative and negative covenants substantially consistent with the company’s Existing Credit Agreement.

Is the transaction subject to regulatory approvals?

Yes, closing is subject to customary conditions including expiration or termination of HSR waiting periods and authorization from the Presidency of the Italian Council of Ministries under Italian foreign direct investment rules.

What protections exist for warranty breaches in the sale agreements?

The company purchased a buyer-side representations and warranties insurance policy, which will generally be its sole recourse for breaches of the specified warranties.

What is the outside date for completing the transactions?

The Sale and Purchase Agreements contain termination rights if closing conditions are not satisfied by January 12, 2026.
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CXT Latest News

Sep 12, 2025
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Aug 6, 2025
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Crane NXT Announces Dates for Second Quarter 2025 Earnings Release and Earnings Call

CXT Latest SEC Filings

Aug 6, 2025
[10-Q] Crane NXT, Co. Quarterly Earnings Report
Aug 6, 2025
[8-K] Crane NXT, Co. Reports Material Event

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