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Astec Industries, Inc. (NASDAQ: ASTE) filed an 8-K to report the July 1, 2025 closing of its $245 million cash acquisition of TerraSource Holdings, LLC. The purchase was effected through a Membership Interest Purchase Agreement signed on April 28, 2025 and was completed on a cash-free, debt-free basis, subject to customary post-closing adjustments.

To fund the deal and strengthen liquidity, Astec simultaneously entered into a new $600 million senior secured credit agreement with Wells Fargo as administrative agent. The facilities comprise revolving, term-loan, swingline and letter-of-credit tranches, plus an incremental accordion of up to $150 million. Proceeds from the term loan, combined with cash on hand, financed the acquisition, repaid all borrowings under the company’s prior $250 million revolver (terminated at closing), and covered transaction fees.

Key financing terms: (i) maturity on July 1, 2030; (ii) borrower option of Term SOFR +1.75%-2.75% or Base Rate +0.75%-1.75%, with pricing and commitment fees (0.15%-0.35%) tied to the company’s Consolidated Total Net Leverage Ratio; (iii) secured guarantees from U.S. domestic subsidiaries. Covenants require a Net Leverage Ratio ≤3.50× (up to 4.00× following certain acquisitions) and an Interest Coverage Ratio ≥2.50×, alongside customary negative covenants and change-of-control repayment triggers.

Astec intends to file the required historical and pro forma financial statements for TerraSource within 71 days. A press release announcing the closing was furnished under Item 7.01.

The transaction materially expands Astec’s business while increasing funded debt and related covenant obligations, making the development impactful to investors.

Astec Industries, Inc. (NASDAQ: ASTE) ha depositato un modulo 8-K per comunicare la chiusura, avvenuta il 1° luglio 2025, dell’acquisizione in contanti da 245 milioni di dollari di TerraSource Holdings, LLC. L’acquisto è stato realizzato tramite un Accordo di Acquisto di Quote Societarie firmato il 28 aprile 2025 ed è stato completato su base cash-free e debt-free, soggetto alle consuete rettifiche post-chiusura.

Per finanziare l’operazione e rafforzare la liquidità, Astec ha contestualmente sottoscritto un nuovo accordo di credito senior garantito da 600 milioni di dollari con Wells Fargo come agente amministrativo. Le linee di credito includono tranche revolving, prestiti a termine, swingline e lettere di credito, oltre a un’opzione incrementale fino a 150 milioni di dollari. I proventi del prestito a termine, uniti alla liquidità disponibile, hanno finanziato l’acquisizione, estinto tutti i debiti derivanti dalla precedente linea revolving da 250 milioni (chiusa alla data di chiusura) e coperto le spese di transazione.

Termini chiave del finanziamento: (i) scadenza al 1° luglio 2030; (ii) opzione per il mutuatario tra Term SOFR +1,75%-2,75% oppure Base Rate +0,75%-1,75%, con commissioni di prezzo e impegno (0,15%-0,35%) legate al Rapporto Consolidato di Leva Finanziaria Netto della società; (iii) garanzie garantite dalle filiali statunitensi. I covenant richiedono un Rapporto di Leva Finanziaria Netto ≤3,50× (fino a 4,00× dopo alcune acquisizioni) e un Rapporto di Copertura degli Interessi ≥2,50×, insieme a consueti vincoli negativi e clausole di rimborso in caso di cambi di controllo.

Astec prevede di depositare entro 71 giorni i bilanci storici e pro forma di TerraSource richiesti. Un comunicato stampa che annuncia la chiusura è stato fornito ai sensi della voce 7.01.

L’operazione amplia significativamente il business di Astec, aumentando al contempo il debito finanziato e gli obblighi derivanti dai covenant, rendendo questo sviluppo rilevante per gli investitori.

Astec Industries, Inc. (NASDAQ: ASTE) presentó un formulario 8-K para informar el cierre el 1 de julio de 2025 de su adquisición en efectivo por 245 millones de dólares de TerraSource Holdings, LLC. La compra se realizó mediante un Acuerdo de Compra de Participaciones firmado el 28 de abril de 2025 y se completó en una base libre de efectivo y libre de deuda, sujeto a ajustes post-cierre habituales.

Para financiar la operación y fortalecer la liquidez, Astec simultáneamente suscribió un nuevo acuerdo de crédito senior garantizado por 600 millones de dólares con Wells Fargo como agente administrativo. Las facilidades incluyen tramos revolventes, préstamos a plazo, swingline y cartas de crédito, además de una opción incremental de hasta 150 millones de dólares. Los ingresos del préstamo a plazo, combinados con el efectivo disponible, financiaron la adquisición, pagaron todos los préstamos bajo la línea revolvente anterior de 250 millones (terminada al cierre) y cubrieron los costos de la transacción.

Términos clave del financiamiento: (i) vencimiento el 1 de julio de 2030; (ii) opción del prestatario entre Term SOFR +1.75%-2.75% o Base Rate +0.75%-1.75%, con tarifas de precio y compromiso (0.15%-0.35%) vinculadas a la Relación Consolidada de Apalancamiento Neto de la compañía; (iii) garantías aseguradas de subsidiarias domésticas en EE.UU. Los convenios requieren una Relación de Apalancamiento Neto ≤3.50× (hasta 4.00× tras ciertas adquisiciones) y una Relación de Cobertura de Intereses ≥2.50×, junto con convenios negativos habituales y cláusulas de pago por cambio de control.

Astec tiene previsto presentar los estados financieros históricos y pro forma de TerraSource requeridos dentro de 71 días. Se proporcionó un comunicado de prensa anunciando el cierre bajo el ítem 7.01.

La transacción amplía materialmente el negocio de Astec mientras incrementa la deuda financiada y las obligaciones relacionadas con convenios, haciendo que este desarrollo sea significativo para los inversores.

Astec Industries, Inc. (NASDAQ: ASTE)2025년 7월 1일에 TerraSource Holdings, LLC를 2억 4,500만 달러 현금으로 인수 완료했다는 내용의 8-K 보고서를 제출했습니다. 이 인수는 2025년 4월 28일에 서명된 지분 매매 계약을 통해 이루어졌으며, 현금 및 부채 없는 상태로 완료되었고, 통상적인 마감 후 조정이 적용됩니다.

거래 자금 조달과 유동성 강화를 위해 Astec는 동시에 Wells Fargo를 관리 에이전트로 하는 6억 달러 규모의 선순위 담보 신용 계약을 체결했습니다. 이 신용 시설은 회전 대출, 기한 대출, 스윙라인, 신용장 트랜치 및 최대 1억 5,000만 달러의 추가 확장 옵션으로 구성됩니다. 기한 대출 수익과 현금으로 인수를 자금 조달하고, 기존 2억 5,000만 달러 회전 대출을 모두 상환(마감 시 종료)했으며, 거래 수수료도 충당했습니다.

주요 금융 조건: (i) 만기일은 2030년 7월 1일; (ii) 차입자는 Term SOFR +1.75%-2.75% 또는 기준 금리(Base Rate) +0.75%-1.75% 중 선택 가능하며, 가격 및 약정 수수료(0.15%-0.35%)는 회사의 통합 순부채비율에 연동; (iii) 미국 내 자회사의 담보 보증 포함. 약정 조건은 순부채비율 ≤3.50배(특정 인수 후 최대 4.00배) 및 이자보상배율 ≥2.50배를 요구하며, 통상적인 부정 약정 및 지배권 변경 시 상환 조항도 포함됩니다.

Astec는 71일 이내에 TerraSource의 과거 및 프로포마 재무제표를 제출할 예정입니다. 마감 발표 보도자료는 항목 7.01에 따라 제출되었습니다.

이번 거래는 Astec의 사업을 크게 확장하는 동시에 자금 조달 부채와 관련 약정 의무를 증가시켜 투자자들에게 중요한 영향을 미칩니다.

Astec Industries, Inc. (NASDAQ : ASTE) a déposé un formulaire 8-K pour annoncer la clôture, le 1er juillet 2025, de son acquisition en espèces de TerraSource Holdings, LLC pour 245 millions de dollars. L’achat a été réalisé via un accord d’achat d’intérêts sociaux signé le 28 avril 2025 et a été finalisé sur une base sans trésorerie ni dette, sous réserve des ajustements post-clôture habituels.

Pour financer l’opération et renforcer la liquidité, Astec a simultanément conclu un nouvel accord de crédit senior garanti de 600 millions de dollars avec Wells Fargo en tant qu’agent administratif. Les facilités comprennent des tranches renouvelables, des prêts à terme, une ligne de crédit swingline et des lettres de crédit, ainsi qu’une option d’extension allant jusqu’à 150 millions de dollars. Les produits du prêt à terme, combinés à la trésorerie disponible, ont financé l’acquisition, remboursé tous les emprunts sous la ligne renouvelable précédente de 250 millions de dollars (terminée à la clôture) et couvert les frais de transaction.

Principaux termes du financement : (i) échéance au 1er juillet 2030 ; (ii) option pour l’emprunteur entre Term SOFR +1,75%-2,75% ou taux de base +0,75%-1,75%, avec des frais de tarification et d’engagement (0,15%-0,35%) liés au ratio d’endettement net consolidé de la société ; (iii) garanties sécurisées des filiales américaines. Les covenants exigent un ratio d’endettement net ≤3,50× (jusqu’à 4,00× après certaines acquisitions) et un ratio de couverture des intérêts ≥2,50×, ainsi que des clauses restrictives habituelles et des déclencheurs de remboursement en cas de changement de contrôle.

Astec prévoit de déposer les états financiers historiques et pro forma requis pour TerraSource dans un délai de 71 jours. Un communiqué de presse annonçant la clôture a été fourni conformément à l’article 7.01.

Cette transaction étend considérablement l’activité d’Astec tout en augmentant la dette financée et les obligations liées aux covenants, ce qui rend cet événement important pour les investisseurs.

Astec Industries, Inc. (NASDAQ: ASTE) hat einen 8-K-Bericht eingereicht, um den Abschluss der 245 Millionen US-Dollar Barübernahme von TerraSource Holdings, LLC am 1. Juli 2025 zu melden. Der Kauf erfolgte durch einen am 28. April 2025 unterzeichneten Mitgliedschaftsanteilkaufvertrag und wurde auf einer cash- und schuldenfreien Basis abgeschlossen, vorbehaltlich üblicher nachträglicher Anpassungen.

Zur Finanzierung des Deals und zur Stärkung der Liquidität hat Astec gleichzeitig einen neuen 600 Millionen US-Dollar Senior Secured Kreditvertrag mit Wells Fargo als administrativem Agenten abgeschlossen. Die Kreditfazilitäten umfassen revolvierende, Terminkredit-, Swingline- und Akkreditivtranchen sowie eine zusätzliche Akkordeon-Option von bis zu 150 Millionen US-Dollar. Die Erlöse aus dem Terminkredit zusammen mit vorhandenen Barmitteln finanzierten die Übernahme, tilgten alle Verbindlichkeiten aus der vorherigen revolvierenden Kreditlinie in Höhe von 250 Millionen US-Dollar (die bei Abschluss beendet wurde) und deckten die Transaktionsgebühren.

Wichtige Finanzierungsbedingungen: (i) Fälligkeit am 1. Juli 2030; (ii) Darlehensnehmeroption zwischen Term SOFR +1,75%-2,75% oder Basiszinssatz +0,75%-1,75%, wobei Preis- und Bereitstellungsgebühren (0,15%-0,35%) an das konsolidierte Netto-Verschuldungsverhältnis des Unternehmens gekoppelt sind; (iii) besicherte Garantien von US-amerikanischen Tochtergesellschaften. Klauseln verlangen ein Netto-Verschuldungsverhältnis ≤3,50× (bis zu 4,00× nach bestimmten Akquisitionen) und eine Zinsdeckungsquote ≥2,50× sowie übliche Negativklauseln und Rückzahlungsbedingungen bei Kontrollwechsel.

Astec beabsichtigt, die erforderlichen historischen und pro forma Finanzberichte für TerraSource innerhalb von 71 Tagen einzureichen. Eine Pressemitteilung zur Bekanntgabe des Abschlusses wurde unter Punkt 7.01 bereitgestellt.

Die Transaktion erweitert das Geschäft von Astec erheblich, erhöht jedoch auch die finanzierte Verschuldung und die damit verbundenen Verpflichtungen aus den Klauseln, was diese Entwicklung für Investoren bedeutsam macht.

Positive
  • Completion of $245 million TerraSource acquisition, advancing Astec's stated strategic growth initiatives.
  • Secured new $600 million multi-tranche credit facilities with an additional $150 million accordion, materially expanding liquidity.
Negative
  • Higher secured debt load with leverage covenant up to 3.5× (4.0× post-acquisition) increases financial risk.
  • Floating-rate interest structure subjects Astec to rate volatility through 2030 maturity.

Insights

TL;DR: Transformative $245 M acquisition financed by new $600 M credit; strategic growth outweighs higher leverage—overall positive.

The closing of TerraSource adds a complementary business line at a clear, disclosed price while retiring the outdated $250 M revolver and replacing it with larger, more flexible facilities. The credit agreement’s 5-year tenor, sizeable accordion, and pricing grid tied to leverage give Astec room to integrate TerraSource and pursue further growth. Although leverage could rise toward the 3.5× ceiling, the company negotiated covenants providing temporary headroom up to 4.0× for future M&A, signalling lender confidence. Because the financing is long-dated and partially revolver-based, near-term cash requirements remain manageable. Overall, the filing signals decisive execution of a strategic acquisition with sufficient liquidity, a clear positive for shareholders.

TL;DR: Larger secured facility boosts liquidity but raises leverage risk; impact medium, skewed neutral.

The $600 M facility—over twice the size of the previous revolver—improves liquidity yet introduces higher secured debt ranking ahead of existing unsecured claims. Interest is floating (SOFR/Base), exposing Astec to rate volatility at a time of elevated benchmarks. The covenant package is conventional but still tight: Net Leverage ≤3.5× and Interest Coverage ≥2.5× leave limited margin for operational underperformance post-acquisition. Mandatory repayment upon change of control and standard cross-default provisions increase event risk. While the long-dated maturity (2030) mitigates refinancing pressure, investors should monitor leverage progression and compliance. Hence, the overall credit impact is balanced—neither strongly positive nor negative.

Astec Industries, Inc. (NASDAQ: ASTE) ha depositato un modulo 8-K per comunicare la chiusura, avvenuta il 1° luglio 2025, dell’acquisizione in contanti da 245 milioni di dollari di TerraSource Holdings, LLC. L’acquisto è stato realizzato tramite un Accordo di Acquisto di Quote Societarie firmato il 28 aprile 2025 ed è stato completato su base cash-free e debt-free, soggetto alle consuete rettifiche post-chiusura.

Per finanziare l’operazione e rafforzare la liquidità, Astec ha contestualmente sottoscritto un nuovo accordo di credito senior garantito da 600 milioni di dollari con Wells Fargo come agente amministrativo. Le linee di credito includono tranche revolving, prestiti a termine, swingline e lettere di credito, oltre a un’opzione incrementale fino a 150 milioni di dollari. I proventi del prestito a termine, uniti alla liquidità disponibile, hanno finanziato l’acquisizione, estinto tutti i debiti derivanti dalla precedente linea revolving da 250 milioni (chiusa alla data di chiusura) e coperto le spese di transazione.

Termini chiave del finanziamento: (i) scadenza al 1° luglio 2030; (ii) opzione per il mutuatario tra Term SOFR +1,75%-2,75% oppure Base Rate +0,75%-1,75%, con commissioni di prezzo e impegno (0,15%-0,35%) legate al Rapporto Consolidato di Leva Finanziaria Netto della società; (iii) garanzie garantite dalle filiali statunitensi. I covenant richiedono un Rapporto di Leva Finanziaria Netto ≤3,50× (fino a 4,00× dopo alcune acquisizioni) e un Rapporto di Copertura degli Interessi ≥2,50×, insieme a consueti vincoli negativi e clausole di rimborso in caso di cambi di controllo.

Astec prevede di depositare entro 71 giorni i bilanci storici e pro forma di TerraSource richiesti. Un comunicato stampa che annuncia la chiusura è stato fornito ai sensi della voce 7.01.

L’operazione amplia significativamente il business di Astec, aumentando al contempo il debito finanziato e gli obblighi derivanti dai covenant, rendendo questo sviluppo rilevante per gli investitori.

Astec Industries, Inc. (NASDAQ: ASTE) presentó un formulario 8-K para informar el cierre el 1 de julio de 2025 de su adquisición en efectivo por 245 millones de dólares de TerraSource Holdings, LLC. La compra se realizó mediante un Acuerdo de Compra de Participaciones firmado el 28 de abril de 2025 y se completó en una base libre de efectivo y libre de deuda, sujeto a ajustes post-cierre habituales.

Para financiar la operación y fortalecer la liquidez, Astec simultáneamente suscribió un nuevo acuerdo de crédito senior garantizado por 600 millones de dólares con Wells Fargo como agente administrativo. Las facilidades incluyen tramos revolventes, préstamos a plazo, swingline y cartas de crédito, además de una opción incremental de hasta 150 millones de dólares. Los ingresos del préstamo a plazo, combinados con el efectivo disponible, financiaron la adquisición, pagaron todos los préstamos bajo la línea revolvente anterior de 250 millones (terminada al cierre) y cubrieron los costos de la transacción.

Términos clave del financiamiento: (i) vencimiento el 1 de julio de 2030; (ii) opción del prestatario entre Term SOFR +1.75%-2.75% o Base Rate +0.75%-1.75%, con tarifas de precio y compromiso (0.15%-0.35%) vinculadas a la Relación Consolidada de Apalancamiento Neto de la compañía; (iii) garantías aseguradas de subsidiarias domésticas en EE.UU. Los convenios requieren una Relación de Apalancamiento Neto ≤3.50× (hasta 4.00× tras ciertas adquisiciones) y una Relación de Cobertura de Intereses ≥2.50×, junto con convenios negativos habituales y cláusulas de pago por cambio de control.

Astec tiene previsto presentar los estados financieros históricos y pro forma de TerraSource requeridos dentro de 71 días. Se proporcionó un comunicado de prensa anunciando el cierre bajo el ítem 7.01.

La transacción amplía materialmente el negocio de Astec mientras incrementa la deuda financiada y las obligaciones relacionadas con convenios, haciendo que este desarrollo sea significativo para los inversores.

Astec Industries, Inc. (NASDAQ: ASTE)2025년 7월 1일에 TerraSource Holdings, LLC를 2억 4,500만 달러 현금으로 인수 완료했다는 내용의 8-K 보고서를 제출했습니다. 이 인수는 2025년 4월 28일에 서명된 지분 매매 계약을 통해 이루어졌으며, 현금 및 부채 없는 상태로 완료되었고, 통상적인 마감 후 조정이 적용됩니다.

거래 자금 조달과 유동성 강화를 위해 Astec는 동시에 Wells Fargo를 관리 에이전트로 하는 6억 달러 규모의 선순위 담보 신용 계약을 체결했습니다. 이 신용 시설은 회전 대출, 기한 대출, 스윙라인, 신용장 트랜치 및 최대 1억 5,000만 달러의 추가 확장 옵션으로 구성됩니다. 기한 대출 수익과 현금으로 인수를 자금 조달하고, 기존 2억 5,000만 달러 회전 대출을 모두 상환(마감 시 종료)했으며, 거래 수수료도 충당했습니다.

주요 금융 조건: (i) 만기일은 2030년 7월 1일; (ii) 차입자는 Term SOFR +1.75%-2.75% 또는 기준 금리(Base Rate) +0.75%-1.75% 중 선택 가능하며, 가격 및 약정 수수료(0.15%-0.35%)는 회사의 통합 순부채비율에 연동; (iii) 미국 내 자회사의 담보 보증 포함. 약정 조건은 순부채비율 ≤3.50배(특정 인수 후 최대 4.00배) 및 이자보상배율 ≥2.50배를 요구하며, 통상적인 부정 약정 및 지배권 변경 시 상환 조항도 포함됩니다.

Astec는 71일 이내에 TerraSource의 과거 및 프로포마 재무제표를 제출할 예정입니다. 마감 발표 보도자료는 항목 7.01에 따라 제출되었습니다.

이번 거래는 Astec의 사업을 크게 확장하는 동시에 자금 조달 부채와 관련 약정 의무를 증가시켜 투자자들에게 중요한 영향을 미칩니다.

Astec Industries, Inc. (NASDAQ : ASTE) a déposé un formulaire 8-K pour annoncer la clôture, le 1er juillet 2025, de son acquisition en espèces de TerraSource Holdings, LLC pour 245 millions de dollars. L’achat a été réalisé via un accord d’achat d’intérêts sociaux signé le 28 avril 2025 et a été finalisé sur une base sans trésorerie ni dette, sous réserve des ajustements post-clôture habituels.

Pour financer l’opération et renforcer la liquidité, Astec a simultanément conclu un nouvel accord de crédit senior garanti de 600 millions de dollars avec Wells Fargo en tant qu’agent administratif. Les facilités comprennent des tranches renouvelables, des prêts à terme, une ligne de crédit swingline et des lettres de crédit, ainsi qu’une option d’extension allant jusqu’à 150 millions de dollars. Les produits du prêt à terme, combinés à la trésorerie disponible, ont financé l’acquisition, remboursé tous les emprunts sous la ligne renouvelable précédente de 250 millions de dollars (terminée à la clôture) et couvert les frais de transaction.

Principaux termes du financement : (i) échéance au 1er juillet 2030 ; (ii) option pour l’emprunteur entre Term SOFR +1,75%-2,75% ou taux de base +0,75%-1,75%, avec des frais de tarification et d’engagement (0,15%-0,35%) liés au ratio d’endettement net consolidé de la société ; (iii) garanties sécurisées des filiales américaines. Les covenants exigent un ratio d’endettement net ≤3,50× (jusqu’à 4,00× après certaines acquisitions) et un ratio de couverture des intérêts ≥2,50×, ainsi que des clauses restrictives habituelles et des déclencheurs de remboursement en cas de changement de contrôle.

Astec prévoit de déposer les états financiers historiques et pro forma requis pour TerraSource dans un délai de 71 jours. Un communiqué de presse annonçant la clôture a été fourni conformément à l’article 7.01.

Cette transaction étend considérablement l’activité d’Astec tout en augmentant la dette financée et les obligations liées aux covenants, ce qui rend cet événement important pour les investisseurs.

Astec Industries, Inc. (NASDAQ: ASTE) hat einen 8-K-Bericht eingereicht, um den Abschluss der 245 Millionen US-Dollar Barübernahme von TerraSource Holdings, LLC am 1. Juli 2025 zu melden. Der Kauf erfolgte durch einen am 28. April 2025 unterzeichneten Mitgliedschaftsanteilkaufvertrag und wurde auf einer cash- und schuldenfreien Basis abgeschlossen, vorbehaltlich üblicher nachträglicher Anpassungen.

Zur Finanzierung des Deals und zur Stärkung der Liquidität hat Astec gleichzeitig einen neuen 600 Millionen US-Dollar Senior Secured Kreditvertrag mit Wells Fargo als administrativem Agenten abgeschlossen. Die Kreditfazilitäten umfassen revolvierende, Terminkredit-, Swingline- und Akkreditivtranchen sowie eine zusätzliche Akkordeon-Option von bis zu 150 Millionen US-Dollar. Die Erlöse aus dem Terminkredit zusammen mit vorhandenen Barmitteln finanzierten die Übernahme, tilgten alle Verbindlichkeiten aus der vorherigen revolvierenden Kreditlinie in Höhe von 250 Millionen US-Dollar (die bei Abschluss beendet wurde) und deckten die Transaktionsgebühren.

Wichtige Finanzierungsbedingungen: (i) Fälligkeit am 1. Juli 2030; (ii) Darlehensnehmeroption zwischen Term SOFR +1,75%-2,75% oder Basiszinssatz +0,75%-1,75%, wobei Preis- und Bereitstellungsgebühren (0,15%-0,35%) an das konsolidierte Netto-Verschuldungsverhältnis des Unternehmens gekoppelt sind; (iii) besicherte Garantien von US-amerikanischen Tochtergesellschaften. Klauseln verlangen ein Netto-Verschuldungsverhältnis ≤3,50× (bis zu 4,00× nach bestimmten Akquisitionen) und eine Zinsdeckungsquote ≥2,50× sowie übliche Negativklauseln und Rückzahlungsbedingungen bei Kontrollwechsel.

Astec beabsichtigt, die erforderlichen historischen und pro forma Finanzberichte für TerraSource innerhalb von 71 Tagen einzureichen. Eine Pressemitteilung zur Bekanntgabe des Abschlusses wurde unter Punkt 7.01 bereitgestellt.

Die Transaktion erweitert das Geschäft von Astec erheblich, erhöht jedoch auch die finanzierte Verschuldung und die damit verbundenen Verpflichtungen aus den Klauseln, was diese Entwicklung für Investoren bedeutsam macht.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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OMB Number: 3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Mondre Greg

(Last) (First) (Middle)
MOTOROLA SOLUTIONS, INC.
500 W. MONROE STREET

(Street)
CHICAGO IL 60661

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Motorola Solutions, Inc. [ MSI ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/27/2025 A 66(1) A $418.66 1,654.42(2) D
Common Stock 21,788.8(2) I See footnote(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Deferred Stock Unit award subject to deferred distribution after termination of service as a director of the Issuer, an exempt transaction pursuant to Rule 16b-3(d) under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
2. Includes Deferred Stock Units received pursuant to dividend equivalent rights, which were credited to the reporting person when and as dividends were paid on the Issuer's common stock.
3. These securities are held by Mr. Mondre for the benefit of Silver Lake Technology Management, L.L.C., certain of its affiliates and certain of the funds they manage ("Silver Lake"). Mr. Mondre serves as a director of the Issuer. Pursuant to Mr. Mondre's arrangement with Silver Lake with respect to director compensation, upon the sale of these securities, the proceeds from such sale(s) are expected to be remitted to Silver Lake and/or its limited partners. Mr. Mondre, through his role at Silver Lake and its affiliates, may be deemed to have an indirect interest in the securities reported herein. Pursuant to Rule 16a-1(a)(4) under the Exchange Act, this filing shall not be deemed an admission that Mr. Mondre is the beneficial owner of all securities covered by this filing, and Mr. Mondre disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any.
/s/ Greg Mondre 07/01/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Astec Industries (ASTE) acquire on July 1, 2025?

Astec completed the purchase of TerraSource Holdings, LLC for $245 million in cash.

How much did Astec pay for TerraSource?

The total consideration was $245.0 million on a cash-free, debt-free basis, subject to customary adjustments.

How did Astec finance the TerraSource acquisition?

Funding came from a new $600 million credit agreement (term loan and revolver) plus cash on hand.

What are the key covenants in Astec's new credit facilities?

Astec must keep a Net Leverage Ratio ≤3.5× (4.0× for certain deals) and an Interest Coverage Ratio ≥2.5×.

When do the new term loans mature?

Both the revolving and term loan facilities mature on July 1, 2030, unless earlier repayment is triggered.

Will Astec provide TerraSource financial statements?

Yes, Astec plans to file the required historical and pro forma statements within 71 days of the 8-K filing.
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