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Rhea-AI Filing Summary

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 comunicato tramite un modulo 8-K 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 attraverso un Accordo di Acquisto di Quote Societarie firmato il 28 aprile 2025 ed è stato completato su base cash-free e debt-free, soggetto a consueti aggiustamenti post-chiusura.

Per finanziare l'operazione e rafforzare la liquidità, Astec ha contestualmente stipulato 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, prestito a termine, swingline e lettere di credito, oltre a un'opzione incrementale fino a 150 milioni di dollari. I proventi del prestito a termine, combinati con la liquidità disponibile, hanno finanziato l'acquisizione, estinto tutti i debiti relativi alla linea di credito precedente da 250 milioni (chiusa alla data di chiusura) e coperto le spese della transazione.

Termini chiave del finanziamento: (i) scadenza al 1° luglio 2030; (ii) opzione per il mutuatario tra Term SOFR +1,75%-2,75% o Base Rate +0,75%-1,75%, con prezzi e commissioni di impegno (0,15%-0,35%) legati al rapporto di leva finanziaria consolidato totale della società; (iii) garanzie garantite dalle controllate statunitensi. I covenant richiedono un rapporto di leva finanziaria netta ≤3,50× (fino a 4,00× dopo determinate acquisizioni) e un rapporto di copertura degli interessi ≥2,50×, insieme ai consueti covenant negativi e clausole di rimborso in caso di cambio di controllo.

Astec intende presentare i necessari bilanci storici e pro forma di TerraSource entro 71 giorni. 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 il debito finanziato e gli obblighi di covenant correlati, rendendo lo 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 sin efectivo ni deuda, sujeto a ajustes habituales posteriores al cierre.

Para financiar la operación y fortalecer la liquidez, Astec simultáneamente firmó un nuevo acuerdo de crédito senior garantizado por 600 millones de dólares con Wells Fargo como agente administrativo. Las facilidades comprenden 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, junto con el efectivo disponible, financiaron la adquisición, pagaron todos los préstamos bajo la línea revolvente anterior de 250 millones de dólares (terminada en el cierre) y cubrieron las tarifas de la transacción.

Términos clave del financiamiento: (i) vencimiento el 1 de julio de 2030; (ii) opción del prestatario de Term SOFR +1.75%-2.75% o Tasa Base +0.75%-1.75%, con precios y comisiones de compromiso (0.15%-0.35%) vinculados a la relación consolidada de apalancamiento neto total de la empresa; (iii) garantías aseguradas de subsidiarias nacionales de 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 reembolso por cambio de control.

Astec planea presentar los estados financieros históricos y pro forma requeridos para TerraSource 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 el desarrollo sea impactante para los inversores.

Astec Industries, Inc. (NASDAQ: ASTE)2025년 7월 1일에 TerraSource Holdings, LLC를 2억 4,500만 달러 현금으로 인수 완료했음을 8-K 보고서로 공시했습니다. 이번 인수는 2025년 4월 28일에 체결된 지분 매입 계약을 통해 이루어졌으며, 현금 및 부채 없는 상태로 마감되었고, 통상적인 마감 후 조정이 적용됩니다.

거래 자금 조달 및 유동성 강화를 위해 Astec는 동시에 Wells Fargo를 행정 대리인으로 하는 6억 달러 규모의 선순위 담보 신용 계약을 체결했습니다. 이 신용 시설은 회전대출, 만기 대출, 스윙라인, 신용장 트랜치를 포함하며 최대 1억 5,000만 달러까지 추가 확장 가능한 옵션도 포함합니다. 만기 대출의 수익과 보유 현금을 결합하여 인수를 자금 조달하고, 이전 2억 5,000만 달러 회전 신용 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 +0.75%-1.75% 중 선택 가능하며, 가격 및 약정 수수료(0.15%-0.35%)는 회사의 통합 총 순레버리지 비율에 연동; (iii) 미국 내 자회사들의 담보 보증 제공. 약정 조건은 순레버리지 비율이 ≤3.50×(특정 인수 후 최대 4.00×)이어야 하며, 이자보상비율은 ≥2.50×를 유지해야 하며, 일반적인 부정 약정 및 경영권 변경 시 상환 조항도 포함됩니다.

Astec는 TerraSource에 대한 필요한 과거 및 프로포마 재무제표를 71일 이내에 제출할 예정입니다. 마감 소식을 알리는 보도자료는 항목 7.01에 따라 제출되었습니다.

이번 거래는 Astec의 사업을 크게 확장하는 동시에 자금 조달 부채와 관련 약정 의무를 증가시켜 투자자들에게 중대한 영향을 미칠 전망입니다.

Astec Industries, Inc. (NASDAQ : ASTE) a déposé un formulaire 8-K pour annoncer la clôture au 1er juillet 2025 de son acquisition en numéraire de 245 millions de dollars de TerraSource Holdings, LLC. L'achat a été réalisé via un accord d'achat de parts sociales 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 supplémentaire allant jusqu'à 150 millions de dollars. Les fonds issus du prêt à terme, combinés à la trésorerie disponible, ont financé l'acquisition, remboursé tous les emprunts liés à la ligne de crédit renouvelable précédente de 250 millions (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 % à 2,75 % ou taux de base +0,75 % à 1,75 %, avec des frais de tarification et d'engagement (0,15 % à 0,35 %) liés au ratio d'endettement net consolidé de la société ; (iii) garanties garanties par les filiales américaines domestiques. Les conventions 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 négatives 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 élargit considérablement l'activité d'Astec tout en augmentant la dette financée et les obligations liées aux conventions, rendant cet événement significatif pour les investisseurs.

Astec Industries, Inc. (NASDAQ: ASTE) meldete in einem 8-K die Abwicklung am 1. Juli 2025 des Barerwerbs von TerraSource Holdings, LLC im Wert von 245 Millionen US-Dollar. Der Kauf erfolgte durch einen am 28. April 2025 unterzeichneten Mitgliedschaftsanteilkaufvertrag und wurde auf einer cash- und schuldenfreien Basis abgeschlossen, vorbehaltlich üblicher Anpassungen nach dem Abschluss.

Zur Finanzierung des Geschäfts und zur Stärkung der Liquidität schloss Astec gleichzeitig einen neuen Senior besicherten Kreditvertrag über 600 Millionen US-Dollar mit Wells Fargo als Verwaltungsagent ab. Die Kreditfazilitäten umfassen revolvierende, terminierte Darlehen, Swingline- und Akkreditivtranchen sowie eine zusätzliche Akkordeonoption von bis zu 150 Millionen US-Dollar. Die Erlöse aus dem Terminkredit zusammen mit vorhandenen Barmitteln finanzierten die Akquisition, tilgten alle Verbindlichkeiten aus dem vorherigen revolvierenden Kredit über 250 Millionen US-Dollar (der zum Abschluss beendet wurde) und deckten Transaktionsgebühren ab.

Wesentliche Finanzierungsbedingungen: (i) Laufzeit bis zum 1. Juli 2030; (ii) Darlehensnehmeroption Term SOFR +1,75%-2,75% oder Basiszinssatz +0,75%-1,75%, mit Preis- und Bereitstellungsgebühren (0,15%-0,35%), die an das konsolidierte Netto-Gesamtverschuldungsverhältnis des Unternehmens gekoppelt sind; (iii) besicherte Garantien von inländischen US-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 und erhöht gleichzeitig die finanzierten Schulden und damit verbundene Vertragsverpflichtungen, was die 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 comunicato tramite un modulo 8-K 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 attraverso un Accordo di Acquisto di Quote Societarie firmato il 28 aprile 2025 ed è stato completato su base cash-free e debt-free, soggetto a consueti aggiustamenti post-chiusura.

Per finanziare l'operazione e rafforzare la liquidità, Astec ha contestualmente stipulato 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, prestito a termine, swingline e lettere di credito, oltre a un'opzione incrementale fino a 150 milioni di dollari. I proventi del prestito a termine, combinati con la liquidità disponibile, hanno finanziato l'acquisizione, estinto tutti i debiti relativi alla linea di credito precedente da 250 milioni (chiusa alla data di chiusura) e coperto le spese della transazione.

Termini chiave del finanziamento: (i) scadenza al 1° luglio 2030; (ii) opzione per il mutuatario tra Term SOFR +1,75%-2,75% o Base Rate +0,75%-1,75%, con prezzi e commissioni di impegno (0,15%-0,35%) legati al rapporto di leva finanziaria consolidato totale della società; (iii) garanzie garantite dalle controllate statunitensi. I covenant richiedono un rapporto di leva finanziaria netta ≤3,50× (fino a 4,00× dopo determinate acquisizioni) e un rapporto di copertura degli interessi ≥2,50×, insieme ai consueti covenant negativi e clausole di rimborso in caso di cambio di controllo.

Astec intende presentare i necessari bilanci storici e pro forma di TerraSource entro 71 giorni. 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 il debito finanziato e gli obblighi di covenant correlati, rendendo lo 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 sin efectivo ni deuda, sujeto a ajustes habituales posteriores al cierre.

Para financiar la operación y fortalecer la liquidez, Astec simultáneamente firmó un nuevo acuerdo de crédito senior garantizado por 600 millones de dólares con Wells Fargo como agente administrativo. Las facilidades comprenden 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, junto con el efectivo disponible, financiaron la adquisición, pagaron todos los préstamos bajo la línea revolvente anterior de 250 millones de dólares (terminada en el cierre) y cubrieron las tarifas de la transacción.

Términos clave del financiamiento: (i) vencimiento el 1 de julio de 2030; (ii) opción del prestatario de Term SOFR +1.75%-2.75% o Tasa Base +0.75%-1.75%, con precios y comisiones de compromiso (0.15%-0.35%) vinculados a la relación consolidada de apalancamiento neto total de la empresa; (iii) garantías aseguradas de subsidiarias nacionales de 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 reembolso por cambio de control.

Astec planea presentar los estados financieros históricos y pro forma requeridos para TerraSource 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 el desarrollo sea impactante para los inversores.

Astec Industries, Inc. (NASDAQ: ASTE)2025년 7월 1일에 TerraSource Holdings, LLC를 2억 4,500만 달러 현금으로 인수 완료했음을 8-K 보고서로 공시했습니다. 이번 인수는 2025년 4월 28일에 체결된 지분 매입 계약을 통해 이루어졌으며, 현금 및 부채 없는 상태로 마감되었고, 통상적인 마감 후 조정이 적용됩니다.

거래 자금 조달 및 유동성 강화를 위해 Astec는 동시에 Wells Fargo를 행정 대리인으로 하는 6억 달러 규모의 선순위 담보 신용 계약을 체결했습니다. 이 신용 시설은 회전대출, 만기 대출, 스윙라인, 신용장 트랜치를 포함하며 최대 1억 5,000만 달러까지 추가 확장 가능한 옵션도 포함합니다. 만기 대출의 수익과 보유 현금을 결합하여 인수를 자금 조달하고, 이전 2억 5,000만 달러 회전 신용 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 +0.75%-1.75% 중 선택 가능하며, 가격 및 약정 수수료(0.15%-0.35%)는 회사의 통합 총 순레버리지 비율에 연동; (iii) 미국 내 자회사들의 담보 보증 제공. 약정 조건은 순레버리지 비율이 ≤3.50×(특정 인수 후 최대 4.00×)이어야 하며, 이자보상비율은 ≥2.50×를 유지해야 하며, 일반적인 부정 약정 및 경영권 변경 시 상환 조항도 포함됩니다.

Astec는 TerraSource에 대한 필요한 과거 및 프로포마 재무제표를 71일 이내에 제출할 예정입니다. 마감 소식을 알리는 보도자료는 항목 7.01에 따라 제출되었습니다.

이번 거래는 Astec의 사업을 크게 확장하는 동시에 자금 조달 부채와 관련 약정 의무를 증가시켜 투자자들에게 중대한 영향을 미칠 전망입니다.

Astec Industries, Inc. (NASDAQ : ASTE) a déposé un formulaire 8-K pour annoncer la clôture au 1er juillet 2025 de son acquisition en numéraire de 245 millions de dollars de TerraSource Holdings, LLC. L'achat a été réalisé via un accord d'achat de parts sociales 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 supplémentaire allant jusqu'à 150 millions de dollars. Les fonds issus du prêt à terme, combinés à la trésorerie disponible, ont financé l'acquisition, remboursé tous les emprunts liés à la ligne de crédit renouvelable précédente de 250 millions (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 % à 2,75 % ou taux de base +0,75 % à 1,75 %, avec des frais de tarification et d'engagement (0,15 % à 0,35 %) liés au ratio d'endettement net consolidé de la société ; (iii) garanties garanties par les filiales américaines domestiques. Les conventions 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 négatives 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 élargit considérablement l'activité d'Astec tout en augmentant la dette financée et les obligations liées aux conventions, rendant cet événement significatif pour les investisseurs.

Astec Industries, Inc. (NASDAQ: ASTE) meldete in einem 8-K die Abwicklung am 1. Juli 2025 des Barerwerbs von TerraSource Holdings, LLC im Wert von 245 Millionen US-Dollar. Der Kauf erfolgte durch einen am 28. April 2025 unterzeichneten Mitgliedschaftsanteilkaufvertrag und wurde auf einer cash- und schuldenfreien Basis abgeschlossen, vorbehaltlich üblicher Anpassungen nach dem Abschluss.

Zur Finanzierung des Geschäfts und zur Stärkung der Liquidität schloss Astec gleichzeitig einen neuen Senior besicherten Kreditvertrag über 600 Millionen US-Dollar mit Wells Fargo als Verwaltungsagent ab. Die Kreditfazilitäten umfassen revolvierende, terminierte Darlehen, Swingline- und Akkreditivtranchen sowie eine zusätzliche Akkordeonoption von bis zu 150 Millionen US-Dollar. Die Erlöse aus dem Terminkredit zusammen mit vorhandenen Barmitteln finanzierten die Akquisition, tilgten alle Verbindlichkeiten aus dem vorherigen revolvierenden Kredit über 250 Millionen US-Dollar (der zum Abschluss beendet wurde) und deckten Transaktionsgebühren ab.

Wesentliche Finanzierungsbedingungen: (i) Laufzeit bis zum 1. Juli 2030; (ii) Darlehensnehmeroption Term SOFR +1,75%-2,75% oder Basiszinssatz +0,75%-1,75%, mit Preis- und Bereitstellungsgebühren (0,15%-0,35%), die an das konsolidierte Netto-Gesamtverschuldungsverhältnis des Unternehmens gekoppelt sind; (iii) besicherte Garantien von inländischen US-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 und erhöht gleichzeitig die finanzierten Schulden und damit verbundene Vertragsverpflichtungen, was die 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
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
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*
Balcom Alexandra

(Last) (First) (Middle)
C/O NUVALENT, INC.
ONE BROADWAY, 14TH FLOOR

(Street)
CAMBRIDGE MA 02142

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Nuvalent, Inc. [ NUVL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
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
Class A Common Stock 06/27/2025 M(1) 20,000 A $18.93 81,734 D
Class A Common Stock 06/27/2025 S(1) 20,000 D $80.02(2) 61,734 D
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
Stock Option (Right to Buy) $18.93 06/27/2025 M(1) 20,000 (3) 01/04/2032 Class A Common Stock 20,000 $0.00 87,000 D
Explanation of Responses:
1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2024.
2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.00 to $80.13, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, Nuvalent, Inc. or any security holder of Nuvalent, Inc., upon request, full information regarding the number of shares sold at each separate price.
3. The shares underlying this option vest as follows: 25% of the shares vested on January 4, 2023, and the remainder have vested or shall vest over the three years thereafter in equal monthly installments, subject to continued service to Nuvalent, Inc. through the applicable vesting date.
/s/ Nathan N. McConarty, attorney-in-fact 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.
Nuvalent, Inc.

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