SPX TECHNOLOGIES INC SEC Filings

Sean McClenaghan, President, Global Cooling at SPX Technologies, Inc. (SPXC), reported a Form 4 showing a tax-withholding disposition and continued option holdings. He delivered 1,328 shares to the issuer to satisfy withholding taxes on vested restricted stock units at a price of $186.78 per share. Following the reported transaction, the filing shows 24,422 shares beneficially owned (direct), an additional 8,883 shares disposed and 510 shares held indirectly in a 401(k) plan as reported on the form.

The report also discloses outstanding employee stock options: 20,585 options at a $55.22 exercise price (exercisable 10/01/2025–10/01/2032), 5,948 at $71.93 (03/01/2026–03/01/2033), 5,269 at $116.40 (02/28/2027–02/28/2034), and 4,229 at $138.60 (03/03/2028–03/03/2035). The filing was signed by an attorney-in-fact on 10/03/2025.

Jennifer Carpenter, VP and CHRO of SPX Technologies, Inc. (SPXC), reported a Form 4 disclosing insider activity dated 10/01/2025 with the filing signed on 10/03/2025. She delivered 185 shares to the issuer to satisfy tax withholding on vested restricted stock units at a price of $186.78 per share, leaving 3,830 shares held directly following the transaction. The filing also shows participation in a 401(k) plan with 106 shares held indirectly and that unvested restricted stock units are included in the reported holdings.

The report discloses two outstanding employee stock options: one for 2,990 shares with a $158.53 exercise price exercisable beginning 10/01/2027 and expiring 10/01/2034, and a second for 1,576 shares with a $138.60 exercise price exercisable beginning 03/03/2028 and expiring 03/03/2035. Explanations note the share delivery was solely for tax withholding and that the option grants vest in three equal installments starting on the stated exercise-eligible dates.

SPX Technologies entered into amendments to its credit arrangements establishing a new financing package that includes a $500 million term loan, a $1.5 billion multicurrency revolving credit facility (with sublimits for letters of credit and non-U.S. exposure) and a $25 million bilateral foreign credit instrument facility. The amended agreements require most domestic material subsidiaries to guarantee obligations and include financial covenants: a Consolidated Interest Coverage Ratio of at least 3.00x and a Consolidated Leverage Ratio not exceeding 3.75x (increasing to 4.25x for four quarters after certain permitted acquisitions). Exhibits include the Third Amendment to the Amended and Restated Credit Agreement and related guarantee and collateral amendment.

SPX Technologies, Inc. (SPXC) filed an 8-K disclosing that it submitted three exhibits related to a securities transaction: an Underwriting Agreement with a syndicate led by BofA Securities, J.P. Morgan Securities and Wells Fargo Securities; a legal opinion from Latham & Watkins LLP; and Latham & Watkins LLP's consent (included in the opinion exhibit). The filing identifies the company's principal executive office in Charlotte, North Carolina, and confirms the company's common stock trades on the New York Stock Exchange under the ticker SPXC. The disclosure is limited to the exhibits listed and does not include offering terms, proceeds, or financial results.

SPX Technologies is offering 2,659,575 shares of common stock at $188.00 per share, raising approximately $500.0 million gross and about $479.3 million net (or ~$551.3 million if underwriters exercise their option to purchase an additional 398,936 shares). The company expects roughly 49.4 million shares outstanding after the offering and intends to use net proceeds for working capital, refinancing or repurchasing debt, funding acquisitions and capital expenditures. The offering includes underwriting discounts of $20.0 million and a 60-day lock-up for insiders.

Operational and financial profile: SPX reported approximately $2.0 billion in revenue, adjusted EBITDA of $421.0 million (21.2% adjusted EBITDA margin), adjusted net income of $262.6 million, adjusted EPS of $5.58 and adjusted free cash flow of $283.8 million. The HVAC and Detection & Measurement segments generated $1,364.7 million and $619.2 million of revenue and $323.9 million and $136.7 million of segment income, respectively. Since 2018 the company deployed about $2.1 billion for 16 acquisitions.

SPX Technologies, Inc. is offering $500.0 million of common stock (with an underwriter option for an additional $75.0 million). The company is listed on the NYSE under SPXC; the last reported sale price was $201.57 on August 8, 2025. SPX reported approximately $2.0 billion of revenue for the year ended December 31, 2024 and operates in over 16 countries with more than 4,300 employees.

The company’s two segments generated material results in 2024: HVAC revenue of $1,364.7 million (segment income $323.9 million) and Detection & Measurement revenue of $619.2 million (segment income $136.7 million). Adjusted EBITDA was $421.0 million (margin 21.2%), and adjusted net income was $262.6 million. Net proceeds are intended for working capital, refinancing or repurchasing debt, acquisitions and capital expenditures. The offering will dilute existing holders and is subject to a 60-day lock-up for insiders.

SPX Technologies, Inc. is presenting a shelf prospectus that describes its diversified industrial technology businesses serving HVAC and Detection & Measurement markets. The company operates in over 16 countries with more than 4,300 employees and reports 46,758,155 common shares outstanding as of July 25, 2025. Since 2018 SPX has completed 16 acquisitions, deploying approximately $2.1 billion, which the company says has expanded addressable markets and supported topline and earnings growth.

The prospectus registers multiple security types (common stock, preferred stock, debt securities, warrants, purchase contracts and units) for future offerings and explains risks that could affect operations and margins, including tariffs, raw material availability and costs, supply-chain and cybersecurity risks, and certain corporate governance provisions (e.g., classified board until 2027 and supermajority vote requirements) that may affect shareholder influence. The company’s common stock trades on the NYSE under SPXC and the last reported sale price noted in the prospectus was $201.57.