SPX Technologies plans $500 million common stock offering

CHARLOTTE - SPX Technologies, Inc. (NYSE:SPXC), a company with a market capitalization of $9.37 billion and an impressive year-to-date return of 38.52%, announced Monday its intention to offer and sell $500 million of common stock shares in an underwritten public offering.

The company also plans to grant underwriters a 30-day option to purchase up to an additional $75 million of shares. The offering remains subject to market conditions, with no guarantee of completion or final terms. According to InvestingPro analysis, SPX Technologies currently appears overvalued relative to its Fair Value, with multiple valuation metrics showing elevated levels. Discover more insights with 17+ additional ProTips available on InvestingPro.

BofA Securities, J.P. Morgan, and Wells Fargo Securities will serve as joint book-running managers for the proposed offering, with TD Cowen and Truist Securities also acting as book-running managers.

The shares will be offered through an effective automatic shelf registration statement previously filed with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus describing the offering terms will be filed with the SEC.

SPX Technologies is a diversified supplier of engineered products and technologies with leadership positions in the HVAC and detection and measurement markets. The company maintains a healthy financial position with a current ratio of 1.97 and generates annual revenue of $2.05 billion. Based in Charlotte, North Carolina, the company employs over 4,300 people across more than 16 countries.

This information is based on a press release statement from the company. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

In other recent news, SPX Technologies reported strong financial results for the second quarter of 2025, exceeding analysts’ expectations. The company posted an adjusted earnings per share (EPS) of $1.65, surpassing the forecasted $1.45. Revenues also came in higher than anticipated, reaching $552.4 million compared to the predicted $546.77 million. These results highlight a positive financial performance for the company in this period. Additionally, there were no significant mergers or acquisitions reported for SPX Technologies during this time. Analyst firms have not issued any upgrades or downgrades for the company recently. Investors are likely to find these developments noteworthy as they consider the company’s financial health and future prospects.

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