SPX Technologies shares up after $500 mln equity raise
Shares of infrastructure equipment supplier SPX Technologies SPXC.N up 1.2% at $193.50 premarket after equity raise secured
The HVAC and detection and measurement solutions provider late Tues announced pricing ~2.7 mln shares at $188 for $500 mln gross proceeds
Offering price represents 1.7% discount to stock's last close
SPXC shares on Tues fell 4.7% after co late Mon unveiled the offering for working capital, and other purposes, including refinancing/repurchasing debt, funding acquisitions and capex
BofA, JP Morgan and Wells Fargo are joint bookrunners for the offering, joined by TD Cowen and Truist Secs
Charlotte, North Carolina-based SPXC has ~46.7 mln shares outstanding for $9 bln market cap
Through Tues close, stock up 31% YTD
All 7 analysts covering SPXC are bullish with avg rating of "strongbuy" and median PT is $205 - LSEG data
Related Articles
National Debt Bomb Ignited? Musk Warns U.S. Will Be 1000% Bankrupt Without AI
TradingKey - Tesla (TSLA) CEO Elon Musk recently issued another warning regarding the rapidly ballooning U.S. national debt. He stated clearly that without artificial intelligence and robotics, the United States will inevitably head toward fiscal bankruptcy.
Tesla Stock Outlook: Competing With Rivian, Robotaxi Potential, and 2026 Prospects
There is much conversation about the prospect of investing in Tesla (TSLA) as we move closer to 2026. The volatility of its share price in 2025 is leading many investors to consider if they should purchase shares of Tesla given the alternatives available in terms of electric vehicles (Rivian, etc.).
Why Sanae Takaichi Winning Japan’s Diet Election Led to a Surge in Japanese Stock Indices？
TradingKey - Reports indicate that the ruling coalition led by Japanese Prime Minister Sanae Takaichi has secured a single-party majority in the parliamentary elections held on Sunday (February 8). Following the news, the yen weakened slightly, while the Nikkei Index surpassed 57,000 for the first t
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
