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SPX Announces Proposed Public Offering of Common Stock

CHARLOTTE, N.C., Aug. 11, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (鈥淪PX鈥�) announced today that it intends to offer and sell $500 million of shares of its common stock in an underwritten public offering. In addition, SPX intends to grant the underwriters a 30-day option to purchase up to an additional $75 million of shares of its common stock offered in the public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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

The shares are being offered by SPX pursuant to an effective automatic shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (the 鈥淪EC鈥�). The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC鈥檚 website at copies of which may be obtained from BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department or by emailing , J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 by emailing and , or Wells Fargo Securities, LLC, Attention: WFS Customer Service, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or by emailing . The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About SPX Technologies, Inc.: SPX is a diversified, global supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX has over 4,300 employees in over 16 countries. SPX is listed on the New York Stock Exchange under the ticker symbol 鈥淪PXC.鈥�

Cautionary Statement Regarding Forward-Looking Statements: Various statements in this release concerning the timing and completion of the public offering on the anticipated terms or at all may constitute forward- looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, as amended, and other federal securities laws. All such forward-looking statements are based on management鈥檚 current expectations of future events and are subject to a number of substantial risks and uncertainties, many of which are outside SPX鈥檚 control, that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include fluctuations in SPX鈥檚 stock price, changes in market conditions and satisfaction of customary closing conditions related to the public offering, as well as those risks more fully discussed in the section entitled "Risk Factors" in the prospectus supplement and registration statement referenced above, SPX鈥檚 Annual Report on Form 10-K for the year ended December 31, 2024, filed February 26, 2025 with the SEC and subsequent filings with the SEC including our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. There can be no assurance that SPX will be able to complete the public offering on the anticipated terms. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and SPX undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

Investor Contacts:
Mark A. Carano, Vice President, Chief Financial Officer and Treasurer
Phone: 980.474.3806
贰尘补颈濒:听

Source: SPX Technologies