Chart Industries Raises Funds Via Equity & Debt Offerings To Fund Howden Deal

  • Chart Industries Inc GTLS has priced its previously announced concurrent offering of 5.9 million shares at a public offering price of $118.17 per share.
  • It also priced 7 million depositary shares at a public offering price of $50 per share.
  • Chart Industries has granted the underwriters in each respective offering a 30-day option to purchase up to an additional 0.8 million shares and 1.1 million depositary shares.
  • Yesterday, the company revealed it commenced concurrent offerings of common stock and depositary shares.
  • RelatedWhy Chart Industries Shares Are Diving
  • The net proceeds from the offerings of common stock and depositary shares will be approximately $675.5 million and $337.8 million, respectively.
  • Chart intends to use the proceeds from the offerings to fund, in part, the previously announced acquisition of Howden from affiliates of KPS Capital Partners LP.
  • Yesterday, the company also disclosed plans for offerings of $1.46 billion of 7.500% senior secured notes due 2030 and $510 million of 9.500% unsecured notes due 2031.
  • Price Action: GTLS shares are trading higher by 0.19% at $118.40 in premarket on the last check Friday.
  • Photo Via Company
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