IDEX Corporation Announces Pricing of Public Offering of Senior Notes
2024年8月8日 - 6:35AM
ビジネスワイヤ(英語)
IDEX Corporation (NYSE: IEX) (“IDEX” or the “company”) today
announced the pricing of its public offering of $500 million
principal amount of 4.950% Senior Notes due 2029. The notes will be
unsecured senior obligations that rank equal in right of payment to
all of IDEX’s existing and future senior indebtedness. Closing of
the offering is expected to occur on August 21, 2024, subject to
the satisfaction of customary closing conditions.
IDEX estimates that the net proceeds from the offering will be
approximately $495.0 million, after deducting underwriting
discounts and commissions and its estimated offering expenses. The
company intends to use the net proceeds from this offering,
together with available revolving credit facility borrowings and
cash on hand, to (i) fund the cash consideration payable by IDEX to
consummate its previously announced acquisition of all of the
issued and outstanding capital stock of Mott Corporation and its
subsidiaries and (ii) pay fees and expenses in respect of the
foregoing.
Wells Fargo Securities, LLC, BofA Securities, Inc. and J.P.
Morgan Securities LLC are acting as joint book-running managers for
the offering.
IDEX is making this offering pursuant to a shelf registration
statement that automatically became effective upon filing with the
Securities and Exchange Commission (the “SEC”). This offering will
be made solely by means of a prospectus and prospectus supplement.
You may obtain a copy of the preliminary prospectus supplement, the
accompanying prospectus and the final prospectus supplement, when
available, for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, any underwriter or any dealer
participating in the offering will arrange to send you any of those
documents upon request by contacting the joint book-running
managers at:
Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite
1000, Minneapolis, Minnesota 55402, Attn: WFS Customer Service;
Telephone (800) 645-3751 or Email:
wfscustomerservice@wellsfargo.com
BofA Securities, Inc., 201 North Tryon Street
(NC1-022-02-25), Charlotte, North Carolina 28255-0001, Attn:
Prospectus Department; Telephone: (800) 294-1322 or Email:
dg.prospectus_requests@bofa.com
J.P. Morgan Securities LLC, 383 Madison Avenue, New York,
New York, 10179, Attn: Investment Grade Syndicate Desk, 3rd Floor;
Telephone: (212) 834-4533.
This press release shall not constitute a solicitation of an
offer to buy, 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 jurisdiction.
Forward-Looking Statements
This press release contains “forward-looking” statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, as amended. These
forward-looking statements relate to, among other things,
expectations regarding the anticipated closing of the notes
offering and IDEX’s intended use of net proceeds therefrom.
Statements which are not historical facts and relate to future
plans, events or performance are forward-looking statements that
are based upon management’s current expectations and are subject to
risks and uncertainties. The forward-looking statements are based
on management’s current expectations and should not be construed in
any manner as a guarantee that such events or results will in fact
occur. All forward-looking statements speak only as of the date of
this press release and IDEX undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Detailed information
regarding risk factors with respect to IDEX and the offering are
included in the company’s filings with the SEC, including the
prospectus and prospectus supplement for the offering. The
forward-looking statements included here are only made as of the
date of this press release, and management undertakes no obligation
to publicly update them to reflect subsequent events or
circumstances, except as may be required by law. Investors are
cautioned not to rely unduly on forward-looking statements when
evaluating the information presented here. Any such forward-looking
statements are not guarantees of future performances and actual
results, developments and business decisions may differ from those
contemplated by such forward-looking statements.
About IDEX
IDEX Corporation (NYSE: IEX) designs and builds engineered
products and mission-critical components that make everyday life
better. IDEX precision components help craft the microchip powering
your electronics, treat water so it is safe to drink, and protect
communities and the environment from sewer overflows. Our optics
enable communications across outer space, and our pumps move
challenging fluids that range from hot, to viscous, to caustic.
IDEX components assist healthcare professionals in saving lives as
part of many leading diagnostic machines, including DNA sequencers
that help doctors personalize treatment. And our fire and rescue
tools, including the industry-leading Hurst Jaws of Life®, are
trusted by rescue workers around the world. These are just some of
the thousands of products that help IDEX live its purpose – Trusted
Solutions, Improving Lives™. Founded in 1988 with three small,
entrepreneurial manufacturing companies, IDEX now includes more
than 50 diverse businesses around the world. With about 8,800
employees and manufacturing operations in more than 20 countries,
IDEX is a diversified, high-performing, global company with
approximately $3.3 billion in annual sales.
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version on businesswire.com: https://www.businesswire.com/news/home/20240807414722/en/
Investor Contact:
Wendy Palacios Vice President FP&A and Investor Relations +1
847.457.3723 investorrelations@idexcorp.com
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