GTLS - Chart Industries proposes common stock depositary share offerings

• Chart Industries ( NYSE: GTLS ) has proposed concurrent offerings of $600M of common stock and $300M of depositary shares, each representing a 1/20th interest in a share of Series B Mandatory Convertible Preferred Stock.
• The underwriters in each respective offering are expected to be granted a 30-day option to purchase up to an additional $90M of common stock and up to an additional $45M of depositary shares.
• Proceeds from the offerings will be used to fund in part the previously announced acquisition of Howden from affiliates of KPS Capital Partners by reducing the amount of Series A Cumulative Participating Convertible Preferred Stock to be issued to Granite Holdings I B.V., a Dutch private limited liability company, under the equity purchase agreement in connection with the acquisition.

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