GTLS - Chart Industries stock gains after pricing securities offering

• Chart Industries ( NYSE: GTLS ) has priced its concurrent offerings of 5,923,670 shares of common stock and 7M depositary shares.
• The common shares were issued at $118.17/share, while the depositary shares, each representing a 1/20th interest in a share of Series B Mandatory Convertible Preferred Stock, are priced at $50/share.
• Underwriters in each respective offering have been granted a 30-day option to purchase up to an additional 888,550 shares of common stock and up to an additional 1.05M depositary shares, in each case at the public offering price per share.
• Net proceeds from the offerings of common stock and depositary shares will be ~$675.5M and $337.8M, respectively.
• 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.
• GTLS shares are up 3% premarket

For further details see: