ITT Inc. announced the commencement of an underwritten public offering of 7,000,000 shares of its common stock.
The Company intends to use the net proceeds from the offering to fund a portion of the acquisition of SPX FLOW, Inc.
Goldman Sachs & Co. LLC and UBS Investment Bank are acting as lead book-running managers for the offering.
Public Offering
ITT announced a public offering of 7,000,000 shares of common stock.
Use of Proceeds
Proceeds will fund a portion of the SPX FLOW, Inc. acquisition.
Lead Managers
Goldman Sachs & Co. LLC and UBS Investment Bank are the lead book-running managers.
- ITT aims to fund acquisition with the public offering, potentially enhancing its market position.
- The choice of underwriters like Goldman Sachs & Co. LLC and UBS Investment Bank adds credibility to the offering.
The underwritten public offering signifies ITT's strategic move to fund the SPX FLOW, Inc. acquisition, demonstrating a proactive financial strategy.