ITT prices $1.17 billion stock offering to fund acquisition

ITT Inc. (NYSE: ITT) announced the pricing of an underwritten public offering of 7 million shares of common stock at $167 per share. The company also granted underwriters a 30-day option to purchase up to an additional 1.05 million shares at the same price.

The offering is expected to close on December 10, 2025, subject to customary closing conditions. ITT estimates net proceeds of approximately $1.14 billion after deducting underwriting discounts, commissions and estimated offering expenses.

The company stated it intends to use the net proceeds to fund a portion of its previously announced acquisition of SPX FLOW Inc.'s business. If the acquisition is not completed, the proceeds will be used for general corporate purposes.

Goldman Sachs & Co. LLC and UBS Investment Bank are serving as lead book-running managers, with Barclays acting as a book-running manager. Additional bookrunners include BTIG, BofA Securities, ING, BNP Paribas, Wells Fargo Securities, COMMERZBANK and IMI - Intesa Sanpaolo. Co-managers are Baird, D.A. Davidson & Co., KeyBanc Capital Markets, Stifel and Wolfe | Nomura Alliance.

The offering is being conducted under an automatic shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission on November 1, 2024, which became effective upon filing.

ITT is a manufacturer of engineered components and technology solutions for transportation, industrial and energy markets. The company is headquartered in Stamford, Connecticut, with employees in more than 35 countries and sales in approximately 125 countries.

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