Graham Corporation (NYSE: GHM) announced it has agreed to sell $50 million of common stock to accounts advised by T. Rowe Price Investment Management, Inc., according to a company statement.

T. Rowe Price accounts will acquire 599,808 shares of Graham common stock at $83.36 per share, representing approximately 5% of the company. The share price was based on the 20-day average closing price on the New York Stock Exchange as of April 13, 2026.

The transaction is expected to close on April 16, 2026, subject to customary closing conditions. Graham intends to use the proceeds to strengthen its balance sheet through debt repayment and fund future organic and inorganic growth opportunities.

"We are pleased to welcome T. Rowe Price as a long-term partner and shareholder," said Matthew J. Malone, Graham's President and Chief Executive Officer. "This investment underscores the strength of the Graham platform and our positioning across attractive, growing end markets."

The shares will be sold pursuant to a stock purchase agreement, with Graham planning to register the shares for resale on a registration statement to be filed with the Securities and Exchange Commission within 30 days.

Graham Corporation is a manufacturer of fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Energy & Process, and Space industries.