SPX Technologies completes Crawford United acquisition

SPX Technologies (SPXC) completed its acquisition of Crawford United (CRAWA) Corporation. Crawford United’s shareholders voted in support of the transaction and, pursuant to the merger agreement governing the transaction, Crawford United was merged with a subsidiary of SPX, with holders of Class A and Class B common stock of Crawford United being entitled to receive, after adjustments for satisfaction of indebtedness and payment of expenses, cash consideration of approximately $83.86 per share, representing an aggregate transaction value of approximately $300M. In connection with the acquisition, Crawford United’s shares of common stock will cease trading on the OTC Pink Limited Market before the open of market.