ITT Inc. priced a public offering of 7 million shares of its common stock at $167 per share, a transaction that is expected to close on December 10, 2025. The offering is projected to generate net proceeds of roughly $1.14 billion after underwriting discounts and commissions.
The capital raised will fund a portion of ITT’s previously announced $4.775 billion acquisition of SPX FLOW, Inc. The deal will expand ITT’s Industrial Process segment, is expected to lift gross and adjusted EBITDA margins, and should deliver double‑digit earnings per share accretion in 2026. ITT also plans to generate $80 million in run‑rate cost savings by the third year after the acquisition closes.
In Q3 2025, ITT reported revenue of $999 million, up 13% year‑over‑year, and an adjusted EPS of $1.78, beating analyst estimates. The strong quarterly performance underpins the company’s confidence in pursuing the SPX FLOW transaction and supports the decision to raise equity capital.
CEO Luca Savi said the acquisition “checks all the boxes” and that ITT is honored to partner with SPX FLOW’s team. The statement reflects management’s belief that the combined entity will realize significant synergies and strengthen ITT’s market position.
ITT will fund the cash portion of the acquisition through a mix of debt and equity, maintaining an investment‑grade credit rating and a net leverage ratio below 3.0x at close, with a target of below 2.0x within 18 months. The financing strategy is designed to preserve financial flexibility while supporting the company’s growth objectives.
Investors have focused on dilution concerns from the equity issuance, but the proceeds are earmarked for a strategic acquisition expected to enhance margins and create cost savings of $80 million run‑rate by year three.
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