ATLANTA, June 12, 2019 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NASDAQ: GTLS) today announced it has priced an underwritten public offering of 3,500,000 shares of common stock, which is expected to close on June 14, 2019 concurrent with the expected closing of our previously announced committed $1.1 billion in credit facilities.

The proceeds from these financing activities will fund the acquisition of Harsco Corporation’s Industrial Air-X-Changers business which is expected to close on July 1, 2019. The proceeds will also be used to repay indebtedness and position the company for future growth.

“While our proposed offering of common stock was significantly oversubscribed, the associated pricing was at the lower end of our anticipated range. We decided to size the offering to a level that would meet the needs of the business and support our growth and profitability objectives, while also acting in the interest of current shareholders by reducing anticipated dilution,” said Jill Evanko, CEO of Chart Industries.

Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple market applications in Energy and Industrial Gas. Our unique product portfolio is used throughout the liquid gas supply chain in the production, storage, distribution and end-use of atmospheric, hydrocarbon, and industrial gases. Chart has domestic operations located across the United States and an international presence in Asia, Australia, Europe and Latin America. To learn more, visit www.Chartindustries.com.