Graham Corporation Secures $50 Million Investment from T. Rowe Price Accounts
Graham Corporation Announces $50 Million Investment from Accounts Advised by T. Rowe Price
Businesswire
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Graham Corporation, based in Batavia, New York, has announced a $50 million investment from accounts advised by T. Rowe Price, acquiring 599,808 shares of common stock at $83.36 per share. The funds will be used to strengthen the company's balance sheet and support future growth initiatives.
- 01Graham Corporation will sell 599,808 shares to T. Rowe Price accounts.
- 02The investment totals $50 million at a price of $83.36 per share.
- 03Funds will be used for debt repayment and growth opportunities.
- 04The transaction is expected to close on April 16, 2026.
- 05Graham aims to enhance financial flexibility and shareholder value.
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Graham Corporation (NYSE: GHM), located in Batavia, New York, has announced a significant investment of $50 million from accounts advised by T. Rowe Price Investment Management, Inc. This investment will allow T. Rowe Price to acquire 599,808 shares, representing 5% of Graham's common stock, at a price of $83.36 per share based on the 20-day average closing price. The transaction is expected to close on April 16, 2026, pending customary closing conditions. The proceeds from this investment will be utilized to strengthen Graham's balance sheet through debt repayment and to fund future organic and inorganic growth initiatives. Matthew J. Malone, the President and CEO of Graham, expressed enthusiasm about partnering with T. Rowe Price, highlighting the investment as a testament to Graham's robust market position. The shares will be registered for resale with the Securities and Exchange Commission (SEC) within 30 days following the agreement.
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This investment will enhance Graham Corporation's financial stability, potentially leading to increased job security and growth opportunities for employees and stakeholders.
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