Company: NPO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001164863-25-000030
Chunk: 20

Company: Enpro Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 8
Chunk 20
---
Investing activities used $19.6 million of cash in the first six months of 2025 compared to $223.1 million of cash used in investing activities last year. This decrease is primarily driven by the 2024 acquisition of AMI ($209.4 million).

Financing activities used $194.9 million of cash in the first six months of 2025, primarily driven by $851.5 million in repayments of debt, $7.7 million in debt issuance costs, and $13.2 million used for dividends, partially offset by $680 million in proceeds from issuing debt. Financing activities in the first six months of 2024 used $19.0 million, primarily from $17.9 million used for the acquisition of Alluxa non-controlling interests and $12.7 million used for dividends paid partially offset by $13.9 million in net borrowings.

Capital Resources

Senior Secured Credit Facilities. On April 9, 2025, we entered into a Second Amendment to Third Amended and Restated Credit Agreement dated as of April 9, 2025 (the “Amended Credit Facility Agreement”) among the Company and our subsidiary, EnPro Holdings, Inc. ("EnPro Holdings"), as borrowers, certain foreign subsidiaries of the Company from time to time party thereto, as designated borrowers, the guarantors party thereto, the lenders party thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.  The Amended Credit Facility Agreement amended the agreement then governing our senior secured credit facilities and provides for a senior secured revolving credit facility of up to $800.0 million (the “Revolving Credit Facility”), which will mature on April 9, 2030. On April 9, 2025, in connection with our entry into the Amended Credit Facility Agreement, we repaid the remaining outstanding principal amount of term loan borrowings outstanding under the agreement governing our senior secured credit facilities prior to such amendment, funded by borrowings under the Revolving Credit Facility and $59.8 million of available cash. 

29

The Amended Credit Facility Agreement provides that we may seek incremental term loans and/or additional revolving credit commitments in an amount equal to the greater of $275.0 million and 100% of consolidated EBITDA for the most recently ended four-quarter period for which we have reported financial results, plus additional amounts based on a consolidated senior secured leverage ratio. Any incremental term loans will