Company: ASTE
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000792987-25-000047
Chunk: 26

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 per share) are excluded from the calculation of diluted earnings per share. Performance stock units, which are considered contingently issuable, are considered dilutive when the related performance criterion has been met.The following table sets forth a reconciliation of the number of shares used in the computation of basic and diluted earnings (loss) per common share:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Denominator:Denominator for basic earnings per common share22,877,075 22,796,729 22,855,304 22,779,414 Effect of dilutive securities197,705 — 170,620 — Denominator for diluted earnings per common share23,074,780 22,796,729 23,025,924 22,779,414 Antidilutive securities excluded from the calculation of diluted earnings per share1,300 93,306 864 90,076 

Note 13. Subsequent Events

The Company has evaluated all events subsequent to the balance sheet date as of June 30, 2025 through the date of issuance of these consolidated financial statements and has determined that, except as set forth below, there are no subsequent events that require disclosure.On July 1, 2025, the Company completed the previously announced acquisition of TerraSource Holdings, LLC ("TerraSource"), a market-leading manufacturer of material processing equipment and related aftermarket parts serving complementary crushing, screening and separation applications (such acquisition, the "Acquisition"). Pursuant to the Acquisition, the Company acquired 100% of the equity interests of TerraSource. The total cash consideration paid for by the Company to the sellers of TerraSource was $245.0 million on a cash-free, debt-free basis, subject to a customary purchase price adjustment. The Acquisition is expected to provide the Company with access to adjacent markets in materials processing equipment and related aftermarket parts and significant growth and value creation opportunities.Simultaneously, with the closing of the Acquisition, on July 1, 2025 (the "Financing Effective Date"), the Company entered into a credit agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto from time to time (the "2025 Credit Agreement") that provides for (i) a revolving credit facility, a term loan facility, a swingline facility and a letter of credit facility, in an initial aggregate amount of up to $600.0 million and (ii) an incremental facilities limit