Company: ASTE
Filing Date: 2025-05-02
Form Type: 8-K
Source: 0001104659-25-044104
Chunk: 2

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-05-02
Form: 8-K
Item: Item 8.01
Chunk 2
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Item 8.01. Other Events.

In connection with the Transaction, on April 28,
2025, the Company entered into a commitment letter (the "Commitment Letter") with Wells Fargo Bank, National Association, and
the other lender parties thereto (collectively, the "Commitment Parties"), pursuant to which the Commitment Parties committed
to provide (i) a senior secured revolving credit facility in an aggregate principal amount of $150.0 million (the “ Revolving Credit
Facility”) and (ii) a senior secured term loan facility in an aggregate principal amount of $350.0 million (the “ Term Loan
A Facility,” collectively with the Revolving Credit Facility, the “ Senior Credit Facilities”), subject to the satisfaction of customary closing conditions. The Company intends to
use the proceeds of the Senior Credit Facilities, together with cash on hand, to fund the Transaction, to terminate the commitments and
repay the loans outstanding under that certain Credit Agreement, by and among, the Company, the lenders party thereto and Wells Fargo
Bank, National Association, as agent for such lenders, dated December 19, 2022, and to pay for fees, costs and expenses incurred in connection
with the foregoing.

Forward-Looking Statements