Company: ASTE
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000792987-25-000047
Chunk: 111

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 industry conditions, including interest rate fluctuations (because a portion of our borrowings are at variable rates of interest); and

•place us at a competitive disadvantage compared to other companies with proportionately less debt or comparable debt at more favorable interest rates who, as a result, may be better positioned to withstand economic downturns.

Any of the foregoing impacts of our level of indebtedness could have a material adverse effect on our business, financial condition and results of operations.

Furthermore, our future access to debt capital markets to finance existing debt obligations or to obtain capital to finance growth could become restricted due to a variety of factors, including a deterioration of our performance or financial condition, overall industry prospects or changes in debt capital markets or the general economy. The inability to access credit markets on acceptable terms, if at all, could have a material adverse effect on our financial condition and ability to fund future growth.

Additionally, our debt instruments include certain affirmative and negative covenants that require us to comply with certain financial covenants and impose restrictions on our financial and business operations, including limitations on liens, indebtedness, fundamental changes and changes in the nature of our business. A failure to comply with the covenants contained in our debt instruments could result in an event of default or an acceleration of debt under our debt instruments.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

During the three month period ended June 30, 2025, no officers or directors, as defined in Rule 16a-1(f) under the Exchange Act, adopted and/or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement," as defined in Item 408 of Regulation S-K.

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Item 6. Exhibits

Incorporated by ReferenceExhibit NumberExhibit DescriptionFiled HerewithFormPeriod EndedFiling Date2.1Membership Interest Purchase Agreement, dated April 28, 2025, by and among TerraSource Holdings, LLC, the seller parties thereto, Sellers’ Representative and Astec Industries, Inc. (incorporated herein by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by Astec Industries, Inc. with the Securities and Exchange Commission on May 2, 2025)8-K7/1/20257