- Chart Industries, Inc. (NYSE:GTLS) acquired AdEdge Holdings, LLC, a water treatment technology and solution provider, for a purchase price of $40 million in cash.
- In addition to over 20 specific targeted contaminants, AdEdge provides solutions for removing perfluorinated alkylated substances (PFAS), perfluorooctane sulfonic acid (PFOS), and other persistent organic compounds.
- “We intend to offer AdEdge’s solutions for PFAS and PFOS removal in a containerized package, using our Treatment-as-a-Service (TaaS) business model,” commented Chart’s CEO and President Jill Evanko.
- Chart Industries held cash and cash equivalents of $198 million as of June 30, 2021.
- AdEdge will be immediately accretive to Chart (with gross margins as a percent of sales averaging 32-35%) and will contribute ~$35 million to $40 million of revenue and ~$0.11 to $0.16 of adjusted non-diluted EPS to its FY22 outlook.
- Price Action: GTLS shares are trading lower by 0.49% a $185.72 on the last check Monday.
UPDATE: Virios Therapeutics Shares Spike Higher After Zacks Small Cap Research Tweets ‘VIRI: Safety Data From Phase 2a Trial Of IMC-1 Highlighted At IASP World Congress…;’ BZ NOTE; News Of Data Presentation Had Been Circulating Earlier In The Day
https://twitter.com/ZacksSmallCap/status/1406994358042234885
