Graham Corporation Secures $50 Million T. Rowe Price Investment for Debt Repayment
Graham Corporation has agreed to sell $50 million of common stock—599,808 shares at $83.36 per share—to accounts advised by T. Rowe Price, representing 5% of its outstanding stock. Proceeds will repay debt and fund organic and inorganic growth initiatives starting April 16, 2026.
1. Stock Sale Agreement
Graham Corporation has entered into a stock purchase agreement to sell 599,808 shares of its common stock at $83.36 per share, totaling $50 million. The shares represent approximately 5% of outstanding equity and the transaction is expected to close on April 16, 2026, subject to customary conditions.
2. Use of Proceeds and Financial Impact
Net proceeds from the sale will be directed toward debt repayment to strengthen the balance sheet and enhance financial flexibility. The capital infusion is aimed at reducing leverage and positioning the company for future investment.
3. Strategic Partnership and Growth Outlook
The investment by accounts advised by T. Rowe Price underscores confidence in Graham’s mission-critical fluid, power, heat transfer, vacuum, and mixing technologies. The additional funding supports Graham’s strategy to pursue both organic and inorganic growth opportunities across Defense, Energy & Process, and Space markets.