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IDEX Corporation Announces Pricing of Public Offering of Senior Notes

By: via Business Wire

IDEX Corporation (NYSE: IEX) (“IDEX” or the “company”) today announced the pricing of its public offering of $500 million principal amount of 4.950% Senior Notes due 2029. The notes will be unsecured senior obligations that rank equal in right of payment to all of IDEX’s existing and future senior indebtedness. Closing of the offering is expected to occur on August 21, 2024, subject to the satisfaction of customary closing conditions.

IDEX estimates that the net proceeds from the offering will be approximately $495.0 million, after deducting underwriting discounts and commissions and its estimated offering expenses. The company intends to use the net proceeds from this offering, together with available revolving credit facility borrowings and cash on hand, to (i) fund the cash consideration payable by IDEX to consummate its previously announced acquisition of all of the issued and outstanding capital stock of Mott Corporation and its subsidiaries and (ii) pay fees and expenses in respect of the foregoing.

Wells Fargo Securities, LLC, BofA Securities, Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering.

IDEX is making this offering pursuant to a shelf registration statement that automatically became effective upon filing with the Securities and Exchange Commission (the “SEC”). This offering will be made solely by means of a prospectus and prospectus supplement. You may obtain a copy of the preliminary prospectus supplement, the accompanying prospectus and the final prospectus supplement, when available, for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, any underwriter or any dealer participating in the offering will arrange to send you any of those documents upon request by contacting the joint book-running managers at:

Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attn: WFS Customer Service; Telephone (800) 645-3751 or Email: wfscustomerservice@wellsfargo.com

BofA Securities, Inc., 201 North Tryon Street (NC1-022-02-25), Charlotte, North Carolina 28255-0001, Attn: Prospectus Department; Telephone: (800) 294-1322 or Email: dg.prospectus_requests@bofa.com

J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York, 10179, Attn: Investment Grade Syndicate Desk, 3rd Floor; Telephone: (212) 834-4533.

This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements relate to, among other things, expectations regarding the anticipated closing of the notes offering and IDEX’s intended use of net proceeds therefrom. Statements which are not historical facts and relate to future plans, events or performance are forward-looking statements that are based upon management’s current expectations and are subject to risks and uncertainties. The forward-looking statements are based on management’s current expectations and should not be construed in any manner as a guarantee that such events or results will in fact occur. All forward-looking statements speak only as of the date of this press release and IDEX undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Detailed information regarding risk factors with respect to IDEX and the offering are included in the company’s filings with the SEC, including the prospectus and prospectus supplement for the offering. The forward-looking statements included here are only made as of the date of this press release, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented here. Any such forward-looking statements are not guarantees of future performances and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements.

About IDEX

IDEX Corporation (NYSE: IEX) designs and builds engineered products and mission-critical components that make everyday life better. IDEX precision components help craft the microchip powering your electronics, treat water so it is safe to drink, and protect communities and the environment from sewer overflows. Our optics enable communications across outer space, and our pumps move challenging fluids that range from hot, to viscous, to caustic. IDEX components assist healthcare professionals in saving lives as part of many leading diagnostic machines, including DNA sequencers that help doctors personalize treatment. And our fire and rescue tools, including the industry-leading Hurst Jaws of Life®, are trusted by rescue workers around the world. These are just some of the thousands of products that help IDEX live its purpose – Trusted Solutions, Improving Lives™. Founded in 1988 with three small, entrepreneurial manufacturing companies, IDEX now includes more than 50 diverse businesses around the world. With about 8,800 employees and manufacturing operations in more than 20 countries, IDEX is a diversified, high-performing, global company with approximately $3.3 billion in annual sales.

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