AAON / BasX deal terms: $100M upfront, up to $80M earn-out, $22M real estate

The AAON-BasX transaction was funded with cash, revolver borrowings, and equity: $100M upfront, up to $80M additional equity subject to earn-out milestones through 2023, plus a $22M real estate purchase.

“The terms required an upfront payment of $100 million of which almost all was funded via cash-on-hand. Additional payments, all of which would be in the form of equity, valued at up to an additional $80 million, are subject to earn-out milestones that extend through 2023.”

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