GHM S-3 SEC Filing Analysis

Latest settled — T+20d

GHM ▲ +4.86% at T+20d

NEUTRAL call ✓ call won +4.86% · α vs SPY -0.40% · entry $94.80 → $99.41

Next anchor: T+60d in 7w

Last close $95.34 (close Jun 8) · +0.57% from $94.80 entry

Entry anchored
Apr 30, 2026
via day open

T+1d

-1.18%

call -1.18% · α -0.84%

$93.68

settled 6w ago

T+5d

+3.58%

call +3.58% · α +1.23%

$98.19

settled 5w ago

T+20d

+4.86%

call +4.86% · α -0.40%

$99.41

settled 12d ago

T+60d

—

call — · α —

—

in 7w

Price Chart

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Executive Summary

Graham Corp filed an S-3 registration statement to register 599,808 shares of common stock for resale by T. Rowe Price-affiliated selling stockholders. These shares were issued in a $50M PIPE that closed on April 16, 2026 at $83.36 per share. The company receives no proceeds from this resale registration — it is a contractual obligation under the PIPE's registration rights agreement.

Actionable Insight

This is a routine resale registration tied to the April 14 PIPE — no new dilution or capital raise. The ~5.1% overhang from T. Rowe Price's registered shares could create modest selling pressure over time, but the PIPE was priced at a 12% discount to the 20-day VWAP, suggesting the investor had already locked in a discount. Monitor for any 424B prospectus supplements indicating actual sales by the selling stockholders.

Key Facts

S-3 registers 599,808 shares of common stock for resale by T. Rowe Price-managed accounts
Shares were issued in a PIPE on April 14, 2026 at $83.36/share for $50M aggregate gross proceeds
Company will not receive any proceeds from the resale of shares under this S-3
PIPE closed on April 16, 2026; S-3 filed on April 30, 2026 (within the 30-day contractual window)
Based on 11,672,823 shares outstanding as of April 27, 2026, the registered shares represent ~5.1% of outstanding
Stock closed at $94.66 on April 27, 2026 — 13.6% above the PIPE price of $83.36

Financial Impact

No new capital raised; 599,808 shares registered for resale (~5.1% of outstanding at current market value of ~$56.8M based on $94.66/share)

dilution

Risk Factors

Potential overhang from up to 599,808 shares being sold into the market over time
T. Rowe Price may sell shares at any time, creating intermittent supply pressure

Market Snapshot

Exchange

NYSE

Sector

General Industrial Machinery & Equipment

Analyst Consensus

78% bullish (9 analysts)

Documents Analyzed

This report is based on 7 SEC documents filed with EDGAR.

Document	Accession Number
S-3 Filing (Primary)	0001193125-26-197499
Document: d62648dexfilingfees.htm	0001193125-26-197499
Document: d62648dex51.htm	0001193125-26-197499
Document: d62648dex231.htm	0001193125-26-197499
Document: 0001193125-26-197499-index-headers.html	0001193125-26-197499
Document: 0001193125-26-197499-index.html	0001193125-26-197499
Document: 0001193125-26-197499.txt	0001193125-26-197499

3 reports for GHM

T+1T+5T+20T+60

Filters

Reports for GHM — sortable, filterable
	Type				Now
Jun 8, 2026 1d ago	8-K MIXED ★ 6/10	$106.77 awaiting T+20	awaiting T+20	—	$95.34 (−10.71%)
Apr 30, 2026 5w ago	S-3 NEUTRAL ★ 4/10	$94.80 $99.41	▲ +4.86%	▼ −0.40%	$95.34 (+0.57%)
Apr 15, 2026 7w ago	8-K NEUTRAL ★ 5/10	$91.97 $99.12	▲ +7.77%	▲ +1.73%	$95.34 (+3.66%)

US Market Status

Market Closed — Opens in 7h 8m

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