• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI SuperconnectorNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI SuperconnectorNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Superconnector
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI superconnector for talent & startupsNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Otis Worldwide Corporation filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

    9/4/25 4:26:40 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology
    Get the next $OTIS alert in real time by email
    falseOtis Worldwide Corp0001781335NYSENYSENYSENYSE00017813352025-09-022025-09-020001781335otis:Two875NotesDue2027Member2025-09-022025-09-020001781335us-gaap:CommonStockMember2025-09-022025-09-020001781335otis:Zero318NotesDue2026Member2025-09-022025-09-020001781335otis:Zero934NotesDue2031Member2025-09-022025-09-02

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549



    FORM 8-K



    CURRENT REPORT
    Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

    Date of Report (Date of earliest event reported): September 4, 2025 (September 2, 2025)



    graphic

    OTIS WORLDWIDE CORPORATION
    (Exact name of registrant as specified in its charter)



    Delaware
    001-39221
    83-3789412
    (State or other jurisdiction of
    incorporation)
    (Commission File Number)
    (I.R.S. Employer Identification No.)

    One Carrier Place
    Farmington, Connecticut 06032
    (Address of principal executive offices, including zip code)

    Registrant’s telephone number, including area code
    (860) 674-3000

    N/A
    (Former name or former address, if changed since last report)



    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

    ☐
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

    ☐
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

    ☐
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

    ☐
    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

    Emerging growth company ☐

    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

    Securities registered pursuant to Section 12(b) of the Act:

    Title of each class
    Trading
    Symbol(s)
    Name of each exchange on which registered
    Common Stock ($0.01 par value)
    OTIS
    New York Stock Exchange
    0.318% Notes due 2026
    OTIS/26
    New York Stock Exchange
    2.875% Notes due 2027
    OTIS/27
    New York Stock Exchange
    0.934% Notes due 2031
    OTIS/31
    New York Stock Exchange



    Section 8 – Other Events

    Item 8.01.  Other Events.

    On September 4, 2025, Otis Worldwide Corporation (the “Company”) issued $500 million aggregate principal amount of its 5.131% Notes due 2035 (the “Otis Notes”).

    The Otis Notes were registered under the Securities Act of 1933, as amended (the “Act”), pursuant to the Company’s Registration Statement on Form S-3ASR (File No. 333-270834) (the “Registration Statement”) filed on March 24, 2023.  On September 4, 2025, the Company filed with the SEC a Prospectus Supplement dated September 2, 2025 (the “Otis Prospectus Supplement”) containing the final terms of the Otis Notes pursuant to Rule 424(b)(2) of the Act.

    In connection with the offer and sale of the Otis Notes, the Company entered into an Underwriting Agreement, dated September 2, 2025 (the “Otis Underwriting Agreement”), with BofA Securities, Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC, as representatives of the underwriters named in Schedule A thereto.  A copy of the Otis Underwriting Agreement has been filed as exhibit 1.1 to this Current Report and is incorporated herein by reference.  The Otis Notes were issued under the Indenture, dated as of February 27, 2020 (the “Otis Base Indenture”), as supplemented by the Supplemental Indenture No. 5, dated as of September 4, 2025 (the “Otis Supplemental Indenture” and, the Otis Base Indenture as supplemented by the Otis Supplemental Indenture, the “Otis Indenture”), in each case between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee.  The Otis Base Indenture, the Otis Supplemental Indenture and a form of the Otis Notes have been filed as exhibits 4.1, 4.2 and 4.3 to this Current Report on Form 8-K and are incorporated herein by reference.

    The net proceeds to the Company from the sale of the Otis Notes, after the underwriting discount and offering expenses, are estimated to be approximately $495.2 million. The Company intends to use the net proceeds from this offering to fund the repayment at maturity of its 0.370% Notes due March 18, 2026 (the “2026 Yen Notes”), of which ¥21.5 billion (approximately $147 million as of June 30, 2025) principal amount is currently outstanding. The Company intends to use the remainder of the proceeds to fund the repayment of certain of its commercial paper borrowings and for other general corporate purposes.

    The Otis Notes will bear interest at the rate of 5.131% per annum and mature on September 4, 2035.  Interest on the Otis Notes will be payable on March 4 and September 4 of each year, beginning on March 4, 2026.

    At any time, and from time to time, prior to June 4, 2035, the Company may redeem the Otis Notes, in whole or in part, at a redemption price equal to the principal amount of the Otis Notes being redeemed plus an applicable “make-whole” premium, plus accrued and unpaid interest on the principal amount of the Otis Notes being redeemed to, but excluding, the relevant redemption date.  At any time on or after June 4, 2035, the Company may redeem the Otis Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Otis Notes being redeemed, plus accrued and unpaid interest, if any, on the principal amount of the Note being redeemed to, but excluding, the relevant redemption date.

    Upon the occurrence of a Change of Control Triggering Event (as defined in the Otis Base Indenture) unless the Company has exercised its right to redeem the Otis Notes by giving irrevocable notice on or prior to the 30th day after the Change of Control Triggering Event in accordance with the Otis Indenture, each holder of the Otis Notes will have the right to require the Company to purchase all or a portion of such holder’s Otis Notes pursuant to an offer as described in the Otis Prospectus Supplement at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, thereon to, but excluding, the Change of Control Payment Date (as defined in the Otis Base Indenture).

    The Otis Notes are unsecured, unsubordinated obligations of the Company and rank equally in right of payment with all of the Company’s existing and future unsecured, unsubordinated indebtedness.  The Otis Notes were issued in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof.


    The Otis Indenture imposes restrictions on the Company and certain of its subsidiaries, including certain restrictions customary for financings of this type that, among other things, limit the ability to incur additional liens, to make certain fundamental changes and to enter into sale and leaseback transactions.  In addition, the Otis Indenture contains events of default customary for financing of this type.

    For further information about the terms and conditions of the Otis Underwriting Agreement, the Otis Indenture and the Otis Notes, please refer to the Otis Prospectus Supplement.  The descriptions of the Otis Underwriting Agreement, the Otis Indenture and the Otis Notes herein and in the Otis Prospectus Supplement are summaries and are qualified in their entirety by the terms of the Otis Underwriting Agreement, the Otis Indenture and the Otis Notes, respectively.

    This report is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.  No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Act.

    Section 9 – Financial Statements and Exhibits

    Item 9.01.  Financial Statements and Exhibits.

    (d) Exhibits.

    Exhibit
    Number
    Exhibit Description
    1.1
    Underwriting Agreement, dated as of September 2, 2025, among Otis Worldwide Corporation, BofA Securities, Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC, as representatives of the other underwriters named in Schedule A thereto.
       
    4.1
    Indenture, dated as of February 27, 2020, among Otis Worldwide Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee, incorporated by reference to Exhibit 4.1 to the Company’s Amendment No. 1 to Registration Statement on Form 10 (Commission file number 001-39221) filed with the SEC on March 11, 2020.
       
    4.2
    Supplemental Indenture No. 5, dated as of September 4, 2025, between Otis Worldwide Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee.
       
    4.3
    Form of 5.131% Otis Note due 2035 (included in Exhibit 4.2 hereto).
       
    5.1
    Opinion of Wachtell, Lipton, Rosen & Katz, dated September 4, 2025 with respect to the Otis Notes.
       
    5.4
    Consent of Wachtell, Lipton, Rosen & Katz, dated September 4, 2025 (included in Exhibit 5.1 hereto), with respect to the Otis Notes.
       
    104
    Cover Page Interactive Data File — the cover page XBRL tags are embedded within the Inline XBRL document.


    SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     
    OTIS WORLDWIDE CORPORATION
    (Registrant)
         
    Date: September 4, 2025
    By:
    /s/ Cristina Méndez
       
    Cristina Méndez
       
    Executive Vice President & Chief Financial Officer
         


    Get the next $OTIS alert in real time by email

    Crush Q3 2025 with the Best AI Superconnector

    Stay ahead of the competition with Standout.work - your AI-powered talent-to-startup matching platform.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Standout.work

    Recent Analyst Ratings for
    $OTIS

    DatePrice TargetRatingAnalyst
    7/25/2025Underperform → Peer Perform
    Wolfe Research
    7/15/2025$109.00Neutral → Overweight
    Analyst
    7/14/2025$109.00Hold
    Deutsche Bank
    12/12/2024$104.00Peer Perform → Underperform
    Wolfe Research
    12/5/2024$94.00Equal Weight → Underweight
    Barclays
    11/13/2024$97.00 → $113.00Neutral
    UBS
    10/8/2024Outperform → Peer Perform
    Wolfe Research
    9/6/2024$97.00Equal-Weight
    Morgan Stanley
    More analyst ratings

    $OTIS
    Press Releases

    Fastest customizable press release news feed in the world

    View All

    Otis Chosen by Mountain View for Egyptian Real Estate Projects

    Otis will provide advanced elevator solutions for three innovative communities. CAIRO, Sept. 8, 2025 /PRNewswire/ -- Otis (NYSE:OTIS) the world's leading elevator and escalator manufacturing, installation and service company, will provide and install 265 Otis Gen2® Prime elevator systems for Mountain View Real Estate Development's residential compound projects, including the extension of Mountain View 1.1 Project in New Cairo, Mountain View iCity in New Cairo, and iCity in 6th of October City. Gabriele Agostini, Otis Managing Director for Egypt said, "Our advanced elevator sol

    9/8/25 5:00:00 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    Otis CEO to Speak at Morgan Stanley Conference

    FARMINGTON, Conn., Aug. 29, 2025 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) Chair, CEO & President Judy Marks will participate in a fireside chat at the 13th annual Laguna conference hosted by Morgan Stanley on Friday, September 12, 2025 at 10:00 a.m. PT (1:00 p.m. ET). The presentation will be broadcast live at www.otis.com. About OtisOtis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all co

    8/29/25 2:50:00 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    Otis Chosen to Help Connect Singapore on Cross Island Line Phase 1 and Punggol Extension

    SINGAPORE, Aug. 20, 2025 /PRNewswire/ -- Otis (NYSE:OTIS), the world's leading elevator and escalator manufacturing, installation and service company, has been selected by the Land Transport Authority (LTA) to help create a seamless and user-friendly transport experience on the Singapore Mass Rail Transport (MRT)'s new Cross Island Line. Otis will provide 336 heavy-duty and public escalators and moving walkways, together with 186 Gen3™ elevators. As the longest fully underground MRT line in Singapore, the Cross Island Line will connect major hubs including the Jurong Lake Dist

    8/20/25 7:00:00 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    $OTIS
    SEC Filings

    View All

    Otis Worldwide Corporation filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

    8-K - Otis Worldwide Corp (0001781335) (Filer)

    9/4/25 4:26:40 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    Amendment: SEC Form SCHEDULE 13G/A filed by Otis Worldwide Corporation

    SCHEDULE 13G/A - Otis Worldwide Corp (0001781335) (Subject)

    9/4/25 1:41:37 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    SEC Form FWP filed by Otis Worldwide Corporation

    FWP - Otis Worldwide Corp (0001781335) (Subject)

    9/2/25 4:36:40 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    $OTIS
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    View All

    Otis Worldwide upgraded by Wolfe Research

    Wolfe Research upgraded Otis Worldwide from Underperform to Peer Perform

    7/25/25 8:52:50 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    Otis Worldwide upgraded by Analyst with a new price target

    Analyst upgraded Otis Worldwide from Neutral to Overweight and set a new price target of $109.00

    7/15/25 8:29:45 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    Deutsche Bank initiated coverage on Otis Worldwide with a new price target

    Deutsche Bank initiated coverage of Otis Worldwide with a rating of Hold and set a new price target of $109.00

    7/14/25 8:53:48 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    $OTIS
    Financials

    Live finance-specific insights

    View All

    Otis Declares Quarterly Dividend of $0.42 per Share

    FARMINGTON, Conn., July 24, 2025 /PRNewswire/ -- The Otis Worldwide Corporation (NYSE:OTIS) Board of Directors today declared a quarterly dividend of $0.42 per share of Otis' common stock. The dividend will be payable on September 5, 2025, to shareholders of record at the close of business on August 15, 2025. About Otis Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, in

    7/24/25 4:29:00 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    OTIS REPORTS SECOND QUARTER 2025 RESULTS

    Otis delivers mid-single digit organic Service sales growth and continued Service operating profit margin expansion and reconfirms 2025 EPS outlook Second quarter 2025  •  Service net sales up 6% with organic sales up 4%... Service operating profit margin up 20 bps •  GAAP EPS down 3% and adjusted EPS down 1% •  Maintenance portfolio units up 4% •  Modernization orders up 22% at constant currency, backlog up 19%, up 16% at constant currency •  New Equipment orders down 1% at constant currency, up 11% excluding China First half 2025  •  Service net sales up 4% with organic sales up 4%... Service operating profit margin up 20 bps •  GAAP EPS down 15% and adjusted EPS up 2% •  GAAP cash flow fr

    7/23/25 6:15:00 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    Otis Second Quarter 2025 Earnings Advisory

    FARMINGTON, Conn., July 9, 2025 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) will host a conference call on Wednesday, July 23, 2025, at 8:30 a.m. ET. Otis Chair, CEO & President Judy Marks and Executive Vice President & CFO Cristina Mendez will discuss the company's second quarter results and 2025 outlook. We encourage you to join through our webcast link. A corresponding presentation and news release will be available on www.otis.com prior to the call and a recording will be available on the website later in the day. If you are unable to join via the webcast, please contact Otis investor relations ([email protected]) for alternative dial-in information. Additional inves

    7/9/25 7:00:00 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    $OTIS
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    View All

    SEC Form 4 filed by EVP & CPO Gosk Kimberly Shannon

    4 - Otis Worldwide Corp (0001781335) (Issuer)

    9/3/25 4:16:30 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    EVP & CFO Mendez Echevarria Maria Cristina converted options into 2,092 shares and covered exercise/tax liability with 820 shares, increasing direct ownership by 39% to 4,566 units (SEC Form 4)

    4 - Otis Worldwide Corp (0001781335) (Issuer)

    8/25/25 4:26:52 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    New insider Gosk Kimberly Shannon claimed ownership of 5,688 shares (SEC Form 3)

    3 - Otis Worldwide Corp (0001781335) (Issuer)

    8/8/25 4:08:34 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    $OTIS
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    View All

    SEC Form SC 13G filed by Otis Worldwide Corporation

    SC 13G - Otis Worldwide Corp (0001781335) (Subject)

    10/10/24 12:36:28 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    SEC Form SC 13G/A filed by Otis Worldwide Corporation (Amendment)

    SC 13G/A - Otis Worldwide Corp (0001781335) (Subject)

    2/12/24 1:59:55 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    SEC Form SC 13G/A filed by Otis Worldwide Corporation (Amendment)

    SC 13G/A - Otis Worldwide Corp (0001781335) (Subject)

    1/10/24 10:16:55 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    $OTIS
    Leadership Updates

    Live Leadership Updates

    View All

    Otis Appoints Cristina Méndez Executive Vice President & Chief Financial Officer

    She succeeds Anurag Maheshwari to lead financial activities at Otis FARMINGTON, Conn., July 19, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Cristina Méndez as Executive Vice President & Chief Financial Officer, reporting directly to Otis Chair, CEO & President, Judy Marks. Effective August 23, Méndez will succeed Anurag Maheshwari, who is pursuing an opportunity outside Otis.  "Cristina has deep expertise in financial management and extensive experience leading transformation within and outside Otis. She understands our long-term strategy and service-driven business model and how to drive growth and shareholder value," said Marks. "As a strategi

    7/19/24 8:29:00 AM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    Otis Publishes 2023 ESG Report

    Reinforces commitment to ESG in support of its business strategy FARMINGTON, Conn., June 12, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) published its 2023 ESG Report, describing its Environmental, Social and Governance (ESG) strategy and outlining progress on its 13 ESG goals. The Otis ESG strategy focuses on the key areas of Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability. Progress made in each helps to drive value for stakeholders and to advance the company's business strategy across five strategic pillars: sustain New Equipment growth, accelerate Service portfolio growth, deliver modernization value, advance digitalization, an

    6/12/24 4:45:00 PM ET
    $OTIS
    Consumer Electronics/Appliances
    Technology

    EXL Announces Appointment of Thomas Bartlett to Board of Directors and Retirement of Board Member Som Mittal

    NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- EXL (NASDAQ:EXLS), a leading data analytics and digital operations and solutions company, announced today that Thomas Bartlett has been appointed to EXL's board of directors as an independent director, effective March 6, 2024. Bartlett will serve on the board's audit committee and nominating and governance committee.   The company also announced that Som Mittal has notified the board that he will not stand for re-election at EXL's 2024 annual meeting of stockholders and therefore will be retiring from the board in June 2024. "We are excited to welcome Tom to the board," said Board Chair Vikram Pandit. "Tom brings a tremendous amount of experien

    3/7/24 4:01:00 PM ET
    $EXLS
    $OTIS
    Real Estate
    Consumer Electronics/Appliances
    Technology