Alta Equipment Group Inc. Announces Closing of Secondary Offering of Common Stock
25 Julio 2023 - 3:15PM
Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or the “Company”), a
leading provider of premium material handling, construction and
environmental processing equipment and related services, today
announced the closing of its previously announced secondary
offering of 2,200,000 shares of common stock at $16.25 per share.
The gross proceeds to the selling stockholder were approximately
$35.8 million, before deducting the underwriting discounts and
commissions and estimated offering expenses payable by the Company.
D.A. Davidson & Co. and B. Riley Securities
acted as joint bookrunning managers and representatives of the
underwriters for the offering. Northland Capital Markets served as
a co-manager for the offering.
The offering of these securities was made
pursuant to a prospectus supplement, dated July 20, 2023, to the
accompanying prospectus included in the Company’s resale shelf
registration statement, which was filed with the U.S. Securities
and Exchange Commission (the “SEC”) on March 25, 2020 and initially
declared effective on April 3, 2020, as amended by Post-Effective
Amendment No. 1, filed with the SEC on July 1, 2021 and declared
effective on July 12, 2021. Copies of the final prospectus
supplement and accompanying prospectus related to the offering may
be obtained, when available, by visiting the SEC’s website at
www.sec.gov. Alternatively, copies of the prospectus and prospectus
supplement relating to the offering may be obtained by contacting:
D.A. Davidson & Co., Attention: Equity Syndicate, 8 Third
Street North, Great Falls, MT 59401, (800) 332-5915,
prospectusrequest@dadco.com or B. Riley Securities, Inc.,
Attention: Prospectus Department, 1300 17th Street North, Suite
1300, Arlington, Virginia 22209, Phone: (703) 312-9580, Email:
prospectuses@brileyfin.com.
This press release shall not constitute an offer
to sell or the 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
registration or qualification under the securities laws of any such
state or jurisdiction.
About Alta Equipment Group Inc.
Alta owns and operates one of the largest
integrated equipment dealership platforms in the U.S. and has a
presence in Canada. Through its branch network, the Company sells,
rents, and provides parts and service support for several
categories of specialized equipment, including lift trucks and
aerial work platforms, heavy and compact earthmoving equipment,
environmental processing equipment, cranes, paving and asphalt
equipment and other material handling and construction equipment.
Alta has operated as an equipment dealership for 39 years and has
developed a branch network that includes over 75 total locations in
Michigan, Illinois, Indiana, Ohio, Massachusetts, Maine,
Connecticut, New Hampshire, Vermont, Rhode Island, New York,
Virginia, Nevada and Florida and the Canadian provinces of Ontario
and Quebec. Alta offers its customers a one-stop-shop for their
equipment needs through its broad, industry-leading product
portfolio. More information can be found at
www.altaequipment.com.
Investors:Kevin IndaSCR
Partners, LLCkevin@scr-ir.com(225) 772-0254
Media:Glenn MooreAlta Equipment
Group, LLCglenn.moore@altg.com(248) 305-2134
Alta Equipment (NYSE:ALTG)
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