Welcome to our dedicated page for Alta Equipment Group news (Ticker: ALTG), a resource for investors and traders seeking the latest updates and insights on Alta Equipment Group stock.
Alta Equipment Group Inc (ALTG) provides integrated equipment solutions across material handling and construction sectors through sales, rentals, and nationwide service support. This news hub delivers timely updates on corporate developments essential for tracking ALTG's market position and operational strategy.
Access official press releases covering earnings reports, equipment launches, strategic partnerships, and leadership updates. Investors and industry professionals will find curated announcements on fleet expansions, service innovations, and market expansion initiatives within ALTG's key operational regions.
The repository emphasizes material handling advancements, construction equipment deployments, and aftermarket service enhancements. Content spans financial performance milestones, sustainability initiatives, and technology integrations across ALTG's dual business segments.
Bookmark this page for streamlined access to verified ALTG updates, ensuring informed analysis of their equipment dealership leadership and industrial solutions evolution. Check regularly for new developments impacting North American manufacturing and infrastructure sectors.
Alta Equipment Group (NYSE: ALTG) announced the pricing of a $500 million private offering of 9.000% senior secured second lien notes due 2029. These notes were priced at 97.094% of their face value and are set to close on June 5, 2024, pending customary conditions. The proceeds will be used to refinance existing credit facilities and redeem outstanding notes. The notes will be guaranteed by all domestic subsidiaries and secured by a second lien on most company assets. Concurrently, Alta plans to amend and extend its existing credit facilities to new terms and amounts, with the new facilities secured by a first-priority lien on the same assets.
Alta Equipment Group (NYSE: ALTG) announced a proposed private offering of $500 million in senior secured second lien notes due 2029. This offering, subject to market conditions, will be guaranteed by all domestic subsidiaries and secured by a second lien on nearly all company assets. Concurrently, the company plans to amend and extend its existing credit facilities, replacing them with a new $520 million asset-based revolving credit facility and a $90 million floor plan facility, both due 2029. The proceeds will be used to refinance existing facilities, redeem outstanding notes, and for general corporate purposes. The offering aims to be leverage neutral and targets qualified institutional buyers and non-U.S. persons per Rule 144A and Regulation S under the Securities Act.
Alta Equipment Group Inc. (NYSE: ALTG) posted first-quarter 2024 financial results with total revenues reaching $441.6 million, a $20.9 million increase year over year. Construction and Material Handling revenues stood at $255.6 million and $174.3 million, respectively. Product support revenues rose by 6.5% with Parts sales hitting $72.9 million and Service revenues at $64.0 million. New and used equipment sales grew by 4.1% to $228.6 million. Adjusted EBITDA amounted to $34.1 million.
Alta Equipment Group Inc. (NYSE: ALTG) declared a quarterly dividend of $0.057 per share for common stockholders. The dividend payment is scheduled for May 31, 2024, for shareholders on record as of May 15, 2024.
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