Atlas Critical Minerals Corporation explores and develops critical minerals projects in Brazil for energy, technology, aerospace and defense applications. News about ATCX centers on its portfolio of rare earths, nuclear-grade graphite, uranium, titanium and iron ore assets, including updates on graphite mineral rights, rare earth metallurgical testing at the Alto do Paranaíba Project, and operations at the Rio Piracicaba Iron Ore Project.
Company updates also cover Nasdaq listing and public-offering milestones, technical leadership appointments, analyst coverage, shareholder voting matters, capital-structure disclosure and risk factors tied to exploration and development activities.
Atlas Technical Consultants (Nasdaq: ATCX) has successfully acquired Atlantic Engineering Laboratories (AEL), enhancing its service offerings in the New York tri-state area. This acquisition strengthens Atlas's position in the infrastructure sector, capitalizing on rising infrastructure spending. AEL, with over 275 employees, specializes in materials testing and engineering services. The terms of the acquisition were not disclosed, but this move is expected to enable Atlas to cross-sell services and expand its market share.
Atlas Technical Consultants (Nasdaq: ATCX) announced a significant contract award from the Georgia Department of Transportation, valued at up to $10 million. This contract involves on-call consultant services for Maintenance Engineering and Inspection in the East Central Georgia region. The agreement spans three years, with a possible two-year extension. Atlas aims to enhance its Program, Construction and Quality Management services through this partnership, reaffirming its commitment to quality and safety in transportation services throughout Georgia.
Atlas Technical Consultants (Nasdaq: ATCX) has been awarded a $2.4 million contract by Forsyth County, Georgia, for Construction Management and Inspection services related to the widening of State Route 369 and constructing an interchange at SR 400. This project, with a $45.1 million construction budget, aims to enhance the existing two-lane roadway and upgrade an intersection to a grade-separated cloverleaf interchange, collaborating with the Georgia Department of Transportation. Atlas has partnered with Forsyth County for over 20 years.
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) has secured a three-year contract with the City of Augusta, Georgia, to provide environmental compliance, testing, and engineering services. This project involves landfill site studies, design services, and compliance activities, potentially renewable for two additional years. The landfill, Deans Bridge MSW Landfill, processes 1,000 to 1,500 tons of waste each day. Atlas’s expertise aims to enhance community safety around the landfill area.
Atlas Technical Consultants (Nasdaq: ATCX) reported strong fourth quarter 2020 results with gross revenue of $125.7 million, up from $113.0 million YOY, boosted by infrastructure work and acquisitions. However, the company incurred a net loss of $6.3 million, versus a loss of $5.5 million a year earlier. For FY 2021, Atlas projects revenue between $500 million and $520 million and adjusted EBITDA between $70 million and $76 million. The company completed several acquisitions and a comprehensive recapitalization to strengthen its balance sheet and enhance growth opportunities.
Atlas Technical Consultants (Nasdaq: ATCX) announced its acquisition of Atlantic Engineering Laboratories (AEL), enhancing its operational capacity in the New York Tri-State area. AEL, with over 275 employees, specializes in materials testing and inspection since 2004. This strategic move aims to leverage AEL's reputation for quality and customer service to accelerate growth and expand Atlas' cross-selling capabilities. The deal is set to close in Q2 2021, with terms undisclosed, promising synergies in environmental and engineering services.
Atlas Technical Consultants (ATCX) announced a major recapitalization designed to enhance liquidity and reduce its cost of capital. The company replaced its existing debt with a more favorable $432 million long-term loan maturing in 2028, along with a $75 million delayed draw term loan and a $40 million revolving credit facility. This restructuring will save approximately $13 million in cash outlays in year one and $8 million annually thereafter. Additionally, all Series A preferred equity units have been redeemed, marking significant progress in simplifying Atlas's capital structure.
Atlas Technical Consultants (Nasdaq: ATCX) will announce its fourth quarter and full year 2020 financial results on March 8, 2021, after market close. A conference call and webcast to discuss these results will take place at 5:00 p.m. Eastern time. Interested parties can access the live event and replay it via the company's website. With a strong national presence and over 3,300 employees, Atlas offers a wide range of testing, inspection, engineering, and consulting services across various sectors, including transportation and government.
Atlas Technical Consultants (ATCX) has been awarded a $9 million contract by the California Department of Transportation (Caltrans) to perform professional and technical services for a duration of three years. This collaboration builds on Atlas/Alta Vista's robust history with Caltrans, providing essential materials testing for major infrastructure projects. The contract aims to enhance engineering standards and deliver innovative solutions to meet the challenges of California's extensive infrastructure needs.
Atlas Technical Consultants (Nasdaq: ATCX) has secured a $5 million contract from the Texas Department of Transportation (TxDOT) for the reconstruction and widening of US 290 and State Highway 71 in Austin. As the owner's representative, Atlas will conduct Owner Verification Testing & Inspection (OVT&I) for this five-year project. With over 20 years of partnership with TxDOT, Atlas has participated in 22 out of 25 relevant projects, reinforcing its expertise in the sector. Construction is slated to begin in early Fall 2021.