ATTO Stock Price, News & Analysis

Atento S.A. (NYSE: ATTO) announced the postponement of its proposed private offering of new senior secured notes due to unfavorable market conditions. Concurrently, the company is terminating its cash tender offer to refinance existing 6.125% Senior Secured Notes due 2022, which was intended to utilize proceeds from the new offering. Atento is committed to reviewing its options once market conditions improve, while continuing to focus on its Three Horizon Plan.

Atento S.A. (NYSE: ATTO) announced the termination of its tender offer for the outstanding 6.125% Senior Secured Notes due 2022. This decision stems from unmet financing conditions and adverse market conditions, leading to the postponement of a previously planned new secured notes offering. Consequently, no tendered Notes will be purchased, and all submitted instructions will be automatically revoked. Atento expressed gratitude to Note Holders for their engagement and indicated a future review of options once market conditions stabilize.

Atento S.A. (NYSE: ATTO) announced a cash tender offer to refinance its outstanding 6.125% Senior Secured Notes due 2022. The offer is part of a strategy to improve financial flexibility and is being funded through a proposed issuance of new secured notes and cash on hand. The total consideration for the notes is set at U.S.$1,000.00, with an early tender payment of U.S.$30.00 for those participating by October 1, 2020. The offer will expire on October 16, 2020. Holders are advised to review the Offer to Purchase for complete terms.

Atento S.A. (NYSE: ATTO) announced a proposed private offering of senior secured notes by its subsidiary, Atento Luxco 1, aimed at refinancing existing senior secured notes due 2022. The cash proceeds will be used for this refinancing. The Notes will be guaranteed by certain wholly-owned subsidiaries and secured by a first-priority lien on the capital stock of both the Issuer and the guarantors. This offering is limited to qualified institutional buyers and is not registered under the U.S. Securities Act.

On Sept. 14, 2020, Atento S.A. (NYSE: ATTO) announced its plan to migrate its ERP system from SAP ECC to SAP S/4HANA across 13 countries. The migration, set to start in Brazil, will take two years and is supported by a partnership between SAP and Microsoft. Chief Financial Officer José Azevedo emphasized this transition as part of Atento's digital transformation to enhance operational efficiency and capitalize on growth opportunities in the CRM/BPO market. The new cloud-based system will improve decision-making and internal operations through advanced data analytics.

Atento S.A. (NYSE: ATTO) reported Q2 2020 results, revealing a 12.1% revenue decline to $314.5 million due to Covid-19 impacts. Despite this, run-rate EBITDA surged 31.9% year-over-year, with a margin of 14.3%. The company maintains financial liquidity with cash reserves of $207.2 million and Free Cash Flow of $44.1 million. A new cost-saving program targets $80 million in annual savings. However, Net Income fell to -$18.3 million from -$6.8 million, reflecting ongoing challenges. The reverse share split was executed to comply with NYSE rules.

Atento S.A. (NYSE: ATTO) announced that its shareholders approved a reverse share split, converting 75,406,357 ordinary shares into 15,000,000 shares at a ratio of 5.0271. This action aims to meet NYSE listing requirements due to shares trading below the $1.00 threshold for 30 consecutive days. The reverse split will take effect after trading hours on July 29, 2020, with trading on a split-adjusted basis commencing on July 30, 2020. No fractional shares will be issued, and the trading symbol will remain "ATTO".

Atento S.A. (NYSE: ATTO) announced it will release its fiscal Second Quarter 2020 financial results on August 5, 2020, after the market closes. A conference call to discuss these results will take place on August 6, 2020, at 11:00 a.m. Eastern Time. As the largest CRM/BPO provider in Latin America and among the top five globally, Atento serves over 400 clients across diverse sectors, employing 150,000 people in 13 countries. The company continues its commitment to delivering high-quality service to leading multinational corporations.

Atento S.A. (NYSE: ATTO) has announced new board appointments following a recent acquisition by institutional investors HPS, GIC, and Farallon, who now hold significant share percentages. Effective June 24, 2020, the new directors, including executives from these firms, replace previous Bain Capital representatives. CEO Carlos López-Abadía emphasized that these appointments will support Atento's transformation plan and market leadership. The company remains a major player in CRM/BPO services in Latin America and is known for its innovative customer experience solutions.