Heritage Global Inc. reports on an asset-services business that values and monetizes industrial and financial assets through acquisition, disposition, valuation, brokerage and lending services for surplus and distressed assets. The company operates through Industrial Assets and Financial Assets business units, including Heritage Global Partners for auctions, liquidation and asset advisory work, Heritage Global Valuations for commercial and industrial appraisals, and National Loan Exchange for charged-off and nonperforming asset portfolios.
Recurring company updates include quarterly results, share repurchase activity, asset auctions, valuation and advisory appointments, facility investments, and completed acquisitions such as DebtX, which expands loan-portfolio advisory and secondary-market services within the Financial Assets division.
Heritage Global Inc. (Nasdaq: HGBL) announced plans for an underwritten public offering of common stock. The offering may include a 30-day option for underwriters to purchase up to an additional 15% of shares sold. Proceeds will be utilized for general corporate purposes, which may encompass business expansions and growth capital. The offering is subject to market conditions and is registered under a shelf registration statement effective since September 15, 2020. Lake Street Capital Markets is the sole book-running manager for this offering.