Alta Equipment Group (ALTG) Prices 2.2M Share Upsized Secondary Offering of Common Stock at $16.25/Each
Alta Equipment Group Inc. (NYSE:) (“Alta” or the “Company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced the pricing of an upsized underwritten secondary offering of 2,200,000 shares of its common stock, par value $0.0001 per share (the “Common Stock”) by an affiliate of B. Riley Financial, Inc. (the “Selling Stockholder”) at a price to the public of $16.25 per share. The underwriters have been granted a 30-day option to purchase up to an additional 330,000 shares of Common Stock from the Selling Stockholder. The offering is expected to close on July 25, 2023, subject to the satisfaction of customary closing conditions.
Alta is not offering any shares of Common Stock in this offering and will not receive any proceeds from the sale of shares by the Selling Stockholder and will bear certain costs associated with the sale of such shares, but not underwriting discounts and commissions.
D.A. Davidson & Co. and B. Riley Securities are acting as joint book-running managers and representatives of the underwriters for the offering. Northland Capital Markets is serving as a co-manager for the offering.
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