Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or the “Company”), a 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.
The offering of these securities is being made pursuant to a resale shelf registration statement, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 25, 2020 and initially declared effective on April 3, 2020, as amended by Post-Effective Amendment No. 1, filed with the SEC on July 1, 2021 and declared effective on July 12, 2021. The offering is being made only by means of a prospectus supplement and an accompanying prospectus. A copy of the prospectus and prospectus supplement relating to the offering may be obtained, when available, by visiting the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement relating to the offering may be obtained by contacting: D.A. Davidson & Co., Attention: Equity Syndicate, 8 Third Street North, Great Falls, MT 59401, (800) 332-5915, [email protected] or B. Riley Securities, Inc., Attention: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, Phone: (703) 312-9580, Email: [email protected].
