Alta Equipment Group Inc | Depositary Shares Series A Cumulative Preferred Stock (ALTG.PRA)
Prospectus excerpt: Alta Equipment Group Inc. is offering 1,190,000 depositary shares, each representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”), which we refer to in this prospectus as the depositary shares. 1,190 shares of Series A Preferred Stock underlying the depositary shares will be deposited with Continental Stock Transfer & Trust Company, as depositary. As a holder of the depositary shares, you will be entitled to all proportional rights, preferences and privileges of the Series A Preferred Stock represented thereby, including dividend, voting, redemption and liquidation rights and preferences. The proportionate liquidation preference of each depositary share is $25.00. We will pay cumulative distributions on the Series A Preferred Stock underlying the depositary shares, from, and including, the date of original issuance, in the amount of $2.50 per depositary share each year, which is equivalent to 10% of the $25.00 liquidation preference per depositary share. Dividends on the Series A Preferred Stock will be payable quarterly in arrears, on or about the last day of January, April, July and October of each year (or, if not on a business day, on the next succeeding business day). The first dividend on the depositary shares sold in this offering will be paid on or about April 30, 2021.
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Alta Equipment Group is a holding company. Through its subsidiaries, Co. owns and operates an equipment dealership platform in the U.S. Co. engages in several business activities, including: new equipment sales, which sell new material handling and construction equipment; used equipment sales, which sell used equipment, primarily from equipment trade-ins from Co.'s new and returning customers; parts sales, in which Co. is a distributor of original equipment manufacturer parts in substantially all of its territories; and repair and maintenance services, which provide maintenance and repair services for Co.'s customers' equipment and maintain its own rental fleet. Preferred: ALTG.PRA Open the ALTG Information Page » |
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