Alta Equipment closes secondary offering of 2.2M shares at $16.25; selling stockholder nets $34M

ALTA EQUIPMENT GROUP INC.

Secondary offering of 2,200,000 shares of common stock priced at $16.25 per share closed July 25, 2023.
Selling stockholder BRF Investments (affiliate of B. Riley) received net proceeds of ~$34.0M after discounts/expenses.
Company received no proceeds; no new shares were issued – all shares sold by selling stockholder.
Underwriters included D.A. Davidson & Co. and B. Riley Securities; Northland Capital Markets co-managed.
Thirty-day option for underwriters to purchase up to 330,000 additional shares from selling stockholder.

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