secwatch.observer — SEC 8-K summary
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Issuer:     ALTA EQUIPMENT GROUP INC. (ALTG)
CIK:        0001759824
Form:       8-K
Filed at:   2024-06-06T23:59:59+00:00
Accession:  0000950170-24-069661
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alta Equipment issues $500M 9% second-lien notes due 2029; redeems $315M 5.625% notes
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- Issued $500M aggregate principal of 9.000% Senior Secured Second Lien Notes due 2029; sold at 2.906% discount, netting ~$485.5M.
- Net proceeds used to refinance ABL and floor plan facilities, redeem $315M of 5.625% Existing Notes due 2026, and for general corporate purposes.
- ABL facility borrowing capacity increased to $520M; floor plan facility to $90M; combined maximum $969M.
- Notes are second-lien secured, guaranteed by domestic subsidiaries, and subordinated to ABL and floor plan first-lien debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1759824/000095017024069661/0000950170-24-069661-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1759824/000095017024069661/altg-20240605.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-069661

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