Friedman Industries Acquires Certain Assets of Plateplus for $72.4M and Stock

FRIEDMAN INDUSTRIES INC

Friedman Industries acquired real estate, buildings, equipment, inventory, and client relationships from Plateplus’ East Chicago, IN and Granite City, IL facilities and other locations.
Total consideration of approximately $72.4 million in cash and 516,041 shares of Friedman common stock.
The acquisition was financed through an expansion of Friedman’s asset-based lending facility from $75M to $150M.
The filing includes audited financial statements of the acquired assets and pro forma combined financial information.
Net assets acquired totaled $72.9 million as of March 31, 2022.

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