8-K
ALTA EQUIPMENT GROUP INC. (ALTG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 8, 2024
ALTA EQUIPMENT GROUP INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-38864 | 83-2583782 |
|---|---|---|
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |
13211 Merriman Road
Livonia, Michigan 48150
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (248) 449-6700
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common stock, $0.0001 par value per share | ALTG | The New York Stock Exchange |
| Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock, $0.0001 par value per share | ALTG PRA | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02(b) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 8, 2024, as part of Alta Equipment Group Inc. (the “Company”) Board of Directors' (the “Board”) refreshment efforts, the Board approved the appointment of Katherine White as the Chair of the Nominating and Corporate Governance Committee and Sidhartha Nair, who recently joined the Board effective February 22, 2024, as the Chair of the Compensation Committee.
On April 8, 2024, Zachary Savas informed the Board of his resignation, effective immediately, and wished the Company well in the future. The Company and the Board are grateful to Mr. Savas for his years of service.
Item 7.01 Regulation FD Disclosure.
On April 12, 2024, the Company issued a press release announcing the appointment of Ms. White as the Chair of the Nominating and Corporate Governance Committee and Mr. Nair as the Chair of the Compensation Committee and the resignation of Mr. Savas, a copy of which is attached hereto as Exhibit 99.1. The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release, dated April 12, 2024, of Alta Equipment Group Inc.
101 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| ALTA EQUIPMENT GROUP INC. | |||
|---|---|---|---|
| Date: | April 12, 2024 | By: | /s/ Ryan Greenawalt |
| Name: Ryan Greenawalt<br><br>Title: Chief Executive Officer |
EX-99.1
EXHIBIT 99.1
Alta Equipment Group Announces Board Refreshment
LIVONIA, Mich. – April 12, 2024 – On April 8, 2024, the Board of Directors (the “Board”) of Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or “the Company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, approved the appointment of Katherine White as the Chair of the Nominating and Governance Committee and Sidhartha Nair, who recently joined the Board effective February 22, 2024, as the Chair of the Compensation Committee, effective immediately.
On April 8, 2024, Zachary Savas informed the Board of his resignation, effective immediately, and wished the Company well in the future. The Company and the Board are grateful to Mr. Savas for his years of service.
About Alta Equipment Group Inc.
Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, other construction equipment and allied products. Alta has operated as an equipment dealership for 39 years and has developed a branch network that includes over 80 total locations across Michigan, Illinois, Indiana, Ohio, Pennsylvania, Massachusetts, Maine, Connecticut, New Hampshire, Vermont, Rhode Island, New York, Virginia, Nevada and Florida and the Canadian provinces of Ontario and Quebec. Alta offers its customers a one-stop-shop for their equipment needs through its broad, industry-leading product portfolio. More information can be found at www.altg.com.
Contacts
Investors:
Kevin Inda SCR Partners, LLC
kevin@scr-ir.com (225) 772-0254
Media:
Glenn Moore
Alta Equipment
glenn.moore@altg.com
(248) 305-2134