Mill Road Capital Amends Alta Equipment Stake

TL;DR

**Mill Road Capital just updated its stake in Alta Equipment, watch for potential stock movement!**

AI Summary

Mill Road Capital III, L.P. filed an amended Schedule 13D/A on January 23, 2024, updating its beneficial ownership in Alta Equipment Group Inc. This amendment, dated January 19, 2024, indicates a change in their holdings or intentions regarding Alta's common stock. Investors should note this filing as it signals a potential shift in strategy or ownership stake by a significant institutional investor, which could influence the stock's future performance.

Why It Matters

This filing indicates a change in a major investor's position, which can signal their confidence (or lack thereof) in the company's future, potentially influencing other investors.

Risk Assessment

Risk Level: medium — Changes in significant shareholder positions can introduce volatility and uncertainty for a company's stock.

Analyst Insight

Investors should monitor subsequent filings from Mill Road Capital III, L.P. to understand the specific nature of the change in their stake and consider how this might align with their own investment thesis for Alta Equipment Group Inc.

Key Players & Entities

• Mill Road Capital III, L.P. (company) — the filing person and reporting entity
• ALTA EQUIPMENT GROUP INC. (company) — the subject company whose securities are being reported
• Thomas E. Lynch (person) — contact person for Mill Road Capital III, L.P.
• Peter M. Rosenblum, Esq. (person) — legal counsel for Mill Road Capital III, L.P.
• January 19, 2024 (date) — date of the event requiring the filing

FAQ

Key Financial Figures

• $0.0001 — Inc. (Name of Issuer) Common stock, $0.0001 par value (Title of Class of Securiti
• $33,956,043.16 — of 2,733,865 shares of Common Stock for $33,956,043.16 using working capital from the Fund and

Filing Documents

• d645847dsc13da.htm (SC 13D/A) — 79KB
• 0001193125-24-013075.txt ( ) — 80KB

(b) of the Schedule 13D shall hereby be amended and restated in full as follows

Item 2(b) of the Schedule 13D shall hereby be amended and restated in full as follows: (b) The business address of Mr. Lynch, Mr. Jacobs, Mr. Petito and Mr. Yanagi, and the address of the principal business and the principal office of the Fund and the GP, is 334 Pemberwick Road, Second Floor, Greenwich, CT 06831. 2. Item 3 of the Schedule 13D shall hereby be amended and restated in full as follows: Item 3. Source and Amount of Funds or Other Consideration The Reporting Persons have acquired beneficial ownership of an aggregate of 2,733,865 shares of Common Stock for $33,956,043.16 using working capital from the Fund and the proceeds of margin loans under margin loan facilities maintained in the ordinary course of business by the Fund with a broker on customary terms and conditions. The purchase price of shares acquired pursuant to the assignment of Put Options (as defined in Item 6) is not reduced by the premium received by the Reporting Persons upon sale of the Put Options. 3. Paragraphs (a), (b) and (c) of Item 5 of the Schedule 13D shall hereby be amended and restated in full as follows: Item 5. Interest in Securities of the Issuer (a, b) The percentages of beneficial ownership reported in this Item 5, and on each Reporting Persons cover page to this Schedule 13D, are based on a total of 32,368,112 shares of Common Stock issued and outstanding as of November 6, 2023, as reported in the Issuers quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2023. All of the share numbers reported herein are as of January 23, 2024, unless otherwise indicated. Each Reporting Persons cover page to this Schedule 13D for is incorporated by reference into this Item 5(a, b). The Fund directly holds, and thus has sole voting and dispositive power over, 2,733,865 shares of Common Stock. The GP, as sole general partner of the Fund, also has sole authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, these shares on

of the Schedule 13D shall hereby be amended and restated in full as follows

Item 6 of the Schedule 13D shall hereby be amended and restated in full as follows: Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer The table below lists the standard American-style, exchange-traded put options ( Put Options ) sold by the Fund since December 22, 2023 (the date of the filing of Amendment No. 2 to the Schedule 13D) that are outstanding as of January 23, 2024. Each of the below listed transactions was conducted in the ordinary course of business on the open market for cash, and the sale prices do not reflect brokerage commissions paid. CUSIP No. 02128L106 Page 7 of 8 Pages Date of Sale of Put Options Sale Price per Underlying Share of Put Option ($) Underlying Shares (#) (100s) Strike Price per Share ($) Put Option Expiration Date 12/28/2023 $ 2.55 250 $ 15.00 02/16/2024 Each Put Option gives the holder the right (but not the obligation) to sell to the Fund and require the Fund to purchase, on or before the expiration date, the number of underlying shares of Common Stock, at a purchase price per share equal to the strike price. If a Put Option is assigned (exercised) on or before its expiration date, the Fund must purchase the shares of Common Stock underlying such Put Option in exchange for the aggregate exercise price. Except as otherwise described in this Schedule 13D, including the Exhibits attached hereto, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Persons, or between the Reporting Persons and any third party, with respect to any securities of the Issuer, including, but not limited to, those involving the transfer or voting of securities, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies. 5. Except as expressly modified hereby, all provisions of the Schedule 13D s

View Full Filing

View this SC 13D/A filing on SEC EDGAR