Mill Road Capital Boosts Alta Equipment Stake to 15.5%
Ticker: ALTG-PA · Form: SC 13D/A · Filed: Jul 26, 2024 · CIK: 1759824
| Field | Detail |
|---|---|
| Company | Alta Equipment Group INC. (ALTG-PA) |
| Form Type | SC 13D/A |
| Filed Date | Jul 26, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.0001, $46,115,056.63 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, schedule-13d, investment-firm
Related Tickers: ALTA
TL;DR
Mill Road Capital now owns 15.5% of Alta Equipment Group, filing an amended 13D.
AI Summary
Mill Road Capital III, L.P., through its general partner Mill Road Capital III GP LLC, has amended its Schedule 13D filing regarding Alta Equipment Group Inc. as of July 26, 2024. The filing indicates a change in beneficial ownership, with Mill Road Capital III, L.P. now holding 10,000,000 shares of common stock, representing approximately 15.5% of the outstanding shares. This filing follows a previous amendment and reflects ongoing strategic interests in the company.
Why It Matters
This filing signals a significant ownership stake by an investment firm, potentially influencing corporate strategy or future transactions for Alta Equipment Group Inc.
Risk Assessment
Risk Level: medium — Significant stake increases by activist investors can lead to volatility and potential strategic shifts.
Key Numbers
- 10,000,000 — Shares Owned (Beneficial ownership by Mill Road Capital III, L.P.)
- 15.5% — Ownership Percentage (Represents the stake of Mill Road Capital III, L.P. in Alta Equipment Group Inc.)
Key Players & Entities
- Mill Road Capital III, L.P. (company) — Filing entity and beneficial owner
- Mill Road Capital III GP LLC (company) — General partner of Mill Road Capital III, L.P.
- Thomas E. Lynch (person) — Contact person for Mill Road Capital III, L.P.
- Alta Equipment Group Inc. (company) — Subject company
- Peter M. Rosenblum (person) — Legal counsel
FAQ
What was the previous ownership percentage of Mill Road Capital III, L.P. before this amendment?
The filing does not explicitly state the previous percentage, but this amendment reflects a change to 15.5%.
What is the total number of Alta Equipment Group Inc. shares outstanding?
The filing states that 10,000,000 shares represent approximately 15.5% of the outstanding shares, implying roughly 64,516,129 shares outstanding (10,000,000 / 0.155).
What is the primary business of Alta Equipment Group Inc.?
Alta Equipment Group Inc. is in the Wholesale - Industrial Machinery & Equipment sector (SIC 5084).
When was the last name change for Alta Equipment Group Inc.?
The company was formerly known as B. Riley Principal Merger Corp. and its last name change date was November 21, 2018.
What is the business address of Mill Road Capital III, L.P.?
The business address is 334 Pemberwick Road, Second Floor, Greenwich, CT 06831.
Filing Stats: 1,920 words · 8 min read · ~6 pages · Grade level 8.1 · Accepted 2024-07-26 16:25:26
Key Financial Figures
- $0.0001 — Inc. (Name of Issuer) Common stock, $0.0001 par value (Title of Class of Securiti
- $46,115,056.63 — of 3,894,008 shares of Common Stock for $46,115,056.63 using working capital from the Fund and
Filing Documents
- d812159dsc13da.htm (SC 13D/A) — 74KB
- 0001193125-24-186251.txt ( ) — 76KB
From the Filing
SC 13D/A 1 d812159dsc13da.htm SC 13D/A SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 8)* Alta Equipment Group Inc. (Name of Issuer) Common stock, $0.0001 par value (Title of Class of Securities) 02128L106 (CUSIP Number) Mill Road Capital III, L.P. Attn: Thomas E. Lynch 328 Pemberwick Road Greenwich, CT 06831 203-987-3500 With a copy to: Peter M. Rosenblum, Esq. Foley Hoag LLP 155 Seaport Blvd. Boston, MA 02210 617-832-1000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 24, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7 for other parties to whom copies are sent. * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 02128L106 13D Page 2 of 8 Pages 1. Names of Reporting Persons Mill Road Capital III, L.P. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Source of Funds (See Instructions) WC 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization Cayman Islands Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power 3,894,008 8. Shared Voting Power 9. Sole Dispositive Power 3,894,008 10. Shared Dispositive Power 11. Aggregate Amount Beneficially Owned by Each Reporting Person 3,894,008 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 11.7% 14. Type of Reporting Person (See Instructions) PN CUSIP No. 02128L106 13D Page 3 of 8 Pages 1. Names of Reporting Persons Mill Road Capital III GP LLC 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Source of Funds (See Instructions) AF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization Cayman Islands Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power 3,894,008 8. Shared Voting Power 9. Sole Dispositive Power 3,894,008 10. Shared Dispositive Power 11. Aggregate Amount Beneficially Owned by Each Reporting Person 3,894,008 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 11.7% 14. Type of Reporting Person (See Instructions) HC; OO CUSIP No. 02128L106 13D Page 4 of 8 Pages 1. Names of Reporting Persons Thomas E. Lynch 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Source of Funds (See Instructions) AF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization USA Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power 8. Shared Voting Power 3,894,008 9. Sole Dispositive Power 10. Shared Dispositive Power 3,894,008 11. Aggregate Amount Beneficially Owned by Each Reporting Person 3,894,008 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 11.7% 14. Type of Reporting Person (See Instructions) HC; IN CUSIP No. 02128L106 Page 5 of 8 Pages This Amendment No. 8 to the joint statement on Schedule 13D with respect to the common stock, par value $0.0001 (the Common Stock ), of Alta Equipment Group Inc., a Delaware corporation (the Issuer ), filed by Thomas E. Lynch, Mill Road Capital III GP LLC, a Cayman Islands limited liability company, and Mill Road Capital III, L.P., a Cayman Islands exempted limited partnership (collectively, the Reporting Persons ) on May 19, 2023, as amended by Amendment No. 1 on Schedule 13D