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ALJ Regional Holdings, Inc Announces Earnings For The Third Quarter Ended June 30, 2021
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ALJ Regional Holdings, Inc Announces Earnings For The Third Quarter Ended June 30, 2021
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NEW YORK, June 29, 2021 /PRNewswire/ ALJ Regional Holdings, Inc. (NASDAQ: ALJJ) ( ALJ or Company ) announced today that it has completed the replacement of its existing term loan and amended its existing revolving credit facility. Key features of the transactions include:
Significant Reduction of Quarterly Term Loan Principal Payments. ALJ s new term loan and amended revolving credit facility (referred to collectively as New Debt ) reduces term loan amortization principal payments by approximately $4.4 million, or 54%, which significantly improves liquidity and operating flexibility.
Reduction in Convertible Debt Dilution and Lower Interest Rate for Revolving Credit Facility. ALJ s new term loan allows interest to be paid in cash on the existing outstanding convertible debt, rather than paying interest in kind which resulted in additional dilution to shareholders. In addition, the average interest rate on the amended revolving credit
ALJ ) announced results today for its second quarter ended March 31, 2021.
ALJ is a holding company, whose wholly owned subsidiaries during the second quarter included Faneuil, Inc. (
Faneuil ), Floors-N-More, LLC, d/b/a Carpets N More (
Carpets ), and Phoenix Color Corp. (
Phoenix ). Faneuil is a leading provider of call center services, back office operations, staffing services, and toll collection services to governmental and commercial clients across the United States. Carpets is one of the largest floor covering retailers in Las Vegas, Nevada, and a provider of multiple products for the commercial, retail, and home builder markets including all types of flooring, countertops, and cabinets. Phoenix is a leading manufacturer of book components, educational materials, and related products producing value-added components, heavily illustrated books, and specialty commercial products using a broad spectrum of materials and decorative technologies.
Among those approved is Compass Made Inc. in Deming.
This tranche of companies approved at the April JTIP board meeting included three that have never applied for JTIP funding before, DeeDee’s Finest Beef Jerky in Española and Pronto Signs and Solstar Space Company in Santa Fe. Additionally, of the 15 awarded companies, six of them have received JTIP funding only once before.
“JTIP is a proven tool to help businesses create jobs and keep them in New Mexico,” Keyes said. “This month’s recipients are a great example of how we are working to support companies of all sizes and in every corner of the state.”
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