Treasury
Vulcan Reports Closing of $39.4 Million Strategic Investment
Vulcan Infrastructure and Power (VIP) reported late Thursday the closing of some $39.4 million investment from affiliates of Machine Investment Group, Atlas Holdings, institutional investors including Conversant Capital and certain company insiders.Vulcan said it issued almost 17.2 million Class A shares at $1.71 each to the investors, and another $10 million of senior secured convertible promissory note to an affiliate of Machine.The company said it plans to use the net proceeds to redeem its remaining $33.1 million of 8.50% senior notes due October 2026, and for general corporate purposes.
$VIP
