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SC 13G/A - Horizon Global Corp (0001637655) (Subject)
SC 13G/A - Horizon Global Corp (0001637655) (Subject)
SC 13G/A - Horizon Global Corp (0001637655) (Subject)
Third Quarter Summary Strategic alternatives process ongoing with objective to maximize shareholder value Focus on margin improvement through commercial actions, key business initiatives and cost structure optimization Net sales of $149.0 million $47.5 million decrease from third quarter of 2021 Gross profit of $16.7 million $22.1 million decrease from third quarter of 2021 Gross profit margin(4) decreased to 11.2% from 19.7% in third quarter of 2021 Net loss of $25.7 million $22.9 million deterioration from third quarter of 2021 Adjusted EBITDA(1) of $(5.9) million $18.9 million decrease from third quarter of 2021 Horizon Global Corporation (NYSE:HZN), one o
Horizon Global (NYSE:HZN) announced today that it will host a conference call regarding the Company's third quarter 2022 results on Wednesday, November 9, 2022, at 8:30 a.m. Eastern Time. The conference call will be hosted by Horizon Global's President and Chief Executive Officer Terry Gohl, and James Zhou, Chief Financial Officer. Participants on the call are asked to register five to ten minutes prior to the scheduled start time by dialing (844) 825-9786 and from outside the U.S. at (412) 902-4185. Please ask to join the Horizon Global call. The third quarter 2022 results and supplemental materials, including a presentation in PDF format, will be distributed before the market opens on No
Second Quarter Summary Net sales of $181.2 million $40.9 million decrease from second quarter of 2021 Gross profit of $20.7 million $26.6 million decrease from second quarter of 2021 Gross profit margin(4) decreased to 11.4% from 21.3% in second quarter of 2021 Net loss of $22.4 million $23.4 million deterioration from second quarter of 2021 Adjusted EBITDA(1) of $(3.9) million $21.9 million decrease from second quarter of 2021 Issued $41.0 million of Series B Preferred Stock in exchange for $40.0 million of Convertible Senior Notes ("Convertible Notes"), which were cancelled effective June 27, 2022 Remaining $85.0 million of Convertible Notes repaid on July 1,
Horizon Global Corporation (NYSE:HZN) (the "Company"), announced today that the Company's Board of Directors (the "Board") appointed John C. Kennedy as Interim President and Chief Executive Officer. Kennedy will continue to serve as Chair of the Board. This appointment follows the Board's acceptance of Terrence G. Gohl's resignation from his executive positions and as a director. "We remain focused on our strategic alternatives process, with our clear objective being to enhance shareholder value," stated Kennedy. "We look forward to providing an update on this process when appropriate. Further, as we assess the best long-term path for the Company, we are determined to leverage our best-in-
Horizon Global Corporation (NYSE:HZN), one of the world's leading manufacturers of branded towing and trailering equipment, announced today that the Company's Board of Directors appointed Jian James Zhou as Chief Financial Officer, effective immediately. Mr. Zhou most recently served as executive vice president and chief financial officer for Joyson Safety Systems, a leading global supplier of mobility safety components and systems. Prior to joining Joyson, Mr. Zhou served as vice president and chief financial officer for Tesla China and supported Tesla's successful entry into China's electric vehicle market. Mr. Zhou previously served in divisional chief financial officer roles for Ingers
Horizon Global Corporation (NYSE:HZN), the world's leading manufacturer of branded towing and trailering equipment, announced today that the Company's Board of Directors appointed Donna M. Costello as a Director, effective June 16, 2021. Ms. Costello was appointed to the Board's Audit Committee. Ms. Costello has extensive experience as both a public company executive and board member, with deep financial expertise and a proven track record as a strategic business leader across multiple industries. Ms. Costello previously served as Chief Financial Officer of C&D Technologies ("C&D"), a manufacturer and marketer of systems for power conversion and storage of electrical power, from 2016 to 20
First Brands Group, LLC ("First Brands") and Horizon Global Corporation ("Horizon Global") today announced that following the successful completion of First Brands' tender offer to purchase (a) any and all issued and outstanding shares of common stock of Horizon Global (NYSE:HZN) at a price of $1.75 per share (the "Common Stock Offer Price"), and (b) any and all issued and outstanding shares of Series B preferred stock of Horizon Global at a price equal to the Redemption Price (pursuant to the Certificate of Designations, Preferences and Rights of Series B Preferred Stock of Horizon Global Corporation) per share of Series B preferred stock calculated as of the closing date of the acquisitio
First Brands Group, LLC ("First Brands") and Horizon Global Corporation ("Horizon Global") today announced that First Brands' tender offer to purchase (a) any and all issued and outstanding shares of common stock of Horizon Global (NYSE:HZN) at a price of $1.75 per share (the "Common Stock Offer Price"), and (b) any and all issued and outstanding shares of Series B preferred stock of Horizon Global at a price equal to the Redemption Price (pursuant to the Certificate of Designations, Preferences and Rights of Series B Preferred Stock of Horizon Global Corporation) per share of Series B preferred stock calculated as of the closing date of the acquisition of Horizon Global (the "Preferred Sto
Horizon Global Corporation (NYSE:HZN) ("Horizon Global"), one of the world's leading manufacturers of branded towing and trailering equipment, today announced it has entered into a definitive merger agreement with First Brands Group, LLC ("First Brands"), a global automotive parts manufacturer that serves the worldwide automotive aftermarket, pursuant to which First Brands will acquire Horizon Global (the "Transaction"). The terms of the Transaction include an all-cash tender offer, which upon successful closing will entitle each stockholder of Horizon Global's common stock to receive cash consideration of $1.75 per share. Highlights of the Transaction: The Transaction will result in a c
Horizon Global's (NYSE:HZN) short percent of float has fallen 3.03% since its last report. The company recently reported that it has 60 thousand shares sold short, which is 0.32% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.2 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interes
Gainers Horizon Global Corporation (NYSE:HZN) shares surged 341% to $1.7161 after the company announced it will be acquired by First Brands Group. Jasper Therapeutics, Inc. (NASDAQ:JSPR) gained 257% to $1.70 after the company announced clinical data from a Phase I/II trial of briquilimab as a conditioning treatment in sickle cell disease and beta thalassemia. ReShape Lifesciences Inc. (NASDAQ:RSLS) shares jumped 142.3% to $16.34. Reshape Lifesciences recently announced a 1-for-50 reverse stock split. Lucira Health, Inc. (NASDAQ:LHDX) surged 68% to $0.1875 after the company announced it submitted an Emergency Use Authorization application to the FDA for OTC use of its COVID-19 & Flu tes
Gainers Horizon Global (NYSE:HZN) stock moved upwards by 339.8% to $1.71 during Tuesday's regular session. Trading volume for this security as of 12:30 EST is 3.6 million, which is 6461.0% of its average full-day volume over the last 100 days. The company's market cap stands at $47.4 million. EpicQuest Education Group (NASDAQ:EEIQ) stock rose 32.12% to $2.92. As of 12:30 EST, EpicQuest Education Group's stock is trading at a volume of 80.2K, which is 181.2% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $33.6 million. Boxed (NYSE:BOXD) shares rose 29.14% to $0.25. The current volume of 1.7 million shares is 216.1% of Boxed's avera