v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
1 Months Ended 8 Months Ended 9 Months Ended
Dec. 05, 2018
Jul. 31, 2019
Jul. 31, 2018
Net income (loss) $ (22,575,000) $ (10,513,000) $ 26,993,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 2,060,000 14,125,000 12,956,000
Deferred income taxes (4,355,000) (2,983,000) (11,722,000)
Amortization of deferred financing costs 152,000 1,385,000 1,233,000
Write off deferred debt issuance costs 3,390,000
Prepayment penalty on early extinguishment of debt 13,004,000
Amortization of debt premium (11,000) 33,000
Amortization of intangible assets 653,000 22,235,000 5,720,000
Stock-based compensation expense 27,000 1,986,000 281,000
(Gain) on the sale of property, plant and equipment (166,000) 420,000 (2,264,000)
Net changes in operating assets and liabilities (net of acquisitions):      
Changes in fair value of contingent consideration 734,000
Trade receivables, net 485,000 (4,346,000) (5,751,000)
Inventory (294,000) (143,000) (845,000)
Prepaid expenses and other current assets (1,283,000) (4,209,000) (2,075,000)
Income taxes payable, net 203,000 (279,000) 863,000
Accounts payable (654,000) (7,666,000) (2,041,000)
Accrued payroll, accrued expenses and other current liabilities 17,280,000 (8,587,000) 6,739,000
Net cash provided by (used in) operating activities 7,916,000 1,425,000 30,854,000
Cash flows from investing activities:      
Purchases of property, plant and equipment (503,000) (29,700,000) (21,106,000)
Proceeds from sale of property, plant and equipment 364,000 1,546,000 1,910,000
Cash withdrawn from Industrea Trust Account 238,474,000
Net cash (used in) investing activities (139,000) (370,589,000) (40,196,000)
Cash flows from financing activities:      
Proceeds on long term debt 417,000,000 15,600,000
Payments on long term debt (20,056,000) (9,747,000)
Proceeds on revolving loan 4,693,000 161,123,000 129,951,000
Payments on revolving loan (128,932,000) (135,086,000)
Redemption of common shares (231,415,000)
Payment of debt issuance costs (23,708,000)
Payment of underwriting fees (8,050,000)
Payments on capital lease obligations (7,000) (56,000) (123,000)
Issuance of preferred shares 25,000,000
Proceeds on exercise of rollover incentive options 1,370,000
Net cash provided by (used in) financing activities (15,370,000) 376,872,000 10,342,000
Effect of foreign currency exchange rate on cash (70,000) (3,183,000) (516,000)
Net increase (decrease) in cash (7,663,000) 4,525,000 484,000
Beginning of period 8,621,000 4,000 6,925,000
End of period 4,000 4,529,000 7,409,000
Supplemental cash flow information:      
Cash paid for interest 201,000 20,696,000 12,745,000
Cash paid (refunded) for income taxes 1,860,000 120,000
Non-cash investing and financing activities:      
Fair value of rollover equity for Business Combination 164,909,000
Equipment purchases included in accrued expenses 4,044,000 152,000
Shares issued to acquire a business 1,150,000
Holdbacks related to the acquisition of a business 181,000
December 2018 Issuance [Member]      
Cash flows from financing activities:      
Issuance of common shares 96,900,000
May 2019 Issuance [Member]      
Cash flows from financing activities:      
Issuance of common shares 77,387,000
CPH Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired (449,434,000)
Atlas Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired (2,257,000)
Capital Pumping [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired (129,218,000)
O’Brien Acquisition [Member]      
Cash flows from investing activities:      
Acquisition of net assets, net of cash acquired $ (21,000,000)

Source