v3.20.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended
Dec. 05, 2018
Jan. 31, 2019
Jan. 31, 2020
Net income (loss) $ (22,575) $ (3,630) $ (2,746)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation   3,503 6,492
Deferred income taxes   (1,156) (645)
Amortization of deferred financing costs   496 1,044
Write off deferred debt issuance costs  
Amortization of debt premium  
Amortization of intangible assets 700 4,871 8,593
Stock-based compensation expense   1,467
Prepayment penalty on early extinguishment of debt  
Gains, net of losses, on the sale of property, plant and equipment   (305) (281)
Payment of contingent consideration in excess of amounts established in purchase accounting   (537)
Net changes in operating assets and liabilities (net of acquisitions):      
Trade receivables, net   4,648 5,207
Inventory   172 (549)
Prepaid expenses and other current assets   (2,585) (5,771)
Income taxes payable, net   (210) (558)
Accounts payable   (9,107) 393
Accrued payroll, accrued expenses and other current liabilities   (9,646) (10,295)
Net cash provided by (used in) operating activities   (12,949) 1,814
Cash flows from investing activities:      
Purchases of property, plant and equipment   (11,243) (17,410)
Proceeds from sale of property, plant and equipment   598 1,718
Cash withdrawn from Industrea Trust Account   238,474
Acquisition of net assets, net of cash acquired - CPH acquisition   (445,386)
Net cash (used in) investing activities   (217,557) (15,692)
Cash flows from financing activities:      
Proceeds on long term debt   357,000
Payments on long term debt   (5,222)
Proceeds on revolving loan   17,267 84,460
Payments on revolving loan   (69,748)
Payment of debt issuance costs   (20,863)
Redemption of common shares   (231,415)
Payments on capital lease obligations   (14) (22)
Issuance of common stock related to stock plans  
Purchase of treasury stock   (131)
Issuance of preferred shares   25,000
Payment of underwriting fees   (8,050)
Issuance of common shares   96,900
Payment of contingent consideration established in purchase accounting   (1,183)
Net cash provided by (used in) financing activities   235,825 8,154
Effect of foreign currency exchange rate on cash   (556) 887
Net increase (decrease) in cash   4,763 (4,837)
Cash:      
Beginning of period   4 7,473
End of period 4 4,767 2,636
Supplemental cash flow information:      
Cash paid for interest   849 11,191
Cash paid for income taxes   (83) (40)
Non-cash investing and financing activities:      
Fair value of rollover equity for Business Combination   164,908
Equipment purchases included in accrued expenses and accounts payable   1,415 $ 4,110
The Predecessor [Member]      
Net income (loss) (22,575)    
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 2,060    
Deferred income taxes (4,355)    
Amortization of deferred financing costs 152    
Write off deferred debt issuance costs 3,390    
Amortization of debt premium (11)    
Amortization of intangible assets 653    
Stock-based compensation expense 27    
Prepayment penalty on early extinguishment of debt 13,004    
Gains, net of losses, on the sale of property, plant and equipment (166)    
Payment of contingent consideration in excess of amounts established in purchase accounting    
Net changes in operating assets and liabilities (net of acquisitions):      
Trade receivables, net 485    
Inventory (294)    
Prepaid expenses and other current assets (1,283)    
Income taxes payable, net 203    
Accounts payable (654)    
Accrued payroll, accrued expenses and other current liabilities 17,280    
Net cash provided by (used in) operating activities 7,916    
Cash flows from investing activities:      
Purchases of property, plant and equipment (503)    
Proceeds from sale of property, plant and equipment 364    
Cash withdrawn from Industrea Trust Account    
Acquisition of net assets, net of cash acquired - CPH acquisition    
Net cash (used in) investing activities (139)    
Cash flows from financing activities:      
Proceeds on long term debt    
Payments on long term debt    
Proceeds on revolving loan 4,693    
Payments on revolving loan (20,056)    
Payment of debt issuance costs    
Redemption of common shares    
Payments on capital lease obligations (7)    
Issuance of common stock related to stock plans    
Purchase of treasury stock    
Issuance of preferred shares    
Payment of underwriting fees    
Issuance of common shares    
Payment of contingent consideration established in purchase accounting    
Net cash provided by (used in) financing activities (15,370)    
Effect of foreign currency exchange rate on cash (70)    
Net increase (decrease) in cash (7,663)    
Cash:      
Beginning of period 8,621 $ 958  
End of period 958    
Supplemental cash flow information:      
Cash paid for interest 201    
Cash paid for income taxes    
Non-cash investing and financing activities:      
Fair value of rollover equity for Business Combination    
Equipment purchases included in accrued expenses and accounts payable    

Source