|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's Range||9.23 - 9.54|
|52 Week Range||1.81 - 9.63|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 08, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.25|
Nesco Holdings, Inc. (NYSE: NSCO) ("Nesco"), which has been renamed as Custom Truck One Source, Inc. (the "Company") effective today, in partnership with an affiliate of Platinum Equity, LLC ("Platinum"), today announced the closing of the previously announced transaction to acquire Custom Truck One Source, L.P. ("CTOS") for a purchase price of $1.475 billion. Nesco and CTOS are leading providers of specialized truck and heavy equipment solutions, including rental, sales and aftermarket parts and service.
Nesco Holdings, Inc. (NYSE: NSCO) ("Nesco" or the "Company") announced today that, in anticipation of the previously announced proposed acquisition by Nesco's wholly owned subsidiary, Nesco Holdings II, Inc., of 100% of the limited partnership interests of Custom Truck One Source, L.P. (the "Target") and 100% of the limited liability company interests of the Target's general partner (the "Acquisition"), Nesco will change its name to Custom Truck One Source, Inc. Nesco will also change the NYSE ticker symbol of its common stock from "NSCO" to "CTOS" and the ticker symbol of its redeemable warrants from "NSCO.WS" to "CTOS.WS" immediately upon the closing of the Acquisition.
Nesco Holdings, Inc. (NYSE: NSCO, "Nesco") announced today that, in anticipation of the previously announced proposed business combination (the "proposed business combination") of its wholly owned subsidiary Nesco Holdings II, Inc. (the "Issuer") with Custom Truck One Source, L.P. ("Custom Truck"), the Issuer has priced an offering of $920 million aggregate principal amount of 5.500% senior secured second lien notes due 2029 (the "Notes"). The sale of the Notes is expected to be consummated on or about April 1, 2021, subject to customary closing conditions. The net proceeds from the offering of the Notes, together with borrowings under a new asset-based revolving credit facility to be entered into by the Issuer, as well as other sources, will be used to fund the proposed business combination-related transactions, to refinance Nesco's existing indebtedness and to pay related fees and expenses.