Concrete Pumping Holdings Announces Expiration of its Public Warrants
DENVER, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) (the “Company” or “CPH”), a leading provider of concrete pumping and waste management services in the U.S. and U.K., announced today that the Company’s 13,017,677 warrants to acquire shares of its common stock expired in accordance with their terms as of 5:00 p.m. EST, on December 6, 2023. As a result of the expiration, the warrants will no longer be recognized as a liability on the Company’s consolidated balance sheet and there are no other warrants outstanding.
The listing of the Company’s common stock, which is traded on Nasdaq under the ticker symbol “BBCP,” will not be affected by the expiration of the Company’s warrants.
“As the Company is celebrating its 40th year anniversary, over which time we have established our market-leading position and developed a strong platform for continued robust growth, we are pleased with the cleaner, simpler capital structure and balance sheet as the warrants have expired,” said CPH CEO Bruce Young.
About Concrete Pumping Holdings
Concrete Pumping Holdings is the leading provider of concrete pumping services and concrete waste management services in the fragmented U.S. and U.K. markets, primarily operating under what we believe are the only established, national brands in both geographies – Brundage-Bone for concrete pumping in the U.S., Camfaud in the U.K., and Eco-Pan for waste management services in both the U.S. and U.K. The Company’s large fleet of specialized pumping equipment and trained operators position it to deliver concrete placement solutions that facilitate labor cost savings to customers, shorten concrete placement times, enhance worksite safety and improve construction quality. Highly complementary to its core concrete pumping service, Eco-Pan seeks to provide a full-service, cost-effective, regulatory-compliant solution to manage environmental issues caused by concrete washout. As of July 31, 2023, the Company provided concrete pumping services in the U.S. from a footprint of approximately 100 branch locations across approximately 20 states, concrete pumping services in the U.K. from approximately 30 branch locations, and route-based concrete waste management services from 19 operating locations in the U.S. and 1 shared location in the U.K. For more information, please visit www.concretepumpingholdings.com or the Company’s brand websites at www.brundagebone.com, www.camfaud.co.uk, or www.eco-pan.com.
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “may,” “will,” “could,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, information related to the expiration of the Company’s warrants, and these forward-looking statements involve risks and uncertainties that could cause actual results to differ from those expected. Factors that may cause such differences include the risks and uncertainties included in the Company’s filings with the SEC, including the risk factors in the Company's latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company’s forward-looking statements speak only as of the date made, and the Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Chief Financial Officer
Gateway Group, Inc.
Released December 6, 2023