Announcement • Dec 02
ALJ Regional Holdings, Inc. (OTCPK:ALJJ) announces an Equity Buyback for 10,000,000 shares. ALJ Regional Holdings, Inc. (OTCPK:ALJJ) ) announces a share repurchase program. Under the program, then company will repurchase up to 10,000,000 shares of its common stock. The shares will be repurchased at a price per share not greater than $2 and not less than $1.84. Any shares purchased pursuant to the tender offer will be cancelled, and those shares will cease to be outstanding. The Company also reserves the right to purchase up to an additional 2% of its common shares outstanding. The Company expects to fund purchases of shares tendered in the tender offer with cash on hand. The tender offer will expire on December 29, 2022. Announcement • Oct 01
ALJ Regional Holdings, Inc. (OTCPK:ALJJ) acquired Ranews Companies from Lester and Susan Ranew for $20.8 million. ALJ Regional Holdings, Inc. (OTCPK:ALJJ) acquired Ranews Companies from Lester and Susan Ranew for $20.8 million on September 28, 2022. The consideration is subject to certain purchase price adjustments and certain earn-out payments. The Purchase Agreement includes two (2) earn-out payments in favor of Lester Ranew. Each earn-out payment is equal to the product of the increase in the adjusted EBITDA over EBITDA in the trailing twelve month period prior to the applicable earn-out payment date multiplied by 3.25. As a result of the transactions, ALJ Regional acquired 100% of the equity interests of Ranew's Truck & Equipment Company, LLC, Ranew's Outdoor Equipment, Inc., Ranew's Management Company, Inc., Ranew's Well Services Division, LLC, Ranew's Companies, LLC and Ranew's of Texas, Incorporated. At the closing, ALJ Regional issued Ranew 19.99% of the equity interests in ALJ Regional in consideration of the rollover of certain of Ranew's equity interests. ALJ and the ALJ Regional have entered into a stockholders' agreement with Ranew providing for certain customary rights, as well as a purchase/sale right commencing on the fifth (5th) anniversary of the closing date to cause ALJ to either, at ALJ's election, (i) purchase all of the common stock of ALJ Regional held by Lester Ranew or (ii) sell to Lester Ranew all of the common stock of ALJ Regional held by ALJ, in each case, at a value determined by Lester Ranew. Effective as of the closing date, ALJ has entered into employment agreements with each of (i) Robert Brock, as Chief Executive Officer, (ii) Clay Harmon, as Chief Financial Officer and (iii) Blake Reeves, as Director of Operations. The employment agreements include customary terms, including annual bonuses based upon increases in EBITDA.ALJ Regional Holdings, Inc. (OTCPK:ALJJ) completed the acquisition of Ranews Companies from Lester and Susan Ranew on September 28, 2022. Announcement • Aug 23
ALJ Regional Holdings, Inc. Announces Resignation of Brian Hartman as Chief Financial Officer, Effective on or After September 9, 2022 ALJ Regional Holdings, Inc. announced that on August 16, 2022, Brian Hartman notified the Board of Directors of the Company of his decision to resign as Chief Financial Officer of the Company, effective on or after September 9, 2022. Mr. Hartman’s decision to resign was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. 
