Southland Holdings, Inc.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $37.0M
- Price
- $0.68
- % Change (Daily % change from the live per-ticker quote feed.)
- +5.62%
- Volume
- 115.7K
About
Southland Holdings, Inc. engages in specialty infrastructure construction business in North America. The company operates through Civil and Transportation segments. The Civil segment designs and constructs water pipelines, pump stations, lift stations, water and wastewater treatment plants, concrete and structural steel, outfall, and tunneling. The Transportation segment designs and constructs bridges, roadways, marine, dredging, ship terminals and piers, and specialty structures and facilities, as well as convention centers, sports stadiums, marine facilities, and ferris wheels. The company was founded in 1900 and is headquartered in Grapevine, Texas.
Quick stats
Shares outstanding54.4M
Computed float21.2M
Float / shares38.9%
Key info
SectorIndustrials
IndustryEngineering & Construction
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001883814
AI Summary
AI-generated1/17
majorneutraldebt offering
Southland Executes Financing Agreement & Credit Amendment with Surety Partners
Southland Holdings entered into a financial assistance agreement with surety partners, converting $150.86 million of non-bonding financing into senior non-voting preferred shares.
The company also amended its credit agreement, reducing the interest rate to 4.00% and suspending quarterly amortization payments and financial maintenance covenants.
The restructuring covers $58.97 million in bonding surety financing and provides flexibility to execute on the company's backlog.
Red flags
- Significant dilution via conversion of $150.86M debt to preferred shares
- Interest is capitalized (PIK), increasing principal balance over time
- Financial maintenance covenants suspended, suggesting previous distress
- Preferred shares rank senior to all other equity classes