Daktronics Says Activist Investor Alta Fox Capital's Proposals Benefit Only Alta Fox

MT Newswires Live

2024/12/12

Daktronics (DAKT) said Wednesday activist investor Alta Fox Capital Management's proposals announced Tuesday amounted to only ideas to benefit Alta Fox, not the majority of shareholders.

Daktronics issued $25 million of convertible debt to Alta Fox in May 2023 as part of a broader effort to refinance its existing liabilities. At the time, its common shares were trading around $5 per share.

Daktronics' shares were down 2.6% at $18.75 in recent Wednesday trading.

Price: 18.76, Change: -0.48, Percent Change: -2.49

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