AA Mission Acquisition Corp.(AAM)

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AAM Recognizes Top Suppliers with Awards
Prnewswire· 2025-06-18 17:30
Core Points - American Axle & Manufacturing Holdings, Inc. (AAM) recognized top suppliers during its annual Supplier Day event, awarding Supplier of the Year and Supplier Excellence Awards based on delivery, quality, launch performance, innovation, and sustainability [1][2][8] Supplier Awards - Baoding Dongli Machinery Co., Ltd. received the Supplier of the Year Award for Direct Material, recognized for providing 88 iron-casting, steel-forging, and aluminum parts to AAM's facilities in Europe and China, and establishing local warehouses [3] - Steel Dynamics Inc. – Engineered Bar Products Division was awarded the Supplier of the Year Award for Direct Material for supplying nearly 75,000 tons of steel with outstanding quality performance [4] - Okuma America Corporation was honored with the Supplier of the Year Award for Indirect Material for consistently delivering high-quality CNC machine tools that enhance AAM's manufacturing capabilities [5] Supplier Excellence Awards - A total of 13 suppliers received Supplier Excellence Awards for their performance in various categories, including delivery, quality, launch performance, innovation, and sustainability [6][8] - The suppliers recognized for their excellence include Mecanica Garcia Industrial, Warren Industries, Webco Industries, Inc., Bocar, Guangdong Hongteo Technology Co., Ltd., Tubos De Acero De Mexico S.A. (Tenaris), Johnson Electric Otomotiv Ürünleri Limited Şirketi, Wayne Manufacturing, Zouping Tiansheng Metal Technology Co., Ltd., Ansys, Apera AI, Neural Concept, and CEVA Logistics [7][8] Company Overview - AAM is a leading global Tier 1 automotive supplier specializing in driveline and metal forming technologies, supporting electric, hybrid, and internal combustion vehicles, with over 75 facilities in 16 countries [9]
AAM Secures New Business to Support Scout Motors' Iconic SUV and Truck Launch
Prnewswire· 2025-06-11 12:00
Group 1 - American Axle & Manufacturing Holdings, Inc. (AAM) has secured an agreement with Scout Motors to supply front electric drive units (EDUs) and rear e-Beam axles for the upcoming electric Traveler SUV and Terra pickup truck [1] - Both the Scout Traveler SUV and Scout Terra pickup truck will feature a body-on-frame chassis and can be configured with either 100 percent battery electric or gasoline fueled range-extended energy systems [2] - AAM's CEO, David C. Dauch, expressed pride in supporting the Scout brand's revival and emphasized the shared commitment to American design and innovation between AAM and Scout Motors [3] Group 2 - Scout Motors is currently accepting customer order reservations, with initial production of the Traveler and Terra vehicles expected to begin in 2027 [3] - AAM is a leading global Tier 1 automotive and mobility supplier, focusing on driveline and metal forming technologies for electric, hybrid, and internal combustion vehicles [4] - Scout Motors aims to revitalize the iconic Scout brand, which was originally produced from 1961 to 1980, and is dedicated to creating a new era of trucks and rugged SUVs [5]
AAM to Present at the Deutsche Bank 2025 Global Auto Industry Conference on June 11
Prnewswire· 2025-06-06 12:00
Group 1 - American Axle & Manufacturing Holdings, Inc. (AAM) will participate in the Deutsche Bank 2025 Global Auto Industry Conference on June 11, 2025 [1] - AAM's fireside chat presentation is scheduled to be webcast at 1:25 p.m. ET, with a replay available after the event [1] - AAM is a leading global Tier 1 Automotive and Mobility Supplier, focusing on Driveline and Metal Forming technologies for electric, hybrid, and internal combustion vehicles [2] Group 2 - AAM is headquartered in Detroit, MI, and operates over 75 facilities across 16 countries [2] - The company aims to accelerate the future of automotive technology for a safer and more sustainable tomorrow [2]
Northern Graphite Comments on US Department of Commerce Preliminary Decision to Place Tariffs of up to 721% on China Graphite AAM
Newsfile· 2025-05-21 12:15
Core Viewpoint - The U.S. Department of Commerce has made a preliminary decision to impose tariffs of up to 721% on natural and artificial graphite active anode material (AAM) from China, which is a significant development for North American producers, particularly Northern Graphite Corporation [1][2]. Industry Summary - The decision is part of an investigation to determine if the Chinese government is subsidizing graphite AAM production, with a final determination expected around December 5, 2025 [2][4]. - Approximately 90% of AAM upgrading is currently performed in China, prompting other regions to implement tariffs and strategic acts to establish independent supply chains [3]. Company Summary - Northern Graphite is the only current producer of natural graphite in North America and plans to build a battery materials facility in Canada to meet the increasing demand for local and sustainable anode material supply [2][6]. - The company operates the Lac des Iles mine in Quebec and has plans to increase production to cater to the growing demand from industrial customers and North American battery manufacturers [7]. - Northern Graphite also owns several projects, including the Bissett Creek project in Ontario and the Okanjande graphite mine in Namibia, all of which have "battery quality" graphite and are located in politically stable regions [8].
AA Mission Acquisition Corp.(AAM) - 2025 Q1 - Quarterly Report
2025-05-12 20:15
IPO and Proceeds - The company completed its IPO on August 2, 2024, generating gross proceeds of $300,000,000 from the sale of Units at $10.00 per Unit[89]. - The underwriters exercised the over-allotment option on September 4, 2024, resulting in additional gross proceeds of $45,000,000[90]. - An amount of $346,725,000 from the IPO proceeds was placed in a trust account, intended for the initial business combination[92]. - The company incurred transaction costs of $14,634,758 related to the IPO, including $5,175,000 in cash underwriting fees[91]. - The Sponsors received 8,625,000 founder shares for $25,000, with the potential for forfeiture based on the underwriters' over-allotment[95]. Financial Performance - Following the IPO, the company generated a net income of $3,386,331 for the three months ended March 31, 2025, primarily from interest income[88]. - The company incurred administrative fees of $30,000 during the three months ended March 31, 2025, with $10,000 recorded as unpaid[100]. Cash and Funding Needs - As of March 31, 2025, the company had cash of $57,904, which will be used for identifying and evaluating target businesses[93]. - The company may require additional funding to support operations prior to the initial business combination due to existing working capital deficits[94]. Business Operations - The company has not engaged in any operations or generated revenues to date, focusing instead on completing its initial business combination[87].
AAM Reports First Quarter 2025 Financial Results
Prnewswire· 2025-05-02 12:00
Core Viewpoint - American Axle & Manufacturing Holdings, Inc. (AAM) reported a decline in sales and net income for the first quarter of 2025, but achieved positive year-over-year operating cash flow due to cost control and productivity improvements [2][3][4]. Financial Performance - AAM's sales for Q1 2025 were $1.41 billion, down from $1.61 billion in Q1 2024, primarily due to lower volumes [2][6]. - The net income for Q1 2025 was $7.1 million, or $0.06 per share, compared to $20.5 million, or $0.17 per share, in Q1 2024 [3][6]. - Adjusted EBITDA for Q1 2025 was $177.3 million, representing 12.6% of sales, down from $205.6 million, or 12.8% of sales, in Q1 2024 [4][6]. Cash Flow and Capital Expenditures - Net cash provided by operating activities for Q1 2025 was $55.9 million, significantly higher than $17.8 million in Q1 2024 [4][30]. - Adjusted free cash flow for Q1 2025 was $(3.9) million, an improvement from $(21.4) million in Q1 2024 [4][35]. Updated Financial Outlook - AAM revised its full-year 2025 sales target to a range of $5.65 billion to $5.95 billion, down from the previous range of $5.8 billion to $6.05 billion [7]. - The company is targeting Adjusted EBITDA between $665 million and $745 million, reduced from the prior range of $700 million to $760 million [7]. - Adjusted free cash flow is now expected to be between $165 million and $215 million, down from the previous target of $200 million to $230 million [7]. Segment Performance - In Q1 2025, the Driveline segment generated sales of $957.8 million, down from $1,106.4 million in Q1 2024, while the Metal Forming segment saw sales decrease to $575.8 million from $644.1 million [36]. - Total segment Adjusted EBITDA for Q1 2025 was $177.3 million, compared to $205.6 million in Q1 2024 [36]. Company Overview - AAM is a leading global Tier 1 automotive and mobility supplier, focusing on driveline and metal forming technologies for electric, hybrid, and internal combustion vehicles [15]. - The company is headquartered in Detroit and operates over 75 facilities across 16 countries [15].
AA Mission Acquisition Corp.(AAM) - 2024 Q4 - Annual Report
2025-03-11 20:15
IPO and Fundraising - The company generated gross proceeds of $300,000,000 from its IPO at a price of $10.00 per Unit[118]. - An additional $45,000,000 was raised from the full exercise of the underwriters' over-allotment option, selling 4,500,000 Units at $10.00 per Unit[119]. - The company placed $346,725,000 in a trust account from the net proceeds of the IPO and private placement, intended for the initial business combination[121]. - Total transaction costs amounted to $14,634,758, including $5,175,000 in cash underwriting fees and $8,625,000 in deferred underwriting fees[120]. Financial Performance - The company reported a net income of $5,855,202 for the period from February 9, 2024, to December 31, 2024, after offsetting an operating loss of $769,833 with interest income of $6,625,035[115]. - As of December 31, 2024, the company had cash of $417,897 and a working capital of $21,271[116]. - The company has incurred $539,874 in costs paid by the Sponsor on its behalf, with $514,874 due to the related party as of December 31, 2024[131]. Business Operations and Risks - The company has not engaged in any operations or generated revenues to date, with plans to generate non-operating income post-IPO[114]. - There is substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within the specified period[116]. - The company expects to incur approximately $300,000 for legal and accounting expenses related to business combinations and $150,000 for regulatory reporting fees[123]. - The company is classified as a smaller reporting company under Rule 12b-2 of the Exchange Act, thus not required to provide detailed market risk disclosures[144].
AAM to Present at the Wolfe Research Virtual Autos Summit on March 18
Prnewswire· 2025-03-11 12:00
Company Overview - American Axle & Manufacturing Holdings, Inc. (AAM) is a leading global Tier 1 Automotive and Mobility Supplier, specializing in Driveline and Metal Forming technologies for electric, hybrid, and internal combustion vehicles [2] - The company is headquartered in Detroit, MI, and operates over 75 facilities across 16 countries, focusing on creating a safer and more sustainable future [2] Upcoming Event - AAM will participate in the Wolfe Research Virtual Autos Summit on March 18, 2025, with a scheduled fireside chat at 11:40 a.m. ET [1] - The event will be accessible via a live webcast on AAM's Investor Relations page, with a replay available after the event [1]
AAM Announces Successful Syndication Financing and Amendment to Credit Agreement
Prnewswire· 2025-02-24 14:00
Core Viewpoint - American Axle & Manufacturing Holdings, Inc. (AAM) has successfully syndicated bridge financing to support its combination with Dowlais Group plc, enhancing its capital structure and liquidity [1][3]. Financing Details - The bridge financing includes a $843 million Term Loan B, a $843 million 1st Lien Senior Secured Bridge Facility, and a $500 million 2nd Lien Senior Secured Bridge Facility [2]. - AAM has amended its Credit Agreement to extend the maturity date of its Revolving Credit Facility (RCF) and Term Loan A to a new five-year term, increasing RCF commitments to approximately $1.5 billion, an increase of $570 million from the current agreement [2]. Business Outlook - AAM has high revenue visibility with over $20 billion in lifetime revenues secured through 2030 and beyond [6]. - The company is well-positioned for a resurgence in internal combustion engine (ICE) and hybrid vehicle volumes in North America [6]. - The combination is expected to create $300 million in run-rate cost synergies and generate free cash flow [6]. Company Profile - AAM is a leading global Tier 1 Automotive and Mobility Supplier, specializing in driveline and metal forming technologies for electric, hybrid, and internal combustion vehicles [4]. - The company operates over 75 facilities in 16 countries, focusing on sustainable and safer automotive solutions [4].
AAM Low Duration Preferred & Income Securities ETF Eclipses $500 Million AUM Milestone
Prnewswire· 2025-02-19 14:08
Core Insights - Advisors Asset Management (AAM) announced that its AAM Low Duration Preferred & Income Securities ETF (PFLD) has surpassed $500 million in assets under management (AUM) [1][3][4] Company Overview - AAM is a leading investment solutions provider with 45 years of experience, offering a range of investment products including alternatives, ETFs, fixed income markets, managed accounts, mutual funds, structured products, and unit investment trusts [5] - AAM is part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life [5] Product Details - PFLD is the only low duration preferred ETF in the industry, targeting preferred securities that historically provide higher yields than similarly rated bonds, thus diversifying income streams [2][3] - The ETF aims to generate attractive monthly income, increase portfolio diversification, and reduce the impact of interest rate changes by tracking the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index (PHLD) [3] Market Positioning - The achievement of surpassing $500 million in AUM reflects the demand for intelligent investment approaches in the preferred stock market, particularly amid concerns related to interest rates and inflation [3][4] - PFLD offers a combination of high tax-efficient income and minimal interest rate risk, making it a valuable tool for income-focused investors in uncertain rate environments [3] Sales and Investments - For the year ending December 31, 2024, AAM facilitated over $32 billion in combined sales and investments through 15,300 financial professionals, with approximately $7 billion in ETF, Managed Account, Mutual Fund, and Unit Investment Trust assets, and $25 billion in Fixed Income securities [6]