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].

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].

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].

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]

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].

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]

AAM Delivers Solid Full Year 2024 Adjusted EBITDA GrowthDETROIT, Feb. 14, 2025 /PRNewswire/ -- American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL) today reported its financial results for the fourth quarter and full year 2024. Fourth Quarter 2024 Results Sales of $1.38 billion Net loss of $(13.7) million, or (1.0)% of sales Adjusted EBITDA of $160.8 million, or 11.6% of sales Loss per share of $(0.12); Adjusted loss per share of $(0.06) Net cash provided by operating activities of $151.2 million ...

Creates leading global driveline and metal forming supplier with comprehensive product portfolio and diversified customer baseCombination will have expanded and balanced geographic presence across multiple automotive segments supporting ICE, Hybrid and Electric powertrains; expected to generate annual revenues of approximately $12 billion on a non-adjusted combined basis Expected to deliver approximately $300 million annual run rate cost synergies and high earnings accretion in the first full year following ...

Edmonton, Alberta--(Newsfile Corp. - January 3, 2025) - AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) (formerly Matador Mining Ltd) ("AuMEGA" or "the Company") is pleased to announce that at the Company's Special Shareholder Meeting held on 4 December 2024, the shareholders adopted an amended and restated equity incentive plan (the "Plan") which has a 10% rolling stock option component and a fixed share unit (being Restricted Share Units, Performance Share Units, Deferred Share Units or Stock App ...

DETROIT, Nov. 27, 2024 /PRNewswire/ -- American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL) will participate in the UBS Global Industrials and Transportation Conference on December 4. AAM is scheduled to webcast the presentation at 1:00 p.m. ET. The live audio webcast will be accessible through the Investor Relations page on AAM's website (www.aam.com). A replay of the webcast will be available following the event.About AAMAs a leading global Tier 1 Automotive and Mobility Supplier, AAM designs, ...