It intends to use the net proceeds from the offering (including the net proceeds if the underwriters exercise their option to purchase additional shares of common stock) to repay in part outstanding borrowings under its first lien term facility. 

It has also announced select estimated preliminary unaudited financial results for its fourth quarter and fiscal year 2021, which ended March 31, 2021. 

Columbus McKinnon currently expects fourth quarter revenue will range between $184 million to $187 million, above previously announced guidance of $175 million to $180 million. Fiscal 2021 revenue is currently expected to range between $647 million to $651 million. 

Preliminary fourth quarter Adjusted EBITDA is currently expected to range between $25 million to $27 million. Preliminary fiscal 2021 Adjusted EBITDA is currently expected to range between $76 million to $78 million. 

CMCO estimates, based upon information currently available to it, that orders received during the three months ended March 31, 2021 will range between $208 million and $209 million. This compares with orders of $168.7 million in the trailing third quarter of fiscal 2021 and orders of $197.3 million in the fourth quarter of fiscal 2020. 

The company estimates, based upon information currently available, that backlog will range between $171 million and $172 million as of March 31, 2021, up 13% at the midpoint from backlog of $152.4 million in the trailing third quarter of fiscal 2021 and up 31% at the midpoint from backlog of $131.0 million at the end of fiscal 2020. 

The unaudited estimated financial results are preliminary and subject to revision based upon the completion of the company’s quarter-end financial closing processes and its fiscal year-end audit.  

As a result, the actual results for the three months and fiscal year ended March 31, 2021 may differ materially from the estimated preliminary unaudited financial results upon the completion of its financial closing procedures, as a result of the fiscal year-end audit, or upon occurrence of other developments that may arise prior to the time its financial results are finalized.