GFL Environmental Inc. Subordinate Voting Shares - GFL STOCK NEWS

GFL Environmental Inc. (NYSE: GFL) has issued a response to a report by Spruce Point Capital Management, which it claims contains numerous inaccuracies regarding its management and financial practices. GFL asserts that Spruce Point's report aims to manipulate the stock price for profit. GFL's lead independent director, Dino Chiesa, expressed disappointment over the baseless allegations and reaffirmed confidence in the company's strategy and ethical standards. GFL, a major player in environmental services across North America, serves over 135,000 customers, showcasing its commitment to long-term shareholder value.

GFL Environmental (NYSE: GFL) announced the pricing of US$750 million in 3.750% senior secured notes due 2025, upsized from US$600 million due to strong demand. The net proceeds will be used for general corporate purposes, including acquisitions. The notes will not be registered under the Securities Act and are offered primarily to qualified institutional buyers. GFL, based in Vaughan, Ontario, is a major player in the environmental services sector in North America, serving over 135,000 customers and managing waste for more than 4 million households.

GFL Environmental Inc. (NYSE: GFL) has announced a planned private offering of US$600 million in senior secured notes due 2025. The proceeds will be allocated for general corporate purposes, including potential acquisitions. The notes are being offered only to qualified institutional buyers and will not be registered under the Securities Act. This move underlines GFL's strategic growth initiatives within North America, where it operates as a leading diversified environmental services company.

GFL Environmental announced the acquisition of WCA Waste Corporation for US$1.212 billion, financed partly by a US$600 million equity placement. WCA operates a robust waste management network across 11 U.S. states, generating annual revenue of approximately US$400 million. This strategic acquisition aims to enhance GFL's footprint in the Midwest and Southeast, creating opportunities for growth and synergy. GFL plans to issue convertible preferred shares at a premium to market price, maintaining expected leverage levels. Closing is anticipated in Q4 2020, pending regulatory approvals.

GFL Environmental reported Q2 2020 revenue of $993.3 million, reflecting a 19.5% increase year-over-year. Adjusted EBITDA rose 23.4% to $261.5 million, with a margin of 26.3%. Despite strong revenue growth, the company posted a net loss of $(115.5 million due to escalating costs linked to its IPO and bond redemptions. Cash flow from operating activities surged by 137.3% to $132.2 million. GFL announced the acquisition of a solid waste divestiture package, expected to close in Q3 2020, enhancing its market position.

GFL Environmental Inc. (NYSE: GFL) has announced that it will release its second quarter 2020 financial results on August 5, 2020, after market close. An investor conference call will follow on August 6, 2020, at 8:00 am ET. GFL is a leading environmental services company in North America, providing solid waste management and remediation services. The company boasts a workforce of over 13,000 employees and serves more than 135,000 customers, including solid waste collection for over 4 million households.

The Board of Directors of GFL Environmental has declared a cash dividend of US$0.01 per subordinate and multiple voting share for Q2 2020. This dividend will be paid on July 31, 2020 to shareholders of record as of July 20, 2020. GFL, the fourth largest diversified environmental services company in North America, serves over 135,000 commercial and industrial customers and provides services to more than 4 million households across Canada and the U.S.

On June 24, 2020, GFL Environmental announced a definitive agreement to acquire a portfolio of waste management assets for US$835 million. This acquisition includes 32 collection operations, 36 transfer stations, and 18 landfills across 10 states, expected to generate annual revenue of US$345 million. The deal will enhance GFL's presence in the U.S. Midwest, particularly in Wisconsin, and provide synergies for future growth. The closing is anticipated in the third quarter of 2020, pending regulatory approvals.

Frontier Waste Solutions, based in Texas, has appointed Alek Orloff as their new CFO. Orloff brings over 20 years of experience in the waste industry, previously serving as CFO at Alpine Waste & Recycling where he achieved a 25% annual growth rate. His leadership is expected to enhance Frontier's management depth and support strategic growth initiatives. Under the leadership of John Gustafson, Frontier aims to expand its solid waste and recycling services across North and Central Texas, focusing on quality and environmental responsibility.