Monitor next quarterly filing for integration progress and margin impact from shifting Allied's volume onto Cardinal projects. The stock component (1,006,796 shares) creates modest dilution but was used to fund a strategic tuck-in — watch for any registration rights filing that could signal near-term overhang.
Price Chart
Executive Summary
Cardinal Infrastructure Group completed its acquisition of Allied Paving Contractors for approximately $115.0 million, funded with $88.9 million in cash and 1,006,796 shares of Class A Common Stock issued in a private placement. The acquisition adds ~$100 million in standalone revenue and expands Cardinal's self-performing paving capabilities in the Atlanta market.
Key Facts
- Acquisition of Allied Paving Contractors closed on October 1, 2026
- Total consideration of approximately $115.0 million: $88.9 million cash + 1,006,796 shares of Class A Common Stock
- Allied generated approximately $100 million in revenue on a standalone basis
- Shares issued under Section 4(a)(2) private placement exemption; not registered for resale
- John McLean, CEO of Allied, will join Cardinal's leadership team managing paving operations across Georgia
Financial Impact
$115.0 million total consideration for acquisition; $100 million standalone revenue acquired
Risk Factors
- Integration risk: combining Allied's operations and retaining key personnel
- Dilution from 1,006,796 new shares issued
- Cash consideration of $88.9 million reduces balance sheet flexibility
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-410735 |
| Document: cdnl-ex99_1.htm | 0001193125-26-410735 |
| Document: 0001193125-26-410735-index-headers.html | 0001193125-26-410735 |
| Document: 0001193125-26-410735-index.html | 0001193125-26-410735 |
| Document: 0001193125-26-410735.txt | 0001193125-26-410735 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | SC 13G | $15.20 | awaiting T+20 | — | $15.15 (−0.33%) |
Oct 19, 2026 8d ago | 8-K | $15.87 | awaiting T+20 | — | $15.15 (−4.54%) |
Oct 19, 2026 8d ago | Press Release | $15.87 | awaiting T+20 | — | $15.15 (−4.54%) |
Oct 13, 2026 14d ago | Press Release | $18.62 | awaiting T+20 | — | $15.15 (−18.64%) |
Oct 1, 2026 26d ago | 8-K | $30.73 | awaiting T+20 | — | $15.15 (−50.70%) |
Oct 1, 2026 26d ago | Press Release | $30.73 | awaiting T+20 | — | $15.15 (−50.70%) |
Aug 18, 2026 10w ago | Insider Cluster | $43.33 $31.75 | ▼ −26.73% | ▼ −25.89% | $15.15 (−65.04%) |
Aug 17, 2026 10w ago | Insider Cluster | $45.14 $33.64 | ▼ −25.49% | ▼ −24.50% | $15.15 (−66.44%) |
Aug 11, 2026 11w ago | 8-K | $38.27 $34.57 | ▼ −9.67% | ▼ −8.61% | $15.15 (−60.41%) |
Aug 11, 2026 11w ago | Press Release | $38.27 $34.57 | ▼ −9.67% | ▼ −8.61% | $15.15 (−60.41%) |
US Market Status
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