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Atlas predicts successful future after stock offering completed
Atlas Van Lines Inc. management, saddled with $74 million in long-term debt and razor-thin margins that allow little room for error, doesn't foresee problems in steering the company to profitability, according to the Springfield agent who engineered the leveraged buyout of the moving company.
This week, the firm was expected to close on an offering that will distribute the company's stock to hundreds of Atlas agents nationwide and raise approximately $6 million in new equity.
Over the next year, Atlas is scheduled to pay cash interest expenses totaling $10 million and principal repayments …