BELLEVUE, Wash., June 28, 2017 /PRNewswire/ -- Radiant Logistics,
Inc. (the "Company") (NYSE MKT: RLGT) today announced that it has
secured a new CAD$10.0 million senior
secured Canadian term loan from Integrated Private Debt Fund V LP
(the "IPD V Term Loan"). The proceeds from the IPD V Term
Loan will effectively replenish the Company's U.S. senior credit
facility with Bank of America, N.A., which had been used as a
bridge to finance the Company's acquisition of Lomas Logistics
earlier this year. The IPD V Term Loan will amortize monthly over a
seven year period and accrues interest at a rate of 6.65%.
"We are very pleased to announce our new CAD$10.0 million term loan from IPD," said
Bohn Crain, Founder and CEO of the
Company. "The new term loan, in combination with our recently
expanded US$75.0 million senior
credit facility, gives us additional capacity to continue to
execute on compelling acquisition opportunities while also
preserving our ability to pursue other initiatives to unlock
shareholder value, including opportunities to call our redeemable
perpetual preferred stock and/or execute a buyback of our common
stock, if either are warranted at the time."
About Radiant Logistics, Inc.
Radiant Logistics, Inc. (www.radiantdelivers.com) is a
third-party logistics and multimodal transportation services
company delivering advanced supply chain solutions through a
network of company-owned and strategic operating partner locations
across North America. Through its
comprehensive service offering, the Company provides domestic and
international freight forwarding services, truck and rail brokerage
services and other value-added supply chain management services,
including customs brokerage, order fulfillment, inventory
management and warehousing to a diversified account base including
manufacturers, distributors and retailers using a network of
independent carriers and international agents positioned
strategically around the world.
This announcement contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Actual
results may differ significantly from management's expectations.
These forward-looking statements involve risks and uncertainties
that include, among others, risks related to: trends in the
domestic and global economy; our ability to attract new and retain
existing agency relationships; acquisitions and integration of
acquired entities; availability of capital to support our
acquisition strategy; our ability to comply with financial
covenants under our outstanding indebtedness; our ability to
maintain and improve back office infrastructure and transportation
and accounting information systems in a manner sufficient to
service our revenues and network of operating locations; our
ability to maintain and grow our revenues and operating margins in
a manner consistent with recent operating results and trends; our
ability to maintain positive relationships with our third-party
transportation providers, suppliers and customers; outcomes of
legal proceedings; competition; management of growth; potential
fluctuations in operating results; and government regulation. More
information about factors that potentially could affect our
financial results is included Radiant Logistics, Inc.'s filings
with the Securities and Exchange Commission, including its most
recent Annual Report on Form 10-K and subsequent filings.
The use of proceeds under the term loan and credit facility
described above reflect possible uses and are not guarantees of how
the proceeds will be used, if at all. Any use of proceeds by the
Company will be subject to, among other things, then applicable:
industry conditions, competitive environment, operational
performance, financial covenants within any outstanding
indebtedness, contractual restrictions, and regulatory
requirements.
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SOURCE Radiant Logistics, Inc.