BELLEVUE, Wash., July 16, 2015 /PRNewswire/ -- Radiant
Logistics, Inc. (NYSE MKT: RLGT), a third party logistics and
multimodal transportation services company, today announced the
pricing of an underwritten public offering of 6,666,667 shares of
its common stock at a price of $6.75
per share. The offering includes 5,333,334 shares offered by
Radiant and 1,333,333 shares offered by certain selling
stockholders of Radiant. Radiant and the selling stockholders have
also granted to the underwriters a 30-day option to acquire an
additional 800,000 shares from Radiant and 200,000 shares from the
selling stockholders to cover over-allotments, if any, in
connection with the offering. After the underwriting discount and
estimated offering expenses payable by Radiant, the net proceeds
are expected to be approximately $41.7
million, not including any proceeds that Radiant and the
selling stockholders may receive if the underwriters exercise their
over-allotment option. Radiant will not receive any proceeds from
the sale of shares by any selling stockholders. The offering is
expected to close on or about July 21,
2015, subject to customary closing conditions.
Radiant intends to use the net proceeds from the offering to
repay outstanding indebtedness on its senior credit facility and,
to the extent there are any remaining proceeds after such
repayment, for general corporate purposes, including to fund
working capital.
In connection with the offering, Cowen and Company, LLC and
BB&T Capital Markets, a division of BB&T Securities, LLC,
are acting as joint book-running managers.
The shares are being offered pursuant to an effective shelf
registration statement. This press release does not
constitute an offer to sell, or the solicitation of an offer to
buy, these securities, nor will there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale is not permitted.
This offering is being made only by means of a prospectus and
related prospectus supplement, which have been filed with the
Securities and Exchange Commission (SEC), and a final prospectus
supplement will be filed with the SEC. Copies of the final
prospectus supplement and the accompanying prospectus relating to
the securities being offered may also be obtained, when available,
from Cowen and Company, LLC, c/o Broadridge Financial Services,
Attention: Prospectus Department, 1155 Long Island Avenue,
Edgewood, NY 11717, by calling
(631) 274-2806, or by fax at (631) 254-7140; or from BB&T
Capital Markets, Attention: Syndicate Department, 901 East Byrd
Street, 3rd Floor, Richmond,
VA 23219, by calling (804) 782-8726, or by email at
prospectusrequests@bbandtcm.com. Electronic copies of the final
prospectus supplement and accompanying prospectus will also be
available on the SEC's website at http://www.sec.gov.
About Radiant Logistics (NYSE MKT: RLGT)
Radiant Logistics (www.radiantdelivers.com) is a comprehensive
North American provider of third party logistics and multimodal
transportation services. As a non-asset provider, with
minimal investment in equipment, the company delivers advanced
supply chain solutions through a network of company-owned and
strategic operating partner locations across North America under the Radiant®,
Wheels™, On-Time™, Airgroup®, Adcom®, DBA™,
Service By Air™, and Highways and Skyways™ network brands.
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.
Forward-Looking Statements
This announcement contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended (the "Securities Act"), and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and such
statements are subject to the safe harbor created by these sections
and the Private Securities Litigation Reform Act of 1995, as
amended.
Any statements that are not statements of historical fact or
that refer to estimated or anticipated future events are
forward-looking statements. Without limiting the generality of the
foregoing, words such as "may," "will," "expect," "believe,"
"anticipate," "intend," "could," "would," "estimate," "project,"
"continue," or "pursue," or the negative other variations thereof
or comparable terminology, are intended to identify forward-looking
statements. We have based our forward-looking statements on our
management's beliefs and assumptions based on information available
to them at the time such statements were made. Such forward-looking
statements reflect our current perspective of our business, future
performance, existing trends and information as of the date of this
announcement. In this press release, statements regarding the stock
offering are forward-looking statements. The forward-looking
statements are not guarantees of future performance and involve
certain risks, uncertainties and assumptions that are difficult to
predict. Among the important factors that could cause actual
results to differ materially from those indicated by such
forward-looking statements are risks relating to, among other
things, whether we are able to raise capital through the sale of
common stock in the offering, the final terms of the offering,
market and other conditions, the satisfaction of customary closing
conditions related to the offering, our business and financial
condition, and the impact of general economic, industry or
political conditions in the United
States or internationally. We caution you that other
important factors may affect our actual operating results and could
cause such results to differ materially from those expressed or
implied by forward-looking statements. See "Risk
Factors" in Part I, Item 1A of our Form 10-K for the fiscal year
ended June 30, 2014 and our other
reports filed with the SEC, including our Form 10-Q for the quarter
ended March 31, 2015 and the
prospectus supplement and accompanying prospectus filed with the
SEC in connection with the offering described herein.
Forward looking statements speak only as of the date such
statements are made. We disclaim any obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise. We also may make
additional disclosures in filings that we make from time to time
with the SEC.
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SOURCE Radiant Logistics, Inc.