BELLEVUE, Wash., March 13, 2018 /PRNewswire/ -- Radiant
Logistics, Inc. (NYSE American: RLGT), a third-party logistics and
multimodal transportation services company, today announced that
its board of directors has authorized the repurchase of up to five
million shares of the Company's common stock through December 31, 2019. As of February 1, 2018, the Company had 49,341,907
shares outstanding.
The share repurchases may occur from time-to-time through open
market purchases at prevailing market prices or through privately
negotiated transactions as permitted by securities laws and other
legal requirements. The Company expects to fund all purchases from
existing cash balances, cash available under the Company's
revolving credit facility and future cash flows from operations.
The program allows the Company to repurchase its shares at its
discretion. Market conditions, price, corporate and regulatory
requirements, alternative investment opportunities, and other
economic conditions will influence the timing of the buyback and
the number of shares repurchased. The program does not obligate the
Company to repurchase any specific number of shares and, subject to
compliance with applicable securities laws and other legal
requirements, may be suspended or terminated at any time without
prior notice.
Bohn Crain, Founder and CEO,
said, "We believe the current share price does not accurately
reflect Radiant's long-term growth prospects, and therefore,
represents an excellent investment opportunity for both the Company
and our shareholders."
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 any share repurchase
program, including specifically under our existing credit
facilities, , 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, competition, management of growth,
potential fluctuations in operating results, and government
regulation. More information about factors that potentially could
affect Radiant Logistics, Inc. 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.
View original content with
multimedia:http://www.prnewswire.com/news-releases/radiant-logistics-announces-stock-buy-back-program-300613361.html
SOURCE Radiant Logistics, Inc.