RLGT Radiant Logistics Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 05, 2023

 

 

RADIANT LOGISTICS, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			001-35392	04-3625550
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
Triton Towers Two 700 S. Renton Village Place Seventh Floor
Renton, Washington				98057
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 425 462-1094

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 Par Value		RLGT		NYSE American LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

““

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Item 8.01 Other Events.

On December 5, 2023, Radiant Logistics, Inc. (the “Company”), 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, 2025. As of December 1, 2023, the Company had 46,906,586 shares outstanding. The timing and extent to which the Company repurchases shares will depend on market conditions and other corporate considerations.

A copy of the Company’s press release announcing these matters is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

No.		Description
99.1		Press Release, dated December 5, 2023 Radiant Logistics announces renewal of its stock repurchase program
104		Cover Page Interactive Data (embedded within the Inline XBRL document)

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			Radiant Logistics, Inc.
Date:	December 5, 2023	By:	/s/ Todd Macomber
			Todd Macomber Senior Vice President and Chief Financial Officer

 

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Exhibit 99.1

 

RADIANT LOGISTICS ANNOUNCES RENEWAL OF ITS STOCK REPURCHASE PROGRAM

________________________________________________________________________

 

RENTON, WA, December 5, 2023 – Radiant Logistics, Inc. (NYSE American: RLGT), a technology-enabled global transportation and value-added logistics 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, 2025. As of December 1, 2023, the Company had 46,906,586 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 purchases 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 adequately reflect Radiant’s long-term growth prospects, and therefore, the repurchase of our shares could represent 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 our financial results are included in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, our most recent Reports on Form 10-Q and all other subsequent filings with the Securities and Exchange Commission.

# # #

Investor Contact: Radiant Logistics, Inc. Todd Macomber (425) 943-4541 Investors@radiantdelivers.com	Media Contact: Radiant Logistics, Inc. Jennifer Deenihan (425) 462-1094 communications@radiantdelivers.com

 

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v3.23.3

Document And Entity Information	Dec. 05, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Dec. 05, 2023
Entity Registrant Name	RADIANT LOGISTICS, INC.
Entity Central Index Key	0001171155
Entity Emerging Growth Company	false
Entity File Number	001-35392
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3625550
Entity Address, Address Line One	Triton Towers Two
Entity Address, Address Line Two	700 S. Renton Village Place
Entity Address, Address Line Three	Seventh Floor
Entity Address, City or Town	Renton
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98057
City Area Code	425
Local Phone Number	462-1094
Entity Information, Former Legal or Registered Name	N/A
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.001 Par Value
Trading Symbol	RLGT
Security Exchange Name	NYSEAMER

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