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Published on 12/20/2013 in the Prospect News Preferred Stock Daily.

Radiant Logistics greenshoe lifts preferred sale to $20.98 million

By Tali David

Minneapolis, Dec. 20 - Underwriters for Radiant Logistics, Inc.'s offering of series A cumulative redeemable preferred stock partially exercised their over-allotment option, adding an additional $980,000, according to a press release.

The company priced $20 million of the preferreds on Dec. 12. The over-allotment option brings the total issuance to $20.98 million.

As previously reported, Sterne Agee & Leach, Inc. and Janney Montgomery Scott LLC are the joint bookrunning managers. Boenning & Scattergood, Inc. and National Securities Corp. are the co-managers.

Proceeds will be used to retire the outstanding balance owed under the senior subordinated notes issued to Caltius and to reduce the amount outstanding under a $30 million credit facility with Bank of America, NA.

Radiant is a Bellevue, Wash.-based non-asset-based transportation and logistics services company that provides domestic and international freight-forwarding services.


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