Bookrunners Cowen and BB&T Capital Markets will assist with offering
By Devika Patel
Knoxville, Tenn., July 16 – Radiant Logistics, Inc. said it priced a $45 million public sale of stock with a $6.75 million greenshoe. The deal was announced Wednesday is made up of a $36 million sale by the company with a $5.4 million greenshoe and a $9 million secondary sale with a $1.35 million greenshoe.
The company will sell 5,333,334 common shares at $6.75 per share. The price per share is a 10.95% discount to the July 15 closing share price of $7.58. Selling shareholders will sell an additional 1,333,333 shares at the same price.
Cowen and Co., LLC and BB&T Capital Markets are the bookrunners.
Settlement is expected July 21.
Proceeds will be used to repay debt under the company’s credit facility, for working capital and general corporate purposes.
Radiant is a Bellevue, Wash.-based non-asset-based transportation and logistics services company that provides domestic and international freight-forwarding services.
| Issuer: | Radiant Logistics, Inc.
|
| Issue: | Common stock
|
| Amount: | $45 million
|
| Greenshoe: | $6.75 million, or 1 million shares
|
| Shares: | 6,666,667
|
| Price: | $6.75
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co., LLC and BB&T Capital Markets
|
| Announcement date: | July 15
|
| Pricing date: | July 15
|
| Settlement date: | July 21
|
| Stock symbol: | NYSE: RLGT
|
| Stock price: | $7.58 at close July 15
|
| Market capitalization: | $298.46 million
|
|
|
| Primary offering
|
| Amount: | $36 million
|
| Greenshoe: | $5.4 million, or 800,000 shares
|
| Shares: | 5,333,334
|
|
|
|
|
| Secondary offering
|
| Amount: | $9 million
|
| Greenshoe: | $1.35 million, or 200,000 shares
|
| Shares: | 1,333,333
|
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