Radiant Logistics closes 9.75% series A cumulative public offering

23 December 2013

Radiant Logistics, Inc. (NYSE: RLGT) said it has completed the public offering of 800,000 shares of its 9.75% series A cumulative redeemable perpetual preferred stock liquidation preference USD25.00 per share.

The underwriters also exercised a portion of their overallotment option and purchased an additional 39,200 shares of stock from the company at USD25 per share. The company received gross proceeds of approximately USD21m, before deducting the underwriting discount and other estimated offering costs.

The company said it expects that the 9.75% series A preferred shares will be listed on the NYSE Stock Market under the symbol “RLGTPRA” effective upon the opening of trade on Monday, December 23, 2013 and that trading in the shares will commence immediately thereafter.

The company intends to use the net proceeds from the sale of the 9.75% series A preferred stock primarily to retire the outstanding balance owed under the senior subordinated notes issued to Caltius and reduce the amount outstanding under its credit facility with Bank of America, NA (BofA).

Sterne, Agee & Leach Inc. and Janney Montgomery Scott LLC acted as joint book running managers for the offering. Boenning & Scattergood, Inc. and National Securities Corp. acted as co-managers for the offering.

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