Radiant Logistics Announces Pricing Of Series A Cumulative Redeemable Perpetual Preferred Stock

Dec 12, 2013, 19:57 ET from Radiant Logistics, Inc.

BELLEVUE, Wash., Dec. 12, 2013 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE MKT: RLGT) a domestic and international logistics services company (the "Company"), today announced that it priced a public offering of 800,000 shares of its 9.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Shares"), liquidation preference $25.00 per share for gross proceeds of approximately $20.0 million, before deducting the underwriting discount and other estimated offering costs.  The offering is subject to customary closing conditions and is expected to close on or about December 20, 2013.  The Company expects to list the Series A Preferred Shares on the NYSE MKT Stock Market under the symbol "RLGTPRA" and the shares to commence trading within 30 days of the original issue date.

In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 120,000 shares of the Series A Preferred Stock to cover overallotments, if any.

The Company intends to use the net proceeds from the sale of the securities offered by us under this prospectus 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"). After paying down the BofA credit facility upon the closing of the offering, the Company expects to have less than  $5.0 million drawn on such credit facility.  In the future, the Company may make additional borrowings under the credit facility, subject to the terms thereof, including the borrowing base, for working capital and general corporate purposes, including to fund potential acquisitions.

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

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (SEC). These securities may not be sold in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made solely by means of a written prospectus forming a part of the registration statement, copies of which may be obtained when available by contacting:

Sterne, Agee & Leach, Inc.
Attn: Prospectus Department
277 Park Avenue, 24th Floor
New York, NY 10172
Phone: 212-338-4708
Fax: 205-414-6373
Email: syndicate@sterneagee.com

Janney Montgomery Scott LLC,
Attn: Prospectus Department
1717 Arch Street
Philadelphia, Pennsylvania 19103
Telephone: 215-665-6170
Email: preinhart@janney.com

About Radiant Logistics

Radiant Logistics, Inc. (www.radiantdelivers.com) is a non-asset based transportation and logistics company providing domestic and international freight forwarding services and an expanding array of value-added solutions, including customs and property brokerage, order fulfillment, inventory management and warehousing. The company operates through a network of company-owned and independent agent offices across North America under the Radiant, Airgroup, Adcom, DBA and On Time network brands servicing a diversified account base including manufacturers, distributors and retailers using a network of independent carriers and international agents positioned strategically around the world.

Cautionary Statement about Forward Looking Information

Statements in this press release contain "forward looking" information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve a number of risks and uncertainties. Those factors include conditions in the financial markets and customary offering closing conditions. Please see Radiant Logistics's filing with the SEC for certain other factors that may affect forward looking information.

SOURCE Radiant Logistics, Inc.