NEW YORK, June 8, 2017 /PRNewswire/ --
- Radiant's revenue recognition methods have been questioned by the SEC and Radiant's CEO was CFO at Stonepath Group, a company that was delisted after accounting regularities emerged and later filed for bankruptcy
- Spruce Point believes that Radiant's roll-up strategy is non-accretive and beginning to show signs of financial strain along with the rest of the 3rd party logistics space
- Spruce Point believes that Radiant's capital structure is unattractive, the company has unfavorable capital management policies, and its share price is materially overvalued relative to peers
Spruce Point Capital has a short position in Radiant Logistics and stands to benefit if its share price falls.
About Spruce Point Capital
Spruce Point Capital Management, LLC, is a fundamentally-oriented investment manager that focuses on short-selling, value and special situation investment opportunities.
Spruce Point Capital Management
Spruce Point Capital Management, LLC is a member of the Financial Industry Regulatory Authority, CRD number 288248.
SOURCE Spruce Point Capital Management, LLC