BELLEVUE, Wash., Dec. 9, 2013 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE MKT: RLGT) a domestic and international logistics services company (the "Company"), today announced that it commenced an underwritten public offering of an original issuance of Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Shares"). The Company has filed an application to list the Series A Preferred Shares on the NYSE MKT Stock Market.
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 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.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective and the 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, copies of which may be obtained when available by contacting: