Business Context and Reporting Period
This Form 8-K Current Report was filed by Radiant Logistics, Inc. on December 6, 2018. The filing addresses a specific corporate action regarding the company's capital structure rather than a standard periodic financial reporting period.
Key Financial Metrics
The filing does not provide standard operating metrics such as revenue, profit, cash flow, or margins. The primary financial data disclosed relates to the redemption of preferred stock:
- Instrument: 9.75% Series A Cumulative Redeemable Perpetual Preferred Stock (RLGT-PA).
- Shares Outstanding: 839,200 shares.
- Redemption Price: $25.00 per share.
- Additional Payment: Accrued and unpaid dividends up to, but not including, the redemption date.
Material Changes
The material change reported is the company's intention to redeem all outstanding shares of its Series A Preferred Stock. This action will result in:
- Cessation of dividend accruals on the Series A Preferred Stock as of the redemption date.
- Termination of all rights associated with the stock, except for the right to receive the redemption payment.
- Delisting of the Series A Preferred Stock from the NYSE American stock exchange.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or a discussion of general business risks. The specific event carries the contingency that the redemption is scheduled to occur on December 21, 2018, pursuant to the Certificate of Designation, Preferences and Rights.
Investor Verification Checklist
- Verify the total cash outflow required for the redemption (839,200 shares x $25.00 plus accrued dividends).
- Confirm the exact amount of accrued and unpaid dividends to be paid on the redemption date.
- Check the company's liquidity position to ensure sufficient cash is available for the December 21, 2018 payment.
- Review the press release (Exhibit 99.1) for any additional terms or conditions not detailed in the 8-K summary.