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5% Stockholders (5/01/18)
Elliott Reporting Entities
3,690,055
9.5%
HCI Reporting Entities
7,801,625
20.3%
Barclays Reporting Entities
4,361,348
11.3%
BlackRock, Inc.
3,903,766
10.1%
Dimensional Fund Advisors LP
2,107,891
5.5%
FMR Reporting Entities
4,996,917
13.0%
The Vanguard Group
1,858,600
4.8%
Roadrunner Transportation Systems Announces Plans for Rights Offering to Stockholders (9/19/18)
DOWNERS GROVE, Ill.--(BUSINESS WIRE)--Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “company”) (NYSE: RRTS), a leading asset-right transportation and asset-light logistics service provider, announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) for a rights offering to existing holders of its common stock. This rights offering is expected to be supported by a commitment that is being negotiated with certain funds affiliated with Elliott Management Corporation (collectively, “Elliott”) to purchase all unsubscribed shares of the company’s common stock (the “backstop commitment”) to ensure that the rights offering is fully subscribed. The company expects to receive gross proceeds of approximately $450 million before fees and expenses. The purpose of the rights offering is to improve and simplify the company’s capital structure in a manner that gives the company’s existing stockholders the opportunity to participate on a pro rata basis. By improving and simplifying its capital structure, the company believes it will increase the speed and likelihood of a full operational recovery.
The company intends to use the proceeds from the rights offering and the backstop commitment to pay in cash all accrued and unpaid dividends on the company’s outstanding shares of preferred stock, to redeem all of the company’s outstanding shares of preferred stock, to pay all expenses incurred by Elliott in connection with any backstop commitment and to pay all fees and expenses of the company in connection with the rights offering. Elliott will not receive any fees for providing the backstop commitment. The company intends to use any remaining proceeds for general corporate purposes.
Consummation of the rights offering is, among other things, subject to approval by the holders of a majority of the company’s common stock and the holders of a majority of the company’s common stock not beneficially owned by Elliott of (i) an amendment to the company’s amended and restated certificate of incorporation authorizing additional shares for issuance in the rights offering, (ii) an amendment to the company’s amended and restated certificate of incorporation to authorize certain corporate governance changes to be negotiated with Elliott in connection with the backstop commitment, and (iii) the standby purchase agreement and the potential change of control that may result from the purchase of shares of the company’s common stock by Elliott pursuant to any backstop commitment.
Accordingly, the rights offering will not commence until the registration statement becomes effective and the foregoing proposals are approved at a meeting of the stockholders. Once the foregoing proposals are approved by the stockholders, the rights offering will be made by distributing at no charge to the company’s stockholders one transferrable right for every share of common stock owned by each stockholder as of the record date to purchase new shares of Roadrunner common stock (the “basic subscription right”). The company expects to list the rights for trading on the New York Stock Exchange. The subscription price and number of shares each right will entitle the holder to purchase have not yet been determined. The record date for the distribution of the rights and the dates for both the subscription period and expiration of the rights offering will be included in the final prospectus.
If the rights offering is not fully subscribed under the basic subscription right, stockholders who exercise the basic subscription right in full will be entitled to subscribe for additional shares of common stock up to the number of shares purchased under such holder’s basic subscription right at the same subscription price (the “over-subscription right”). In addition, the company is currently negotiating and expects to enter into a standby purchase agreement with Elliott pursuant to which the company expects Elliott to agree to exercise its basic subscription right in full, although Elliott would not be entitled to subscribe for additional shares under the over-subscription right, and pursuant to which the company expects to agree to issue and sell to Elliott, and for Elliott to agree to purchase from the company, all unsubscribed shares of common stock in the rights offering, at a price per share equal to the subscription price. Elliott is under no obligation to enter into the standby purchase agreement and Roadrunner does not expect to commence the rights offering in the event it is unable to enter into the standby purchase agreement with Elliott. Elliott is currently a 9.5% beneficial holder of Roadrunner common stock and holds all of Roadrunner’s outstanding preferred stock.
Questions about the rights offering may be directed to the company’s dealer manager, Barclays Capital Inc. by telephone at (212) 526-3511 or (212) 526-1627.
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.
A copy of the prospectus forming a part of the registration statement may be obtained free of charge at the website maintained by the SEC at www.sec.gov or by contacting Roadrunner at (414) 615-1500. The rights will be issued to holders of Roadrunner’s common stock as of a record date, which has yet to be determined. The company will provide notice of the record date in the future at such time as it is determined. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Roadrunner Transportation Systems, Inc.
Roadrunner Transportation Systems is a leading asset-right transportation and asset-light logistics service provider offering a full suite of solutions under the Roadrunner®, Active On-Demand® and Ascent Global Logistics® brands. The Roadrunner brand offers less-than-truckload, temperature controlled and intermodal services. Active On-Demand offers premium mission critical air and ground transportation solutions. Ascent Global Logistics offers domestic freight management, retail consolidation, international freight forwarding and customs brokerage. For more information, please visit Roadrunner’s websites, www.rrts.com and www.ascentgl.com.
https://www.businesswire.com/news/home/20180919005847/en/Roadrunner-Transportation-Systems-Announces-Plans-Rights-Offering
* * $RRTS Video Chart 09-18-18 * *
Link to Video - click here to watch the technical chart video
* * $RRTS Video Chart 09-17-18 * *
Link to Video - click here to watch the technical chart video
* * $RRTS Video Chart 09-14-18 * *
Link to Video - click here to watch the technical chart video
Wow what is going on here?? Is the WEC finally going to win one? ... Beep Beep.
It's been 14 trading sessions since RRTS held their press conference to discuss the earnings restatement and the underlying managerial issues that caused it. Post meeting, RRTS has likely been meeting with institutional investors and analysts, selling their recovery plans. How's it going? The stock has closed lower on 11 of those 14 sessions; today's progress isn't looking much better. Over 4.5 million shares have traded during this time - more than triple the normal volume and over 10% of the shareholder base. Management is losing the PR battle and now the stock is trading below book value. For stockholders like me, it is so disappointing. I had high hopes for their ability to build investor confidence and weather their way through this. We face tough questions: Is current management up to the challenge? Will employee and partner morale be strong through the storm? Any above all, will the economy NOT throw additional challenges in their way?
Breakout at $9.00 Next two stops on this train are 12 and 13 volume starting to surge a bit as well
Value investor is correct RRTS at least 60% undervalued Partnering with Elliot cap management was best move ever Elliot is a serious player and will take it up from here
Elliott Associates, L.P. has filed a new activist 13D, reporting 2.8% ownership in $RRTS - https://fintel.io/so/us/rrts
This has been under the radar for awhile now.With a decent quarterly this should go back over $7 with ease.
Fundamentals imply Roadrunner Transportation $RRTS is 60% undervalued w/ earnings expected Wednesday:
Fair Value Source
Wth is going on here?
First time posting in this board.
I'm a driver, contracted driver for Rrts.
We are moving tons of freight.
I'm dedicated Atlanta-Oakland, twice a month. The bills I get I've been told average Rrts $8000 per trip. That's 4 per month for me. My cut is $3100 per.
I'm making them almost a quarter million per year.
There are over 1200 Rrts drivers.
Rrts is making a shit ton of money, FAST MONEY, wth is this stock going down?
I'm buying!!
It looks like Roadrunner has put in a bottom.
It looks like Roadrunner has put in a bottom.
I grabbed some at the end for 9.32 yesterday.I couldn't resist at that price!
Do They lose more than they MAKE?????????
Yesssssssssssssssss. That's why we are so confident shorting thisssss
But, do they make MONEY??????????
NH
Just you wait till the Crush Groove happens. Offshore hedgies will have a field day shorting this to the ground.
They are not an asset based carrier. They are brokers that don't even re classify freight. Their books are awful.
FRIDAY NUMBERS, this company is relatively new, mid 2010. They have acquired a few 3pl companies, and are growing. This is rated a buy in my opinion. It has a growth rate of 21%. Good luck with those shorts to $5.00, me thinks you are out of luck, at least for now. We never know how bad it will get over the next 4 yrs with this administration, The OBONGO ADMINISTRATION. No bets.
Company Open Close Change % Change Volume AvgVol High Low Value Stop Rec
RRTS $18.97 $19.26 $0.32 1.69 99,899 116,439 $19.30 $18.86 $24.78 $17.58 Buy
Looks like a great buy to me. It is up .15 so far today.
NH
What ya mean no assets???
NH
This play is an automatic short .
I'm gonna short this down to $5.00!
$RRTS ,, next were gonna hear a wild one about drug runners! ..HAHA!
$RRTS
But are they moving it at a profit ? For example , I moved a shipment from PA 1 pallet, 900 #'s, class 55 to AZ and I paid only $145 ! The p/u driver makes $50 a p/u and the delivery driver the same. Now RRTS uses agents to line-haul and that costs about $75 bucks. I'm telling you , with the bad CSR and all its amazing they're at half a BILLion.
$RRTS ,, sorry to hear that ,, i know some of the office ppl at the main office , and i guess you got one of the slackers .. lol,, they do move alot of product tho..
$RRTS
No assets and worth Half A billion ? come on.
I work at a factory in PA and Roadrunner has the worst service. I'm on hold for 30 minutes each time. How can this be worth half a Billion ?
$RRTS ,, indeed...
$RRTS
You live in WI ?
$RRTS ,, and please provide some other info , besides your opinions ,, thanks!!
$RRTS
$RRTS .. could be ... but its down the road from me .. and i do auto work for some of the ppl in the executive office
$RRTS
This company appears to be a big ponzie scheme. No assets!
This Co. owns no assets at all.
This company has a lot of missing links.
jmho
RRTS .. wow this place is quiet .. any one even play with this one?
RRTS
RRTS , Financials coming after market close today ..
Roadrunner Transportation Systems, Inc. (NYSE: RRTS), a leading non-asset based transportation and logistics services provider, today announced that it will host a conference call to discuss its financial results for the second quarter ended June 30, 2010 on Wednesday, August 4, 2010 at 4:30 p.m. Eastern Time. Roadrunner Transportation Systems will release its 2010 second quarter financial results that Wednesday immediately after market close
RRTS , Thanks much for the info!
I have a feeling financials are going to start looking much better. Before they were public they have purchased a few other companys and have more terminals now. From what i have heard around town , since RRTS is right down the road. The have picked up in business and should look much better when financials come out.
RRTS
Roadrunner Transportation Systems (RRTS) (NYSE:RRTS) is a transportation and logistics service provider to be a transportation brokerage. The company uses proprietary web-enabled technology along with third-party network. The company's customers have some national accounts, but it primarily focuses on the small-to-medium sized shippers. Most of the shipments are less-than-truckload shipments.
According to the American Trucking Associations, or the ATA, the over-the-road freighters had a decline due to the weakening demand for freight from manufacturers, construction companies, and retail. From 2008-2009, the US total over-the-road freight declined 23.2%, but the company only declined by 4.6%. This is the result of the company being able to acquire new customers and reducing costs.
The company's initial public offering of stock filed on the NYSE exchange and went public on 12 May 2010. The shares were priced at $14, the low end of the initial price range of $14.00-$16.00. The company raised $146 million by offering 10.6 million shares.
For FY2009 with year ended 31 December 2009, the company reported $450.3 million in revenue, down 16.2% from $537.4 million in revenue for FY2008. Furthermore, the company had a net income of $167,000, an increase from a net loss of $3.8 million.
RRTS About time we have a board for this company!
Roadrunner is in the top 4 profiting freight haulers.
RRTS
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