Home > Boards > US Listed > Automotive and Transportation > Daseke, Inc. (DSKE)

Daseke Announces Cooperation Agreements with Lyons Capital and

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Enterprising Investor Member Profile
Member Level 
Followed By 214
Posts 11,085
Boards Moderated 3
Alias Born 04/05/09
160x600 placeholder
Daseke To Buy Back 3M In Stock; Street Sees Over 24% Upside TipRanks - 3/23/2021 2:54:52 AM
Daseke to buy back shares opportunistically Seeking Alpha - 3/22/2021 4:38:46 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 3/22/2021 4:31:30 PM
Daseke Announces Stock Repurchase Program GlobeNewswire Inc. - 3/22/2021 4:30:00 PM
Daseke refinances existing $484M term loan; credit ratings upgraded Seeking Alpha - 3/10/2021 2:04:56 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 3/10/2021 8:01:34 AM
Daseke Announces Term Loan Refinancing and Credit Rating Upgrades GlobeNewswire Inc. - 3/10/2021 8:00:00 AM
Securities Registration: Employee Benefit Plan (s-8) Edgar (US Regulatory) - 2/26/2021 4:33:50 PM
Annual Report (10-k) Edgar (US Regulatory) - 2/26/2021 8:04:03 AM
Amended Statement of Ownership (sc 13g/a) Edgar (US Regulatory) - 2/16/2021 6:14:47 AM
Annual Statement of Changes in Beneficial Ownership (5) Edgar (US Regulatory) - 2/12/2021 4:46:26 PM
Annual Statement of Changes in Beneficial Ownership (5) Edgar (US Regulatory) - 2/12/2021 4:46:25 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 1/29/2021 10:47:21 AM
Amended Statement of Ownership (sc 13g/a) Edgar (US Regulatory) - 1/29/2021 10:02:36 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 1/29/2021 8:01:42 AM
Daseke Reports Results for Fourth Quarter and Full Year 2020 GlobeNewswire Inc. - 1/29/2021 8:00:00 AM
Daseke, Inc. to Release Fourth Quarter and Full-Year 2020 Results on January 29, 2021 GlobeNewswire Inc. - 1/18/2021 8:00:00 AM
Initial Statement of Beneficial Ownership (3) Edgar (US Regulatory) - 1/11/2021 8:01:46 AM
Amended Statement of Beneficial Ownership (sc 13d/a) Edgar (US Regulatory) - 1/5/2021 10:41:48 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 1/5/2021 8:16:31 AM
Daseke Announces Cooperation Agreements with Lyons Capital and Don Daseke GlobeNewswire Inc. - 1/5/2021 8:01:00 AM
Daseke Announces CEO Retirement GlobeNewswire Inc. - 1/5/2021 8:00:00 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 11/25/2020 4:31:21 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 11/17/2020 8:02:15 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 11/12/2020 9:06:15 AM
Enterprising Investor Member Level  Tuesday, 01/05/21 11:19:19 PM
Re: None
Post # of 11 
Daseke Announces Cooperation Agreements with Lyons Capital and Don Daseke (1/05/21)

Appoints Grant Garbers to Board of Directors

Company to Repurchase Three Million Shares of Stock

ADDISON, Texas, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Daseke, Inc. (NASDAQ: DSKE) (“Daseke” or the “Company”), the largest flatbed, specialized transportation and logistics solutions company in North America, announced today that it reached separate agreements with Lyons Capital, LLC and its affiliates (together “Lyons Capital”), who hold approximately 5% of the Company’s common stock, and with Don Daseke and his affiliates (together, “Mr. Daseke”), who hold approximately 28% of the Company’s common stock, regarding the membership and composition of the Board of Directors of the Company (the “Board”).

Under the terms of the agreement with Lyons Capital, the Company appointed Grant Garbers to its Board, effective January 1, 2021, and will nominate Mr. Garbers for election to the Board at the Company’s 2021 Annual Meeting of Shareholders (the “2021 Annual Meeting”). Kevin Charlton stepped down from the Board effective January 1, 2021.

Under the terms of the agreement with Mr. Daseke, the Company has agreed to re-nominate Mr. Daseke for election to the Board at the 2021 Annual Meeting and Mr. Daseke has agreed to support the Company’s Omnibus share plan and the Board at that annual meeting. The Company has also agreed to implement a stock buy-back program and to purchase at least three million shares of Daseke common stock on the timeline set forth in the agreement.

Brian Bonner, Chairman of the Board, commented, “We are pleased to have reached these agreements with Lyons Capital and with Mr. Daseke. We look forward to continuing our constructive relationship with these two large shareholders and appreciate their support for continuing our improvement initiatives and the execution of our current strategy.”

Mr. Bonner continued, “On behalf of the Board, I would also like to welcome Grant Garbers to Daseke. Grant has significant transportation knowledge and experience, having served as a special advisor and board member of the Roadmaster Group, which was acquired by Daseke in late 2017. Grant’s industry expertise and his extensive capital markets experience will be valuable to the Board as we continue to execute on our strategy and deliver returns for our shareholders.”

“I am very excited to join the Daseke Board,” said Grant Garbers. “Daseke’s business momentum is clear, its operating businesses are performing well, and I believe Daseke will further extend its leadership position in the coming years. I look forward to contributing to Daseke’s growth, as the company works to achieve its vision.”

Mr. Bonner said, “The Board and I believe Daseke is extremely well positioned to grow and succeed in 2021 and beyond. We are thankful for Kevin’s contributions to Daseke’s recent performance and strategy development.”

The cooperation agreements with Lyons Capital and Mr. Daseke contain, among other provisions, standstill and voting covenants and will be included as exhibits to the Company’s Current Report on Form 8-K to be filed with the Securities and Exchange Commission (the “SEC”). Further details regarding the 2021 Annual Meeting will be included in the Company’s definitive proxy materials, which will be filed with the SEC and provided to all Daseke shareholders at a later date.

Other Developments

Separately, the Company announced the retirement of its Chief Executive Officer, Christopher Easter, today and indicated that the Company anticipates its financial and operational performance during Q4 2020 to be in-line with analyst consensus estimates. More information concerning these developments are available in a separate press release issued this morning and will be included in the Company’s Current Report on Form 8-K to be filed with the SEC.

About Grant Garbers

Grant Garbers has been a Managing Director of Harrison Co., a middle market investment banking firm, since June of 2020. Prior to that, Mr. Garbers spent the past 13 years with Capstone Headwaters and its predecessor company Headwaters MB as a Managing Director in its Industrial Technology Practice with the same responsibilities. Mr. Garbers has served both private and public companies across a diverse group of industries such as transportation, medical, consumer products and industrial technology. Mr. Garbers started his career in risk management at Fred S. James before entering the financial services sector. Mr. Garbers served as an independent director of Roadmaster Group, Inc. from 2010 to December of 2017 when it was acquired by Daseke, Inc. Mr. Garbers holds a B.B.A. degree from The University of Georgia and successfully completed the Mergers and Acquisitions Executive Education Program at the Wharton School of Business.

About Daseke, Inc.

Daseke, Inc. is the largest flatbed and specialized transportation and logistics company in North America. Daseke offers comprehensive, best-in-class services to many of the world’s most respected industrial shippers through experienced people, a fleet of more than 5,000 tractors and 11,500 flatbed and specialized trailers. For more information, please visit www.daseke.com.

https://www.globenewswire.com/news-release/2021/01/05/2153448/0/en/Daseke-Announces-Cooperation-Agreements-with-Lyons-Capital-and-Don-Daseke.html

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences