Daseke Inc (DSKE)

[Enterprising Investor]

Daseke Announces Stock Repurchase Program (3/22/21)

Buyback authorization allows for opportunistic cash deployment as part of its balanced capital allocation strategy

ADDISON, Texas, March 22, 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 its Board of Directors has approved a stock repurchase program under which the Company is authorized to repurchase up to 3,000,000 shares of its outstanding common stock.

The shares may be repurchased from time to time in open market transactions at prevailing market prices or by other means in accordance with federal securities laws and may be repurchased pursuant to a Rule 10b5-1 trading plan. The Company intends to fund repurchases from cash on hand.

The timing, as well as the number and value of shares repurchased under the program, will be determined by management at its discretion and will depend on a number of factors, including the market price of the Company’s common stock, general market and economic conditions and applicable legal requirements. The program may be suspended, modified or discontinued by the Board at any time without prior notice.

Jason Bates, Chief Financial Officer of Daseke commented, “As part of our commitment to generating strong returns and returning value to our shareholders and pursuant to the Company’s previously announced cooperation agreement with Don Daseke, the Company’s Board of Directors has authorized a share repurchase program to repurchase up to three million public shares. Daseke’s recent performance has demonstrated the strong cash flow generative nature of our unique platform. With the recent refinancing transaction now complete, the Company is in a strong position to utilize excess cash to opportunistically repurchase public shares. We will maintain a disciplined and balanced approach to capital allocation over the long-term, with a keen focus on value creation as we continue to balance our decisions between investing for growth, leverage reduction and balance sheet optimization, and/or through opportunistic share repurchases.”

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/2021/03/22/2197233/0/en/Daseke-Announces-Stock-Repurchase-Program.html