ADDISON, Texas, March 22, 2021 (Globe NEWSWIRE) — Daseke, Inc. (NASDAQ: DSKE) (“Daseke” or the “Company”), the major flatbed, specialised transportation and logistics methods company in North The us, introduced nowadays that its Board of Administrators has authorised a inventory repurchase application less than which the Corporation is authorized to repurchase up to 3,000,000 shares of its fantastic prevalent stock.
The shares may perhaps be repurchased from time to time in open current market transactions at prevailing market costs or by other signifies in accordance with federal securities rules and may possibly be repurchased pursuant to a Rule 10b5-1 investing prepare. The Enterprise intends to fund repurchases from hard cash on hand.
The timing, as effectively as the number and worth of shares repurchased below the application, will be established by management at its discretion and will rely on a range of things, including the sector value of the Company’s widespread stock, common sector and financial ailments and applicable legal needs. The plan may be suspended, modified or discontinued by the Board at any time without prior discover.
Jason Bates, Chief Economic Officer of Daseke commented, “As component of our determination to producing strong returns and returning worth to our shareholders and pursuant to the Company’s formerly declared cooperation settlement with Don Daseke, the Company’s Board of Directors has authorized a share repurchase plan to repurchase up to a few million public shares. Daseke’s new functionality has shown the strong money stream generative nature of our distinctive system. With the the latest refinancing transaction now total, the Company is in a solid situation to employ excess cash to opportunistically repurchase community shares. We will maintain a disciplined and balanced technique to cash allocation in excess of the extensive-expression, with a eager focus on price creation as we go on to equilibrium our selections involving investing for advancement, leverage reduction and harmony sheet optimization, and/or by way of opportunistic share repurchases.”
About Daseke, Inc.
Daseke, Inc. is the most significant flatbed and specialised transportation and logistics business in North America. Daseke delivers detailed, best-in-course solutions to quite a few of the world’s most revered industrial shippers via expert individuals, a fleet of more than 5,000 tractors and 11,500 flatbed and specialized trailers. For additional data, please pay a visit to www.daseke.com.
This information launch is made up of “forward-seeking statements” in the this means of the Non-public Securities Litigation Reform Act of 1995. Ahead-hunting statements may well be determined by the use of words and phrases these types of as “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “believe,” “plan,” “should,” “could,” “would,” “forecast,” “seek,” “target,” “predict,” and “potential,” the adverse of these terms, or other similar terminology. These ahead-looking statements are based mostly on information and facts available as of the date of this release, and existing expectations, forecasts and assumptions. Although management believes that these ahead-hunting statements are fair as and when made, there can be no assurance that future developments affecting us will be these that the Organization anticipates. Appropriately, forward-on the lookout statements should really not be relied upon as representing the Company’s sights as of any subsequent day, and the Firm does not undertake any obligation to update forward-on the lookout statements to reflect functions or situation following the date they ended up created, no matter if as a end result of new info, long term gatherings or otherwise, apart from as may possibly be demanded under relevant securities legal guidelines. Appropriately, audience are cautioned not to place undue reliance on the forward-hunting statements.
Ahead-searching statements are matter to challenges and uncertainties (several of which are outside of our manage) that could lead to actual effects or outcomes to differ materially from all those indicated by this sort of forward-on the lookout statements. These components include things like, but are not restricted to, common financial and business enterprise hazards, this sort of as downturns in customers’ small business cycles and disruptions in funds and credit rating markets, the impact to the Company’s enterprise and functions resulting from the COVID-19 pandemic, the Company’s ability to execute and know all of the expected rewards of its integration, enterprise enhancement and comprehensive restructuring designs, the Company’s skill to finish prepared or long run divestitures productively, the Company’s potential to adequately tackle downward pricing and other aggressive pressures, driver shortages and boosts in driver compensation or operator-operator contracted charges, loss of senior administration or essential working personnel, our ability to comprehend intended positive aspects from its new or long term acquisitions, seasonality and the influence of climate and other catastrophic events, fluctuations in the rate or availability of diesel gas, amplified selling prices for, or decreases in the availability of, new earnings machines and decreases in the price of applied revenue equipment, the Company’s ability to generate enough funds to assistance all of the Company’s indebtedness, limitations in its current and future personal debt agreements, improves in desire charges, variations in present regulations or polices, such as environmental and worker well being basic safety guidelines and polices and people relating to tax charges or taxes in basic, the impact of governmental rules and other governmental actions connected to the Enterprise and its operations, litigation and governmental proceedings, and insurance and statements fees. You must not put undue reliance on these forward-on the lookout statements. For supplemental details concerning recognised content things that could lead to our true outcomes to vary from individuals expressed in forward-searching statements, make sure you see Daseke’s filings with the Securities and Trade Fee, available at www.sec.gov, like Daseke’s most new yearly report on Sort 10-K, and subsequent quarterly reviews on Variety 10-Q, specifically the section titled “Risk Factors.”
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Joseph Caminiti or Chris Hodges