Daseke Inc. Plans Sale of 7.42 Million Shares
Daseke Inc. announced it will sell 7.42 million shares of common stock, including 80,000 shares by one of the company’s stockholders, for $10.60 per share.
The Addison, Texas-based company said it expects to receive approximately $74.1 million from the sale, which is the first new stock offering since Daseke became a publicly owned company through a merger with Hennessy Capital Acquisition Corp. in February 2017. The company has a total of 48.6 million shares outstanding, and its stock is traded on the Nasdaq National Market.
The price of Daseke shares has fluctuated between $14.52 and $8.76 a share over the past year.
In a filing with the U.S. Securities and Exchange Commission, Daseke said it will use proceeds from the sale of stock for general corporate purposes, which could include capital expenditures, debt repayment or financing of possible future acquisitions.
The selling shareholder, who was not identified, will receive about $800,000 from the sale, which is expected to close Feb. 20.
The company also has granted a 30-day option to sell an additional 1,125,000 shares to underwriters with Cowan and Co. and Stifel, Nicolaus & Co. acting as joint book-running managers for the stock offering, Craig-Hallum Capital Group as lead manager and Northland Capital Markets as co-manager.
