Daseke, Inc. Becomes a Public Company, Trading
on Nasdaq Under Ticker “DSKE” to Commence on February 28, 2017
Daseke, Inc. (“Daseke”) and Hennessy Capital Acquisition Corp.
II (NASDAQ: HCAC, HCACU, HCACW) (“HCAC” or the “Company”) today
announced the closing of their previously announced business
combination. The merger was approved at HCAC’s special meeting of
stockholders held earlier today. As part of the transaction, HCAC
changed its name to Daseke, Inc. As a result, the Company expects
that, effective Feb. 28, 2017, the Company’s common stock and
warrants will begin trading under the ticker symbols “DSKE” and
“DSKEW,” respectively, on the Nasdaq Capital Market.
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Daseke is a leading consolidator of the highly fragmented $133
billion open deck freight market in North America. Since its first
year of operations in 2009, Daseke has grown revenue both
organically and through acquisitions from $30 million to more than
$650 million estimated in 2016, representing a compound annual
growth rate of approximately 55 percent. Daseke believes it is the
largest owner of open deck equipment and the second largest
provider of open deck transportation and logistics solutions by
revenue in North America.
Don Daseke, Chairman and CEO of Daseke, Inc., stated, “Our
vision from the start was to become a public company so we could
have access to the capital markets in order to continue our focused
consolidation strategy. We believe we have an acquisition pipeline
that could enable us to double Daseke’s adjusted earnings before
interest, tax, depreciation and amortization over the next three
years, and we believe this business combination positions us to
meet our 2017 consolidation objectives. Daseke has less than a 1
percent share of this highly fragmented open deck freight market,
and we believe we have a tremendous opportunity for future growth
and continued market penetration.
“From the beginning, our plan was to have a stock program for
all of our employees, including an industry-first public stock plan
for our company drivers,” Daseke said. “They have a very tough job,
and we respect them greatly. Giving our people the opportunity to
be owners in Daseke is a great day for me on a very personal level.
We are just now making it to first base in our strategy to build
the premier specialized, open deck transportation company in North
America. We could not have chosen a better partner than the team at
HCAC and are excited to become a Nasdaq-listed public company.”
“We are extremely proud to join forces with Daseke, the first
trucking company to go public since 2010,” said Dan Hennessy,
Chairman and CEO of Hennessy Capital Acquisition Corp II. “We have
made a powerful combination: HCAC’s industrial focus and capital
market expertise is now coupled with Daseke’s experienced
management team and their consistent track record of successfully
consolidating the open deck specialized transportation market. We
look forward to assisting in Daseke’s continued growth as directors
of the combined company.”
With the closing of the business combination, HCAC Chairman and
CEO Daniel J. Hennessy and President, COO and director Kevin
Charlton have joined the board of directors of the combined
company. The board now consists of eight members, including Daseke
Chairman and CEO Don Daseke and Executive Vice President and CFO
Scott Wheeler, as well as four additional independent
directors.
Hennessy Capital Acquisition Corp. II was advised on the
transaction by Stifel, UBS Investment Bank, Cantor Fitzgerald &
Co., BMO Capital Markets and XMS Capital Partners, LLC, with Sidley
Austin LLP and Ellenoff Grossman & Schole LLP as legal counsel.
Daseke was advised by Cowen and Company with Vinson & Elkins
LLP as legal counsel.
About Daseke, Inc.
Daseke is a leading consolidator of the highly fragmented $133
billion open deck freight market in North America. Daseke believes
it is the largest owner of open deck equipment and the second
largest provider of open deck transportation and logistics
solutions by revenue in North America, with a fleet of
approximately 3,000 tractors and 6,000 trailers. Daseke serves
industrial customers in the U.S., Canada and Mexico through more
than 40 terminals across the U.S.
About Hennessy Capital Acquisition Corp.
II
Hennessy Capital Acquisition Corp. II is a special purpose
acquisition company (SPAC) founded by Daniel J. Hennessy for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. The company's acquisition
and value creation strategy is to identify, acquire and, after its
initial business combination, build an industrial manufacturing,
distribution or services business. The HCAC management team brought
Blue Bird Corporation public in 2015.
Forward‐Looking Statements
This news release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“estimate,” “plan,” “project,” “forecast,” “intend,” “expect,”
“anticipate,” “believe,” “seek,” “target” or other similar
expressions that predict or indicate future events or trends, or
that are not statements of historical matters. Such forward-looking
statements with respect to the benefits of the business
combination, the future financial performance of HCAC following the
business combination, changes in the market for Daseke’s services,
and expansion plans and opportunities, including future acquisition
or additional business combinations are based on current
information and expectations, forecasts and assumptions, and
involve a number of judgments, risks and uncertainties.
Accordingly, forward-looking statements should not be relied upon
as representing HCAC’s views as of any subsequent date, and HCAC
does not undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws. Undue reliance should not be placed on these forward-looking
statements. As a result of a number of known and unknown risks and
uncertainties, actual results or performance may be materially
different from those expressed or implied by these forward-looking
statements. Some factors that could cause actual results to differ
include, but are not limited to: (1) the outcome of any legal
proceedings that may be instituted against Daseke or HCAC following
announcement of the business combination and related transactions;
(2) the ability to maintain the listing of HCAC’s common stock on
the Nasdaq Capital Market following the business combination; (3)
the ability to recognize the anticipated benefits of the business
combination, which may be affected by, among other things,
competition and the ability of the combined business to grow and
manage growth profitably; (4) changes in applicable laws or
regulations; (5) the possibility that Daseke or HCAC may be
adversely affected by other economic, business, and/or competitive
factors; and (6) other risks and uncertainties indicated from time
to time in the definitive proxy statement filed by HCAC in
connection with the business combination, including those under
“Risk Factors” therein, and other factors identified in HCAC’s
prior and future filings with the SEC, available at
www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20170227006198/en/
Halliburton Investor Relations & CommunicationsGeralyn
DeBusk, 972-458-8000817-797-9016 MobileDaseke@HalliburtonIR.com
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