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Roadrunner Freight
Roadrunner $50M equity raise led by GlobalTranz, Emerge founder Leto
Roadrunner (OTC: RRTS) announced Thursday it recently closed an equity private placement for $50 million. The round was led by a $10 million investment from Andrew Leto, who founded third-party transportation providers GlobalTranz and Emerge.
The proceeds are expected to be used for technology investments centered on “planning, pricing and efficiency.” The company will also use the funds to bolster its leadership roster and improve service.
“Roadrunner is really a technology moving trucks, not a...
https://s29755.pcdn.co/news/roadrunner-50m-equity-raise-led-by-globaltranz-emerge-founder-leto
Roadrunner breakup; refocus moves forward
Roadrunner Transportation Systems Inc. (OTC: RRTS) announced plans to spin-off its Ascent Global Logistics unit in August. The planned deal would create two separate companies – Roadrunner Transportation Systems, Inc. with less-than-truckload (LTL) and truckload (TL) freight divisions and privately-held Ascent Global Logistics, Inc.
While the company’s new capital structure hasn’t been finalized, Roadrunner’s credit facility with BMO Harris Bank (NYSE: BMO) will be terminated and the entity is...
https://www.freightwaves.com/news/roadrunner-breakup-refocus-moves-forward