Daseke Confirms Expiration of Warrants

Rhea-AI Summary

Daseke, Inc. (NASDAQ: DSKE) announced that the common stock warrants issued in 2015 have expired as of February 27, 2022, following NASDAQ's suspension of trading on February 24, 2022. Out of 35,040,664 total warrants, 1,635,314 were exercised prior to expiration, generating $9,403,055.50 in proceeds and resulting in the issuance of 817,657 shares. The warrants allowed holders to purchase shares at $5.75 per half share, equating to $11.50 per whole share.

Positive

• The expiration of the warrants may streamline Daseke's capital structure.
• The company generated over $9 million from exercised warrants, enhancing liquidity.

Negative

• 35,040,664 warrants expiring could indicate limited interest in the company's stock.
• The suspension of trading may signal volatility or reduced investor confidence.

ADDISON, Texas, March 01, 2022 (GLOBE NEWSWIRE) -- Daseke, Inc. (NASDAQ: DSKE) (“Daseke” or the “Company”), the largest flatbed, specialized transportation and logistics solutions company in North America, confirmed today that the common stock warrants (“the warrants”) that were originally issued in 2015 in connection with its initial public offering, have expired in accordance with their terms, as of Sunday, February 27, 2022, and are no longer exercisable. NASDAQ suspended trading in the warrants on February 24, 2022, so that all outstanding trades could be settled by the expiration date. The Company had issued a total of 35,040,664 warrants. Each warrant entitled the holder to purchase one-half of one share of common stock at $5.75 per half share (or $11.50 per whole share of common stock).

Prior to the expiration date, 1,635,314 warrants were submitted for exercise, resulting in $9,403,055.50 in proceeds to the Company and 817,657 of new shares issued to the former warrant holders.

Holders of the expired warrants with questions should contact their broker or custodian through which they held the securities. Brokers and custodians may contact the warrant agent, Continental Stock Transfer & Trust Company, with any questions.

About Daseke, Inc.

Daseke, Inc. is the premier North American transportation solutions specialist dedicated to servicing challenging industrial end-markets. Daseke offers comprehensive, best-in-class services to a diversified portfolio of many of North America’s most respected industrial shippers. For more information, please visit www.daseke.com

Investor Relations:

Alpha IR Group
Joseph Caminiti or Chris Hodges
312-445-2870
DSKE@alpha-ir.com

FAQ

What happened to Daseke's stock warrants?

Daseke's stock warrants expired on February 27, 2022, after trading was suspended.

How many warrants were exercised before expiration?

1,635,314 warrants were exercised prior to their expiration.

What was the total value generated from the exercised warrants?

The exercised warrants generated $9,403,055.50 for Daseke.

What was the exercise price of the Daseke warrants?

Each warrant allowed the purchase of shares at $5.75 per half share.

What is the total number of Daseke warrants that expired?

A total of 35,040,664 warrants expired.