GSQD - GSQD STOCK NEWS

G Squared Ascend I (NYSE: GSQD.U, GSQD, GSQD.W) announced it will redeem all outstanding Class A ordinary shares as of February 9, 2023, due to failure to complete an initial business combination. The per-share redemption price will be approximately $10.18, based on a Trust Account balance of around $351 million as of January 23, 2023. The Company will cease operations post-redemption, except for winding up, and expects to file for delisting with the U.S. SEC. No redemption rights will apply to warrants, which will expire worthless. The sponsor has waived redemption rights for Class B shares.

G Squared Ascend I (NYSE: GSQD) and Transfix, Inc. have mutually terminated their business combination agreement due to unfavorable public market conditions. Concurrently, G Squared and NEA will lead a private investment round to support Transfix's growth. Larry Aschebrook from G Squared will join Transfix's Board of Directors. Transfix's CEO, Lily Shen, emphasizes the importance of this funding for technology and innovation. Both firms express confidence in Transfix's future, highlighting its significant role in modernizing supply chains through AI-driven solutions.

Transfix has announced a new API connectivity with e2open's Transportation Management System (TMS), allowing shippers to access real-time and spot market rates effortlessly. This integration enables shippers to connect with Transfix's network of full truckload carriers, improving efficiency and reducing manual processes. The Real-Time Rating (RTR) API and Spot Market API simplify pricing visibility and accelerate the booking process. Transfix is set to become a publicly listed company through a merger with G Squared Ascend I, enhancing its visibility in the market.

Transfix, the Intelligent Freight Platform™, announced new features for its Fleet Management System (FMS) aimed at improving carrier efficiency and better load management. Key updates include Dedicated Freight Management, a Digital Negotiation Experience, and enhanced Load Insights. These enhancements provide carriers with improved visibility and efficiency in booking freight and negotiating rates, potentially shielding them from market volatility. The updates are live, supporting Transfix's commitment to innovation within the supply chain sector.

Transfix has appointed Tony Tzeng as its first Chief Product Officer to enhance its Intelligent Freight Platform, focusing on product strategy and innovation. Tzeng brings over 20 years of experience in enterprise AI, previously serving at UiPath and Microsoft. His leadership aims to accelerate Transfix's goal of transforming supply chain operations. Currently, Transfix is in a business combination agreement with G Squared Ascend I (NYSE: GSQD), which will take the company public, subject to customary closing conditions.

Transfix has joined the World Economic Forum's Global Innovators Community, focusing on the Road Freight Zero Initiative aimed at deploying zero-emission fleets by 2030. CEO Lily Shen emphasized the importance of reducing carbon emissions for a sustainable future. The Transfix Intelligent Freight Platform combines machine-learning technology with expert knowledge to improve supply chains. As of September 2021, Transfix is in a business combination agreement with G Squared Ascend I (NYSE: GSQD), expected to lead to its public listing, pending closing conditions.

Transfix has announced a beta program for its new sourcing optimization tool, aimed at modernizing freight procurement. This innovative solution utilizes nearly a decade of data and machine learning to help shippers make informed decisions on carrier commitments, enhancing efficiency and reliability. By providing recommendations for various purchasing options, including existing contracts and dynamic cost-plus pricing, the tool promises to streamline the procurement process significantly. The launch is set for May 9, 2022, during the FreightWaves Future of Supply Chain Conference.

Transfix, Inc. announced record financial results for Q1 2022, achieving total revenue of $90 million, a 50% increase year-over-year. Gross profit rose by 28% to $6.0 million, while adjusted gross profit increased 34% to $6.6 million. The company emphasized its investment in team and technology to enhance partnerships with shippers and carriers, helping navigate supply chain volatility. Transfix also appointed Matt Butler as VP of New Business and welcomed Jeffrey Immelt to its Board. The business combination with G Squared Ascend I Inc. is on track to make Transfix publicly listed.