USA Truck Announces Completion of Sale to DB Schenker

Rhea-AI Summary

USA Truck has successfully completed its acquisition by DB Schenker, with each share of common stock converted to $31.72 in cash. Following this transaction, USA Truck’s stock is no longer traded on the NASDAQ Global Select Market. CEO James Reed expressed gratitude to employees and stakeholders for their efforts in enhancing shareholder value.

This acquisition positions DB Schenker to expand its logistics solutions across North America, leveraging USA Truck's capabilities in trucking and logistics services.

Positive

• Completion of acquisition by DB Schenker enhances logistics capabilities.
• Each share converted to $31.72 in cash provides immediate liquidity for shareholders.

Negative

• USA Truck's common stock is no longer trading on NASDAQ.

VAN BUREN, AR / ACCESSWIRE / September 15, 2022 / USA Truck, Inc. (NASDAQ:USAK) today announced the completion of its previously announced sale to DB Schenker, one of the world's leading logistics service providers.

Under the terms of the sale, each issued and outstanding share of USA Truck common stock converted into the right to receive $31.72 in cash. As a result of the completion of the sale, USA Truck's common stock ceased trading on the NASDAQ Global Select Market prior to market open today and will no longer be listed for trading on the NASDAQ Global Select Market.

"We are happy to complete this transaction," said James Reed, President and Chief Executive Officer of USA Truck. "I want to extend my appreciation to the USA Truck family of employees, our Board, and everyone associated with our company. We have worked together for a long time to put the company in position to deliver significant value for USA Truck's stockholders."

About USA Truck

USA Truck provides comprehensive capacity solutions to a broad and diverse customer base throughout North America. Our Trucking and USAT Logistics divisions blend an extensive portfolio of asset and asset-light services, offering a balanced approach to supply chain management, including customized truckload, dedicated contract carriage, intermodal, and third-party logistics freight management services.

About DB Schenker

With more than 76,500 employees at over 2,100 locations in more than 130 countries, DB Schenker is one of the world's leading logistics providers. The company operates land, air and ocean transportation services, and it also offers comprehensive solutions for logistics and global supply chain management from a single source. This year, the company is celebrating its 150^th anniversary.

For more information, go to www.dbschenkeramericas.com

Investors

Zachary King, EVP & CFO
(479) 471-2694
zachary.king@usa-truck.com

Michael Stephens, Investor Relations
(479) 471-2610
michael.stephens@usa-truck.com

SOURCE: USA Truck, Inc.

View source version on accesswire.com:
https://www.accesswire.com/716052/USA-Truck-Announces-Completion-of-Sale-to-DB-Schenker

FAQ

What was the acquisition price for USA Truck's stock?

USA Truck's common stock was converted into the right to receive $31.72 in cash.

When did USA Truck complete its sale to DB Schenker?

USA Truck completed its sale to DB Schenker on September 15, 2022.

What is the stock symbol for USA Truck?

The stock symbol for USA Truck is USAK.

Why is USA Truck no longer listed on NASDAQ?

USA Truck ceased trading on NASDAQ due to the completion of its acquisition by DB Schenker.