Roadrunner Transportation Systems Receives Notice from NYSE Regarding Share Price Continued Listing Standard
October 18 2018 - 4:30PM
Business Wire
Roadrunner Transportation Systems, Inc. (“Roadrunner” or the
“company”) (NYSE: RRTS), a leading asset-right transportation and
asset-light logistics service provider, announced today that it
received notice from the New York Stock Exchange (the “NYSE”) on
October 12, 2018 that the company had fallen below the NYSE’s
continued listing standard related to price criteria for common
stock, which requires the average closing price of the company’s
common stock to equal at least $1.00 per share over a 30
consecutive trading day period. In accordance with NYSE procedures,
the company has timely notified the NYSE that the company intends
to cure the deficiency and regain compliance with the continued
listing standard.
The company has six months from its receipt of the notice to
regain compliance with the listing standard. The company can regain
compliance with the standard if, on the last trading day of any
calendar month during the six-month period following receipt of the
notice or on April 12, 2019, which is the date that is six months
following receipt of the notice, the company’s common stock has a
closing price of at least $1.00 per share and an average closing
price of at least $1.00 per share over the previous 30 consecutive
trading day period.
During the six-month cure period, the company’s shares of common
stock will continue to be listed and traded on the NYSE, subject to
the company’s compliance with other listing standards. The NYSE
notification does not affect the company’s business operations or
its SEC reporting requirements.
About Roadrunner Transportation Systems, Inc.
Roadrunner Transportation Systems is a leading asset-right
transportation and asset-light logistics service provider offering
a full suite of solutions under the Roadrunner®, Active On-Demand®
and Ascent Global Logistics® brands. The Roadrunner brand offers
less-than-truckload, temperature controlled and intermodal
services. Active On-Demand offers premium mission critical air and
ground transportation solutions. Ascent Global Logistics offers
domestic freight management, retail consolidation, international
freight forwarding and customs brokerage. For more information,
please visit Roadrunner’s
websites, www.rrts.com and www.ascentgl.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which relate to future events, performance, and strategic
initiatives. Forward-looking statements also include, among other
things, statements regarding the company’s intention to cure the
deficiency and regain compliance with the continued listing
standard; whether the company’s shares will continue to trade on
the NYSE; and effects of the NYSE notification on the company’s SEC
reporting and business operations. These statements are often, but
not always, made through the use of words or phrases such as “may,”
“will,” “anticipate,” “estimate,” “plan,” “project,” “continuing,”
“ongoing,” “expect,” “believe,” “intend,” “predict,” “potential,”
“opportunity,” and similar words or phrases or the negatives of
these words or phrases. These forward-looking statements are based
on Roadrunner’s current assumptions, expectations, and beliefs and
are subject to substantial risks, estimates, assumptions,
uncertainties and changes in circumstances that may cause
Roadrunner’s actual results, performance, initiatives, or
achievements, to differ materially from those expressed or implied
in any forward-looking statement. Because the risks, estimates,
assumptions and uncertainties referred to above could cause actual
results or outcomes to differ materially from those expressed in
any forward-looking statements, you should not place undue reliance
on any forward-looking statements. Any forward-looking statement
speaks only as of the date hereof, and, except as required by law,
Roadrunner assumes no obligation and does not intend to update any
forward-looking statement to reflect events or circumstances after
the date hereof. For a full discussion of risks and uncertainties,
see the section entitled “Risk Factors” in Roadrunner’s
Registration Statement on Form S-1, filed with the SEC on September
19, 2018, and in Roadrunner’s Form 10-K for the fiscal year ended
December 31, 2017, filed with the SEC on June 20, 2018.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181018005808/en/
Reputation PartnersMarilyn Vollrath414-376-8834ir@rrts.com
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