Hudson Capital Inc. (NASDAQ: HUSN) (Hudson Capital) announced that
Freight App, Inc. (Fr8App), a North American transportation
logistics technology platform company focused on US-Mexico
cross-border shipping with which Hudson Capital has a merger
agreement, launched a new technology solution for committed
capacity planning called Fr8PrivateFleet and secured its first
contract with Kimberly Clark de Mexico, S.A.B. de C.V., a Mexican
stock exchange listed company with 2021 revenues of $46.9 billion
pesos, or approximately USD$2.3 billion.
Javier Selgas, CEO of Fr8App, said, “At Fr8App, we
create technology solutions that contribute to our customers’
success by improving their efficiency and profitability. We are
thrilled to unveil our latest offering, Fr8PrivateFleet, which
matches carriers with the capacity to provide certain amounts of
carriage services over time rather than on a trip-by-trip basis.
Our new technology solution for committed capacity planning enables
participating carriers to have a steady stream of revenue while
solving shippers’ need to secure freight capacity over time,
especially in today’s tight market.
“We are proud to have signed Kimberly Clark de
Mexico, a leading public company in Mexico, as our first
Fr8PrivateFleet customer, as we believe it validates our product,
which has the potential to increase the active use of our platform
by participating carriers. We expect this additional revenue stream
to expand our growth opportunities in 2022. As a leader in
transportation logistics technology, Fr8App is setting standards
for solutions today and is well-positioned to enhance the future
success of our carrier and shipper partners,” concluded Selgas.
About Kimberly-Clark de México, S.A.B. de
C.V. Kimberly-Clark de México, S.A.B. de C.V. (KIMBERA.MX)
is a Mexican company that manufactures and commercializes branded
consumer products such as diapers, feminine pads, bath tissue,
napkins, facial tissue, paper towels, wet wipes and soap. It is a
market leader in almost all of its categories with brands such as
Huggies, Kleen-Bebé, Kleenex, Kimlark, Pétalo, Cottonelle, Depend,
Kotex, Evenflo and Escudo.
About Freight App,
Inc.Freight App, Inc. (Fr8App), formerly known as
FreightHub, Inc., makes shipping simple, transparent, and
efficient. A transportation logistics technology platform company,
Fr8App focuses on truckload freight for domestic and cross-border
markets in Mexico, the US and Canada. As an innovative digital
freight marketplace, broker, transportation management system (TMS)
and public API, Fr8App uses its proprietary technology platform to
connect carriers and shippers that significantly improves matching
and operation efficiency via innovative technologies such as live
pricing and real-time tracking.
About Hudson Capital
Inc.Incorporated in 2014, Hudson Capital Inc. (formerly
known as China Internet Nationwide Financial Services Inc. (NASDAQ:
HUSN)) commenced its business by providing financial advisory
services to small and medium size companies. The traditional
business segments include commercial payment advisory, intermediary
bank loan advisory and international corporate financing advisory
services which help clients to meet their commercial payment and
investment needs. For more information, about Hudson Capital,
please see the documents filed by Hudson Capital with the SEC at
www.sec.gov. In connection with the proposed merger, Hudson Capital
has filed a Form 6-K on December 14 and December 30, 2021.
Forward Looking StatementsThis
press release includes “forward-looking statements” within the
meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Hudson Capital’s
and Fr8App’s actual results may differ from their expectations,
estimates, and projections and, consequently, you should not rely
on these forward-looking statements as predictions of future
events. Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believes,” “predicts,” “potential,” “continue,” and
similar expressions (or the negative versions of such words or
expressions) are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, Hudson Capital’s and Fr8App’s expectations with respect
to future performance and anticipated financial impacts of the
proposed acquisition, the satisfaction of the closing conditions to
the proposed acquisition, and the timing of the completion of the
proposed acquisition.
These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from those discussed in the
forward-looking statements. Most of these factors are outside
Hudson Capital’s and Fr8App’s control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (1) the occurrence of any event, change, or other
circumstances that could give rise to the termination of the
definitive merger agreement (the “Agreement”); (2) the outcome of
any legal proceedings that may be instituted against Hudson Capital
or Fr8App following the announcement of the Agreement and the
transactions contemplated therein; (3) the inability to complete
the proposed acquisition, including due to failure to obtain
regulatory approval by Nasdaq, or satisfy other conditions to
closing in the Agreement; (4) the occurrence of any event, change,
or other circumstance that could give rise to the termination of
the Agreement or could otherwise cause the transaction to fail to
close; (5) the impact of COVID-19 pandemic on Fr8App’s business
and/or the ability of the parties to complete the proposed
acquisition; (6) the inability to obtain or maintain the listing of
Hudson Capital’s ordinary shares on Nasdaq following the proposed
merger; (7) the risk that the proposed acquisition disrupts current
plans and operations as a result of the announcement and
consummation of the proposed merger; (8) the ability to recognize
the anticipated benefits of the proposed merger, which may be
affected by, among other things, competition, the ability of Fr8App
to grow and manage growth profitably, and retain its key employees;
(9) costs related to the proposed merger; (10) changes in
applicable laws or regulations; (11) the possibility that Hudson
Capital or Fr8App may be adversely affected by other economic,
business, and/or competitive factors; (12) risks relating to the
uncertainty of the projected financial information with respect to
Fr8App; (13) risks related to the organic and inorganic growth of
Fr8App’s business and the timing of expected business milestones;
and (14) other risks and uncertainties indicated from time to time
in the filings with the SEC. Hudson Capital cautions that the
foregoing list of factors is not exclusive. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by such forward-looking
statements. Hudson Capital and Fr8App caution readers not to place
undue reliance upon any forward-looking statements, which speak
only as of the date made. Hudson Capital and Fr8App do not
undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in their expectations or any change in
events, conditions, or circumstances on which any such statement is
based.
No Offer or SolicitationThis press
release shall not constitute a solicitation of a proxy, consent, or
authorization with respect to any securities or in respect of the
proposed merger. This press release shall also not constitute an
offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any states
or jurisdictions in which such offer, solicitation, or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended, or an exemption therefrom.
Fr8App Contact:Kirsten Chapman and
Dusty Buell, LHA Investor Relations, fr8app@lhai.com, (415)
433-3777
Hudson Capital Contact:Hon Man
Yun, Chief Financial Officer, man@hudsoncapitalusa.com, (852)
98047102
Hudson Capital (NASDAQ:HUSN)
Historical Stock Chart
From Apr 2024 to May 2024
Hudson Capital (NASDAQ:HUSN)
Historical Stock Chart
From May 2023 to May 2024