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In an announcement today, Daseke Inc. has revealed the pricng of its Upsized Common Stock Public Offering. The countersigned public offering of 5,292,000 shares of its common stock which contains 4,882,167 shares of common stock by the business and 409,833 shares of common stock by a couple of the corporation’s investors will be at $12.00 for each share.

From the initial offering size of 4,000,167 shares of common stock, the quantity of shares of common stock offered by the Company was upgraded to 4,882,167 shares of common stock.  However, The amount of shares of common stock offered by some of the Company’s investors was untouched from the primary offering size of 409,833.

After countersigning the concessions and directives before the expected offering expenses, Daseke’s total net proceeds will be roughly around $55.4 million and nearly $4.6 million to the marketing investors. The Company has granted the underwriters a 30-day option to purchase up to an additional 793,800 shares of the Company’s common stock. The offering is expected to close on September 22, 2017, subject to customary closing conditions.

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"Daseke, Inc. is the largest owner and a leading consolidator of flatbed, and specialized transportation and logistics solutions."

Daseke intends to apply the garnered net proceeds from the offering for general corporate objectives. This comprises of working capital, capital expenditures, debt repayment or refinancing and the funding of conceivable forthcoming acquisitions. The business will not obtain whichever of the proceeds from the sale of the shares of common stock by the hawking investors.

The acting joint book-running managers for the offering are Stifel, Nicolaus & Company, Incorporated and Cowen and Company, LLC while the stand-in principal executive for the offering and Northland Capital Markets is acting as co-manager for the offering is Craig-Hallum Capital Group LLC.

Trading Performance

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At the time of writing, Daseke Inc. added 0.77% in its recent trades while adding another candle to safely assume that it is facing a bullish trend.

The Relative Strength Index of the car company is close to touching the 70’s region. At 63.25, the uptrend might continue beyond the 70’s region in which may label the stock as an overbought one.

Despite being in the negative region, the Coppock curve of Daseke is indicating an uptrend. While at -1.54, the stock may soon continue trending to the positive region to indicate a buy for the stock. But for now a hold on any position would be advised.

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