- Roadrunner Freight (OTCPK:RRTS) closed a $50M equity private placement led by Andrew Leto, founder of GlobalTranz and Emerge, who invested $10M and is joining the company board as independent directors.
- Net proceeds are expected to be used for investment in the development of technology underpinning operations, specifically around planning, pricing and efficiency, and to recruit and retain top talent; also plans to continue investing in service improvements.
- Kevin Shuba, recently departed CEO of OmniTRAX, also joined Roadrunner board as an independent director.
- Dave Ross, former Managing Director and Group Head of Stifel's Global Transportation and Logistics Equity Research practice, has been named Partner and EVP for Roadrunner.
- The company operated January and February with record level on-time delivery rates and the lowest exceptions in company history; with continued service improvements, Roadrunner will be launching a guaranteed service offering in select lanes by the end of spring 2021.