Form 8-K - Current report
23 Enero 2024 - 3:02PM
Edgar (US Regulatory)
0001177702false00011777022024-01-172024-01-17
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): January 17, 2024 |
SAIA, INC.
(Exact name of Registrant as Specified in Its Charter)
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Delaware |
0-49983 |
48-1229851 |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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11465 Johns Creek Parkway Suite 400 |
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Johns Creek, Georgia |
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30097 |
(Address of Principal Executive Offices) |
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(Zip Code) |
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Registrant’s Telephone Number, Including Area Code: 770 232-5067 |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s) |
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Name of each exchange on which registered
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Common Stock, par value $.001 per share |
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SAIA |
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Nasdaq Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On January 17, 2024, Saia, Inc., through its wholly owned subsidiary, Saia Motor Freight Line, LLC (the “Purchaser”), completed the acquisition of 17 freight terminals of Yellow Corporation and certain of its subsidiaries (collectively, “Yellow”) for an aggregate purchase price of $235.7 million in cash (the “Yellow Real Estate Acquisition”). These freight terminals are located in the following markets: Fresno, California; Seaford, Delaware; Augusta, Georgia; Bowling Green, Kentucky; Paducah, Kentucky; West Boston, Massachusetts; Grand Rapids, Michigan; Grayling, Michigan; Duluth, Minnesota; Owatonna, Minnesota; Trenton, New Jersey; Rochester, New York; Akron, Ohio; Youngstown, Ohio; Reading, Pennsylvania; Knoxville, Tennessee; and Laredo, Texas.
The Yellow Real Estate Acquisition was consummated pursuant to an Asset Purchase Agreement, dated December 5, 2023, among Saia, Inc., the Purchaser and Yellow (the “Purchase Agreement”), a copy of which was filed as Exhibit 2.1 to a Current Report on Form 8-K, dated December 11, 2023.
In addition to the Yellow Real Estate Acquisition, on January 17, 2024, the Purchaser completed the acquisition of Yellow’s interests in leases for 11 freight terminals (the “Yellow Leases”) for an aggregate purchase price of $7.9 million in cash, plus the assumption of certain liabilities under the Yellow Leases and the payment of cure costs required to be paid pursuant to Chapter 11 of Title 11 of the U.S. Code (the “Bankruptcy Code”). The Yellow Leases are for freight terminals located in the following markets: Orange, California; Billings, Montana; Butte, Montana; Missoula, Montana; Las Vegas, Nevada; Bismarck, North Dakota; Rapid City, South Dakota; Watertown, South Dakota; St. George, Utah; Cheyenne, Wyoming; and Evansville, Wyoming.
The Yellow Real Estate Acquisition and the purchase of the Yellow Leases were completed under Section 363 and 365 of the Bankruptcy Code and were confirmed by orders of the U.S. Bankruptcy Court for the District of Delaware.
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Item 9.01 |
Financial Statements and Exhibits |
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104 |
Cover Page Interactive Date File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SAIA, INC. |
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Date: January 23, 2024 |
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/s/ Kelly W. Benton |
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Kelly W. Benton |
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Vice President and Chief Accounting Officer (Principal Accounting Officer) |
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Jan. 17, 2024 |
Cover [Abstract] |
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Jan. 17, 2024
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Entity Registrant Name |
SAIA, INC.
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Entity Central Index Key |
0001177702
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Entity Emerging Growth Company |
false
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Entity File Number |
0-49983
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Entity Incorporation, State or Country Code |
DE
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Entity Tax Identification Number |
48-1229851
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Entity Address, Address Line One |
11465 Johns Creek Parkway
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Entity Address, Address Line Two |
Suite 400
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Entity Address, City or Town |
Johns Creek
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Entity Address, State or Province |
GA
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Entity Address, Postal Zip Code |
30097
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City Area Code |
770
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Local Phone Number |
232-5067
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Entity Information, Former Legal or Registered Name |
No Changes.
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Common Stock, par value $.001 per share
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Trading Symbol |
SAIA
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NASDAQ
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