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Usa Truck Enters Into New Cooperation Agreements With Baker Street And Stone House - Yahoo Finance

http://nicollehag.soup.io 18 hours ago Done VAN BUREN, Ark.--(BUSINESS WIRE)-- USA Truck, Inc. ( USAK ), a leading North American transportation and logistics provider, announced today that it has entered into a cooperation agreement with each of Baker Kim Kardashian Street Capital, LLC and Stone House Capital http://gyxitaanpr6.jimdo.com Management, LLC, and certain of their affiliates (the 2015 Cooperation Agreements). The 2015 Cooperation Agreements extend many of the provisions set forth in the existing cooperation agreement with Baker Street and Stone House from May of 2014 (the 2014 Cooperation Agreement). Under the 2015 Cooperation Agreements, USA Truck has agreed to file a registration statement at the request of Baker Street and Stone House in respect of up to 2,000,000 shares of its common stock held by them and to nominate Vadim Perelman, Thomas Glaser, and Gary Enzor for re-election to USA Trucks board of directors as Class II directors (term expiring May 2018) at the 2015 annual meeting of stockholders. USA Truck will not sell in the offering any shares other than those registered by Baker Street and Stone House. In exchange, Baker Street and Stone House have agreed to (i) vote in accordance with the recommendations of USA Trucks board of directors at the Companys 2015 annual meeting of stockholders except with respect to certain extraordinary transactions and, in certain circumstances, the 2016 annual meeting of stockholders; (ii) abide by standstill provisions similar to those in the 2014 Cooperation Agreement during the period ending 10 days prior to the deadline for submission of stockholder nominations for the 2016 annual meeting of stockholders, which period may, in certain circumstances, be extended for an additional year; and (iii) pay certain expenses relating to the sale of shares (including the applicable discounts and commissions and a portion of road show and other expenses). In the future, if shares beneficially owned by Baker Street fall below (i) 10% of the outstanding shares of the Company as a result of sales completed under the registration statement or (ii) 50% of the aggregate number of shares currently owned by Baker Street, then Vadim Perelman will tender his resignation from the board of directors. Once the registration statement is declared effective, the Company anticipates conducting a road show with respect to the Baker Street and Stone House shares. We are pleased to have reached agreements with Baker Street and Stone House, said USA Truck Chairman Robert A.
More: http://finance.yahoo.com/news/usa-truck-enters-cooperation-agreements-105000107.html

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