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
August 19, 1998
Date of Report (Date of earliest event reported)
CONSOLIDATED DELIVERY & LOGISTICS, INC.
(Exact name of Registrant as specified in its charter)
Delaware 0-26954 22-3350958
(State or other jurisdiction of Commission File (IRS Employer
incorporation or organization) Number) Identification No.)
380 Allwood Road, Clifton, New Jersey 07012
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) (973) 471-1005
NOT APPLICABLE
(Former name or former address, if changed since last report.)
<PAGE>
ITEM 5. Other Events
On August 19, 1998, Consolidated Delivery & Logistics, Inc. (the "Company")
announced that it has commenced a private placement for the proposed sale of $20
million senior subordinated notes with attached warrants to be used primarily to
fund the Company's acquisition program.
ITEM 7. Financial Statements and Exhibits
c. Exhibit
99.1 Press Release issued August 19, 1998.
<PAGE>
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, thereunto duly authorized.
Dated: August 19, 1998 CONSOLIDATED DELIVERY & LOGISTICS, INC.
(Registrant)
By: /s/ Albert W. Van Ness, Jr.
Albert W. Van Ness, Jr.
Chairman of the Board, Chief Executive
Officer and Chief Financial Officer
<PAGE>
Exhibit 99.1
FOR IMMEDIATE RELEASE,
CONTACT:
Desmond Towey
Mark Carlesimo, General Counsel Bernadette McLaughlin
Consolidated Delivery & Logistics, Inc. Desmond Towey & Associates
TEL (973) 471-1005 TEL (212) 888-7600
FAX (973) 471-5519 FAX (212) 888-7686
CONSOLIDATED DELIVERY & LOGISTICS IN MARKET TO RAISE $20 MILLION
*Private Placement Expands Acquisition Program*
Clifton, NJ (August 19, 1998) - Consolidated Delivery & Logistics, Inc. (NASDAQ:
CDLI) today announced that it has commenced a private placement for the proposed
sale of $20 million of senior subordinated notes with attached warrants. "The
senior notes will be offered privately through a placement agent to a limited
number of institutional and accredited investors." This financing will augment
the $15 million senior debt facility currently in place and is to be used
primarily to fund the Company's acquisition program.
Albert W. Van Ness, Jr., Chairman and CEO stated, "Selecting strategically smart
acquisitions is one of the Company's key goals for 1998 and 1999. Securing this
additional financing, will enable the Company to continue to aggressively pursue
this goal.
The notes being offered have not been, and will not be, registered under the
Securities Act of 1933 or any state securities, laws and they may not be offered
or sold in the United States absent registration or an applicable exemption from
registration requirements."
This press release contains certain forward-looking statements regarding future
events or the future financial performance of the Company. These forward-looking
statements include comments on the Company's future business development and
acquisitions strategy. These forward-looking statements involve certain risks
and uncertainties that may cause the actual events or results to differ
materially from those indicated by such forward-looking statements. Potential
risks and uncertainties include without limitation the will lack of satisfactory
merger or acquisition candidates and/or have an inability to conclude
acquisitions or mergers on satisfactory terms, and inability to obtain
acquisition financing on satisfactory terms or other risks specified in the
Company's SEC filings. No assurance can be given that any of the notes will be
sold.
Consolidated Delivery & Logistics, Inc. headquartered in Clifton, New Jersey is
a full service, same day ground and air delivery and logistics company with 60
offices in 23 states and the District of Columbia. The Company has nearly 3,000
employees and utilizes over 1,000 independent contractors in providing time
sensitive delivery services to thousands of businesses.
