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
Date of report (Date of Earliest Event Reported): July 13, 1998 (July 10, 1998)
TRANSIT GROUP, INC.
(Exact name of Registrant as specified in its charter)
Florida
(State or other jurisdiction of 33-30123-A 59-2576629
incorporation or organization) (Commission File No.) (IRS Employer
Identification No.)
2859 Paces Ferry Road
Suite 1740
Atlanta, Georgia 30339
(Address of principal executive offices, including zip code)
(770) 444-0240
(Registrant's telephone number, including area code)
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ITEM 9. SALE OF EQUITY SECURITIES PURSUANT TO REGULATION S
On July 10, 1998, Transit Group, Inc. ("Transit Group") issued
76,177 shares of its common stock to Charles D. Bates and Elizabeth Bates
("Sellers") pursuant to a Stock Exchange Agreement whereby Transit Group
acquired all of the outstanding shares of capital stock of 579809 Ontario
Limited and 962454 Ontario Limited. Such shares of common stock were issued to
the Sellers by Transit Group in reliance upon the exemption from registration
contained in Regulation S under the Securities Act of 1933.
An additional 115,314 shares of exchangeable stock of Transit Group
of Canada, Inc. were issued to the Sellers. Such shares are convertible at any
time into shares of common stock of Transit Group.
Transit Group, headquartered in Atlanta, Georgia, is a holding
company in the business of acquiring and consolidating short-, medium- and
long-haul trucking companies.
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.
TRANSIT GROUP, INC.
Date: July 13, 1998 /s/ Philip A. Belyew
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Philip A. Belyew
President and Chief Executive Officer
