SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 1, 2000
COVENANT TRANSPORT, INC.
(Exact name of registrant as specified in its charter)
NEVADA 000-24960 88-0320154
(State or other jurisdiction (Commission File Number) (IRS Employer ID No.)
of incorporation)
400 Birmingham Highway, Chattanooga, Tennessee 37419
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (423) 821-1212
<PAGE>
Item 5. Other Events
Effective July 1, 2000, the Company completed its acquisition of a 13%
membership interest in Transplace.com, LLC, a Nevada limited liability company
("Transplace"). Transplace was formed in April 2000, by six transportation
companies, including the Company, which had existing logistics businesses, to
operate as an internet-based, global transportation logistics company. In
exchange for its membership interest, the Company contributed assets consisting
of (i) $5 million in cash and (ii) certain intangible assets of the Company's
transportation logistics business. Such intangible assets included all contracts
with customers, logistics business software and software licenses, and certain
intellectual property. Additionally, the Company agreed generally not to compete
with Transplace in the logistics business.
The other members of Transplace include U.S. Xpress Enterprises, Inc.
("Xpress"), J.B. Hunt Transport Services, Inc. ("Hunt"), M.S. Carriers, Inc.
("M.S."), Swift Transportation Co., Inc. ("Swift"), and Werner Enterprises, Inc.
("Werner"), each of which contributed cash in the amount of $5 million and the
intangible assets of their respective logistics business operations to
Transplace in exchange for their membership interests. The other parties'
membership interests in Transplace are as follows: Xpress - 13%; Hunt - 28%;
M.S. - 14%; Swift - 16%; Werner 16%.
<PAGE>
SIGNATURES
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.
Date: July 31, 2000 COVENANT TRANSPORT, INC.
By: /s/ Joey B. Hogan
-------------------------------
Joey B. Hogan
Chief Financial Officer
