Hudson Capital and Freight App, Inc. Take Steps to Prepare for Anticipated Merger
Hudson Capital Inc. (NASDAQ: HUSN) (Hudson Capital) moves forward in its process to merge with Freight App, Inc. (Fr8App).
“We continue to be very excited to merge with Fr8App,” stated Warren Wang, Chairman and CEO of Hudson Capital. “As a leader in logistics technology, Fr8App continues to launch new solutions, add shipper relationships, increase its carrier base, and improve its financial performance. By providing compelling solutions to carrier and shipper partners with a focus on US-Mexico cross-border shipping, Fr8App is positioned to capture increasing share of its large market opportunity.”
CEO of Fr8App Javier Selgas said, “In 2021, we reported record levels of revenue, loads carried, average miles, shipper and carrier count. We are working diligently with Hudson to close the merger and look forward to being part of a public company, which will enhance our opportunity to grow our business.”
On January 20, 2022, in anticipation of the upcoming merger, Hudson Capital filed with the Securities and Exchange Commission (the “SEC”) a Form 6-K containing unaudited pro forma condensed combined financial information, Fr8App’s audited financial statements for the fiscal years ended December 31, 2020 and 2019, and unaudited financial statements for the six months ended June 30, 2021. The closing of the merger remains subject to customary closing conditions as well as regulatory approval.
About Freight App, Inc.
Freight App, Inc. (Fr8App), formerly known as FreightHub, Inc., makes shipping simple, transparent, and efficient. A transportation logistics technology platform company, Fr8App focuses on truckload freight for domestic and cross-border markets in Mexico, the US and Canada. As an innovative digital freight marketplace, broker, transportation management system (TMS) and public API, Fr8App uses its proprietary technology platform to connect carriers and shippers that significantly improves matching and operation efficiency via innovative technologies such as live pricing and real-time tracking.
About Hudson Capital Inc.
Incorporated in 2014, Hudson Capital Inc. (formerly known as China Internet Nationwide Financial Services Inc. (NASDAQ: HUSN)) commenced its business by providing financial advisory services to small and medium size companies. The traditional business segments include commercial payment advisory, intermediary bank loan advisory and international corporate financing advisory services which help clients to meet their commercial payment and investment needs. For more information, about Hudson Capital, please see the documents filed by Hudson Capital with the SEC at www.sec.gov.
In connection with the proposed merger, Hudson Capital has filed on a Form 6-K on December 14, 2021 and December 30, 2021.