Hudson Capital Combines with Freight App, Inc., Adopts its Leadership Team and US Headquarters
Este comunicado se publicó en inglés y se reproduce sin traducir. Es una divulgación de una emisora listada en Nasdaq: el texto en inglés es el documento de referencia, y una traducción sin carácter oficial diría menos, no más.
Hudson Capital Inc. (NASDAQ: HUSN) (Hudson) acquired 100% of Freight App, Inc. (Fr8App) as a wholly owned subsidiary on Monday, February 14, 2022. As part of the transaction, Hudson appointed Fr8App’s leadership to replace Hudson’s retiring board, CEO Warren Wang, and CFO Man Yun and adopted Fr8App’s U.S. Headquarters in Houston, Texas. Effective February 15, 2022, Hudson Capital, Inc. named Javier Selgas as CEO and Paul Freudenthaler as CFO. The newly appointed Board of Directors includes Selgas and independent directors Nicholas Adler, Marc Urbach, and William Samuels.
Selgas stated, “This merger is a culmination of nearly two years of dedicated work and investment. I want to thank Mr. Wang and Mr. Yun for their involvement in this process and to also thank the former board of directors for their service. We are grateful for their contributions and are excited to now be a part of a US-headquartered, publicly listed company.”
“We believe, Fr8App, a U.S.-headquartered, North American company, is fast becoming a leader in transportation logistics technology with a focus on US-Mexico cross-border shipping. Fr8App grew revenue by 119% in 2020 and based on preliminary results, by 134% in 2021 over the prior year. Fr8App offerings provide compelling solutions to carrier and shipper partners and to logistics industry needs in general in a freight market that is second only in size to the US domestic fleet market,” concluded Selgas.
Freudenthaler said, “Confident in Fr8App’s long-term growth, Fr8App shareholders invested over $20 million in the company over the past 18 months. Over the next several quarters, we expect to simplify our capital structure. As a public company, we plan to capitalize on a number of growth opportunities which may include developing additional technology and/or acquiring complementary offerings to our present suite of solutions.”
Fr8App WebinarCEO Javier Selgas, CFO Paul Freudenthaler and President Mike Flinker will hold a webinar on Wednesday, February 23, 2022 at noon ET to discuss the company and its vision for 2022.
About Hudson Capital Inc. and Freight App, Inc.Freight App, Inc. (Fr8App), North American transportation logistics technology platform company focused on US-Mexico cross-border shipping, is a wholly-owned subsidiary of Hudson Capital Inc. (NASDAQ: HUSN) headquartered in Houston, Texas. Fr8App, focusing on truckload freight for domestic and cross-border markets in Mexico, the US and Canada, makes shipping simple, transparent, and efficient. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions.