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Rand Logistics Inc (RLOG.OQ)

RLOG.OQ on NASDAQ Stock Exchange Capital Market

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Latest Key Developments (Source: Significant Developments)

Rand Logistics enters into restructuring support agreement with second lien lender
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Rand Logistics Inc :Rand Logistics-on Nov 17,entered into restructuring support agreement with holder of all of indebtedness outstanding under second lien credit agreement.Rand Logistics- ‍implementation of plan would result in conversion of second lien lender's claims into 100% of outstanding stock of reorganized co​.Rand Logistics - ‍RSA contemplates co will file for voluntary relief under chapter 11 of bankruptcy code in U.S. Bankruptcy court on/before Dec 19​.  Full Article

American Industrial Partners to acquire Rand Logistics
Wednesday, 22 Nov 2017 

Nov 21 (Reuters) - Rand Logistics Inc -:AMERICAN INDUSTRIAL PARTNERS TO ACQUIRE RAND LOGISTICS, INC..‍AMERICAN INDUSTRIAL PARTNERS HAS AGREED TO ACQUIRE CO​.‍UNDER TERMS OF AGREEMENT, AIP AGREED TO CONVERT ALL OF CO'S SECOND LIEN DEBT INTO 100% OF NEW COMMON EQUITY OF REORGANIZED COMPANY​.CO'S BUSINESS TO CONTINUE UNINTERRUPTED PENDING COMPLETION OF TRANSACTION.‍TRANSACTION WILL MATERIALLY DE-LEVER COMPANY'S BALANCE SHEET, ELIMINATING APPROXIMATELY $90 MILLION IN OUTSTANDING DEBT.  Full Article

Rand Logistics Qtrly net loss per share $0.30
Tuesday, 15 Aug 2017 

Aug 14 (Reuters) - Rand Logistics Inc :Rand logistics reports fiscal year 2018 first quarter financial results.Qtrly revenue $ 32.3 million versus $ 33.8 million.Qtrly net loss per share basic and diluted is $0.30.  Full Article

Rand Logistics Inc Q3 loss per share $0.03
Monday, 13 Feb 2017 

Rand Logistics Inc : Rand Logistics Inc reports third quarter fiscal year 2017 financial results . Q3 loss per share $0.03 .Qtrly total revenue $37.8 million versus $45.8 million.  Full Article

Rand Logistics Inc files for non-timely 10-Q
Tuesday, 16 Aug 2016 

Rand Logistics Inc : Rand Logistics Inc files for non-timely 10-Q - SEC filing .Do not expect to revise any of operating results announced on august 16, 2016.  Full Article

Rand Logistics quarterly loss per share $0.16
Tuesday, 16 Aug 2016 

Rand Logistics Inc : Quarterly loss per share $0.16 . Reaffirming expectation to sail at least 3,405 days this fiscal year . Quarterly total revenue $33.82 million versus $44.83 million . Quarterly freight and other related revenue generated from company-operated vessels decreased $5.9 million, or 15.0 percent to $33.1 million . Says increasing annual cost savings targets by $1 million, to $3 million to $5 million of savings, which they hope to realize over next 12 months . Expect to reintroduce one of two laid up bulk carriers in next 30 days for remainder of sailing season . Quarterly marine freight and vessel margin per day increased 7.7 percent and 14.1 percent .Pursuing waivers, amendments to address defaults pending which co is unable to finalize balance sheet for quarter ended June 30, 2016.  Full Article

Rand logistics reports 2016 financial results
Wednesday, 15 Jun 2016 

Rand Logistics Inc : Rand logistics reports fiscal year 2016 financial results . For month of April 2016, sailed for 242 days compared to 318 days in same period in 2015 . In April 2016, delays days equaled 5.8% of total sailing days versus 18.6% in April 2015 . Adjusted EBITDA equaled a loss of $5.6 million for quarter ended March 31, 2016 versus a loss of $9.9 million during quarter ended March 31, 2015 .Freight and other related revenue generated from company-operated vessels increased $0.4 million to $4.9 million during three-month period ended march 31, 2016.  Full Article

BRIEF-Rand Logistics enters into restructuring support agreement with second lien lender

* Rand Logistics-on Nov 17,entered into restructuring support agreement with holder of all of indebtedness outstanding under second lien credit agreement