NEW YORK, July 01, 2021 (GLOBE NEWSWIRE) – Hudson Capital Inc. (NASDAQ: HUSN) (Hudson Capital) has announced that FreightHub, Inc. (Fr8Hub), a North American transportation logistics technology platform company Focused on US-Mexico Cross-Border Traffic – the border shipping with which Hudson Capital has signed a definitive merger agreement, has launched its Electronic Data Interchange (EDI) interface.
Javier Selgas, CEO of Fr8Hub, said: “With the launch of our EDI interface, we now have the ability to connect with our customers and suppliers using a robust industry standard for electronic data transfer. Our EDI interface makes it easier and more cost effective for our customers and service providers to do business with us. This capability makes our business processes transparent and enables our operating cycles to be more efficient. We believe that by leveraging our core infrastructure and increasing returns to scale, this interface will further strengthen our business momentum, expand our customer footprint, and give us an additional edge over our competitors. “
Electronic Data Interchange (EDI)
EDI is a system or method of exchanging business documents with business partners, such as suppliers, customers, carriers, 3PLs, or other supply chain connections. EDI optimizes business processes by replacing manual processes such as mail, fax, and email with electronic exchanges of business transactions between two companies that may use very different internal business systems. EDI also meets compliance requirements for retailers and distributors, to ensure that every outgoing document contains complete data in the correct format. By “mapping” the data to meet these requirements, suppliers can easily meet buyers’ expectations and create transparent communications.
About FreightHub, Inc.
FreightHub, Inc. (Fr8Hub) makes shipping simple, seamless, and efficient. A transportation logistics platform company, Fr8Hub focuses on full freight for domestic and cross-border markets in Mexico, United States and Canada. As an innovative digital freight market, broker, transportation management system (TMS) and public API, Fr8Hub uses its proprietary technology platform to connect carriers and shippers, which greatly improves matching and efficiency. operations through 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)) began its operations providing financial advisory services to small and medium-sized businesses. Traditional business segments include commercial payment advice, intermediary bank loan advice, and international corporate finance advisory services that help clients meet their trade and investment payment 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 intends to file relevant documents with the Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 (the “Form S-4 ”) which was filed with the SEC on November 12, 2020, as amended on December 31, 2020, February 8, 2021, May 18, 2021 and June 22, 2021, and includes and serves as a proxy statement / prospectus for Hudson Capital shareholders and prospectus for Fr8Hub shareholders. Immediately after the SEC’s effective declaration of Form S-4, Hudson Capital will send the proxy statement / final prospectus and proxy card to each shareholder entitled to vote at the special meeting on the merger and other proposals set out in the power of attorney. declaration. HUDSON CAPITAL SHAREHOLDERS ARE URGED TO READ THESE DOCUMENTS (INCLUDING ANY CHANGES OR SUPPLEMENTS INCLUDING) AND ANY OTHER DOCUMENTS RELEVANT TO THE MERGER THAT HUDSON CAPITAL FILES WITH THE SEC WHEN THE INFORMATION BECOMES AVAILABLE AS THEY CONTAIN IMPORTANT FREIGHTHUB AND FUSION. The Proxy Circular / Final Prospectus and other relevant documents relating to the Merger (when available), as well as any other documents filed by Hudson Capital with the SEC, may be obtained free of charge from the website of the SEC (www.sec.gov).
Participants in the call for tenders
Hudson Capital and its directors and officers may be considered participants in the solicitation of proxies from the shareholders of Hudson Capital with respect to the merger. A list of the names of such directors and officers and a description of their interests in Hudson Capital are included in the prospectus / proxy statement for the proposed merger and are available at www.sec.gov. Additional information regarding the interests of such participants will be contained in the prospectus / proxy statement for the proposed merger when available. Information about the directors and officers of Hudson Capital and their ownership of Hudson Capital common stock is set out in Hudson Capital’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 15, 2020. These documents can be obtained free of charge from the sources listed above.
Fr8Hub and its directors and officers may also be considered participants in the solicitation of proxies from the shareholders of Hudson Capital in connection with the proposed merger. A list of the names of such directors and officers and information regarding their interests in the proposed merger is included in the prospectus / proxy statement for the proposed merger, and is available at www.sec.gov.
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results of Hudson Capital and Fr8Hub may differ from their expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “anticipate”, “anticipate”, “intention”, “” believe “,” predict “,” potential “,” continue ”and similar expressions (or negative versions of such words or expressions) are intended to identify these forward-looking statements. These forward-looking statements include, without limitation, the expectations of Hudson Capital and Fr8Hub with respect to the future performance and anticipated financial impacts of the proposed acquisition, the satisfaction of the closing conditions of the proposed acquisition and the timetable for completing the proposed acquisition. .
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are beyond the control of Hudson Capital and Fr8Hub and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstance that may result in the termination of the Definitive Merger Agreement (the “Agreement”); (2) the outcome of any legal proceedings which may be brought against Hudson Capital or Fr8Hub following the announcement of the Agreement and the transactions contemplated therein; (3) the inability to complete the proposed acquisition, in particular due to the failure to obtain the approval of the shareholders of Hudson Capital and the shareholders of Fr8Hub, of certain regulatory approvals or to meet other closing conditions of the Agreement; (4) the occurrence of any event, change or other circumstance which could result in the termination of the Agreement or could otherwise prevent the closing of the transaction; (5) the impact of the COVID-19 pandemic on Fr8Hub’s business and / or the ability of the parties to complete the proposed acquisition; (6) the inability to obtain or maintain the listing of the common shares of Hudson Capital on the Nasdaq as a result of the proposed merger; (7) the risk that the proposed acquisition will disrupt current plans and operations following the announcement and completion of the proposed merger; (8) the ability to recognize the anticipated benefits of the proposed merger, which may be affected, inter alia, by competition, the ability of Fr8Hub to grow and manage its growth profitably, and to retain its key employees; (9) costs associated with the proposed merger; (10) changes in applicable laws or regulations; (11) the possibility that Hudson Capital or Fr8Hub will be adversely affected by other economic, commercial and / or competitive factors; (12) risks related to the uncertainty of forecast financial information concerning Fr8Hub; (13) risks related to the organic and inorganic growth of Fr8Hub’s activity and the calendar of expected commercial milestones; and (14) other risks and uncertainties indicated from time to time in the prospectus / proxy statement on Form S-4, relating to the proposed merger, including those referred to in the “Risk Factors” section of this one. here, to be filed by Hudson Capital and to Hudson The other documents filed by Capital with the SEC. Hudson Capital cautions that the above list of factors is not exclusive. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from those indicated or anticipated by these forward-looking statements. Hudson Capital and Fr8Hub caution readers not to place undue reliance on forward-looking statements, which speak only as of the date they are posted. Hudson Capital and Fr8Hub do not undertake or accept any obligation or commitment to publicly release updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in the events, conditions or circumstances on which a such statement is based.
No offer or solicitation
This press release does not constitute a solicitation of any proxy, consent or authorization with respect to any security or with respect to the proposed merger. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal before registration. or qualifying under the securities laws of such jurisdiction. No offer of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Moriah Shilton or Kirsten Chapman, LHA Investor Relations, [email protected], 415.433.3777
Contact for Hudson Capital:
Hon Man Yun, CFO, [email protected], (852) 98047102