Retrieved on:
Wednesday, January 17, 2024
Environmental issues,
Customer,
Health,
Biophysical environment,
Unique,
ESG,
Environment,
SAF,
Carbon,
Safety,
Development,
Social responsibility,
Aviation fuel,
Audit NEW YORK, Jan. 17, 2024 /PRNewswire/ -- Unique Logistics International, Inc., a global logistics and freight forwarding company, proudly announces its dedication to environmental, social, and governance (ESG) principles in its first ESG report.
Key Points:
- NEW YORK, Jan. 17, 2024 /PRNewswire/ -- Unique Logistics International, Inc., a global logistics and freight forwarding company, proudly announces its dedication to environmental, social, and governance (ESG) principles in its first ESG report.
- Recognizing Unique Logistics' pivotal role in addressing environmental challenges, the company actively collaborates with customers on ESG projects, surpassing traditional business relationships.
- "I'm thrilled to lead our ESG programs and unveil our first report," said Mickey Diaz, Unique's Chief Operating Officer.
- "I proudly reaffirm our core commitment to ESG principles," said Sunandan Ray, CEO of Unique Logistics.
Newly acquired operating subsidiaries in Asia resulted in increased operating cost, while the business levels at these subsidiaries remained depressed due to the reduced shipping volumes in the quarter.
Key Points:
- Newly acquired operating subsidiaries in Asia resulted in increased operating cost, while the business levels at these subsidiaries remained depressed due to the reduced shipping volumes in the quarter.
- "The first quarter saw a temporary slowdown in shipping activity.
- "We are actively integrating recently acquired subsidiaries while exploring new opportunities for acquisitions and partnerships.
- Mr. Ray concluded, "Unique Logistics remains dedicated to pushing the boundaries of innovation, sustainability, and customer-centric solutions.
Retrieved on:
Tuesday, September 19, 2023
On the other hand, at normalized freight rates, Unique substantially increased its gross margin (or net revenue) from 4.2% in fiscal year 2022 to 11.1% in fiscal year 2023.
Key Points:
- On the other hand, at normalized freight rates, Unique substantially increased its gross margin (or net revenue) from 4.2% in fiscal year 2022 to 11.1% in fiscal year 2023.
- This improvement, together with containment of overhead, resulted in the company achieving adjusted EBITDA of $12.1 million together with an increase in net income of 134%."
- "The acquisitions we completed in February 2023 are also seeing business growth in the resurgent freight market.
- On February 21, 2023, the Company completed the acquisition of share capital in eight operating subsidiaries from Unique Logistics Holdings Limited, a Hong Kong corporation.
NEW YORK, June 9, 2023 /PRNewswire/ -- Unique Logistics International, Inc. (OTCMKTS: UNQL) ("Unique" or the "Company"), a global logistics and freight forwarding company, today announced that Edify Acquisition Corp. ("Edify")(Nasdaq: EAC), a special purpose acquisition company, has filed a registration statement on Form S-4 (the "Registration Statement"), which includes a preliminary proxy statement/prospectus, with the U.S. Securities and Exchange Commission (the "SEC") relating to the previously announced proposed business combination between Unique and Edify.
Key Points:
- Upon closing, Edify is expected to change its name to Unique Logistics International Holdings, Inc., and the combined company's common stock and warrants are expected to begin trading on the Nasdaq Capital Market.
- "We are thrilled to be one step closer to trading on Nasdaq," said Sunandan Ray, Chairman and CEO of Unique.
- "We believe the business combination will further our goal of continuing to rapidly capture market share across all critical logistical hubs in the country and strategically scale our platform.
- The filing of the Registration Statement follows Unique's successful acquisition of certain operating subsidiaries and affiliates of Unique Logistics Holdings Limited, the Company's former parent company (the "ULHL Entities Acquisition").
NEW YORK, April 20, 2023 /PRNewswire/ -- Unique Logistics International, Inc. (OTCMKTS: UNQL) ("Unique" or the "Company"), a global logistics and freight forwarding company, today announced results for its third fiscal quarter ended February 28, 2023. This is the reporting quarter in which the Company completed critical acquisitions. The acquisitions closed on February 21, 2023 and thus there was no discernable impact on revenue or net income in the third quarter.
Key Points:
- For the year to date, Net Income was $7.3 million compared with $1.6 million for the equivalent prior year period.
- Working capital deficit of $9.7 million is primarily the result of our use of short-term financing to fund the acquisitions.
- "The most significant event of the third quarter was the critical closing of the acquisitions we have targeted for so long.
- "Third quarter reflects market slowdown due to seasonal factors as well as excess inventory following the post-Covid build up.
Retrieved on:
Monday, February 27, 2023
EBITDA,
Intra Asia Network,
External debt,
Sales,
Securities and Exchange Commission of Pakistan,
Acquisition,
Asset purchase agreement,
United Kingdom,
Security (finance),
OTC Markets Group,
Acquire BPO,
Acquire (company),
Sumathi Best Television Current Reporting Award The Acquired Companies are in China, Hong Kong, India, Taiwan, the United Kingdom, and Vietnam.
Key Points:
- The Acquired Companies are in China, Hong Kong, India, Taiwan, the United Kingdom, and Vietnam.
- They are all specialist logistics companies in their country of operations.
- The acquisition of these operating subsidiaries and affiliates will allow UNQL to increase logistics services in the countries of the Acquired Companies, exports from the United States to those countries, and trade among the countries of the Acquired Companies and Europe, Latin America, Canada, and Intra-Asia.
- Commenting on the transaction closing, CEO Sunandan Ray stated, "The closing of this acquisition is the next step in executing our strategic plan to become a leading supply chain service provider.
Retrieved on:
Tuesday, January 17, 2023
The current quarter and year to date reflect changes in market conditions in the post covid economy.
Key Points:
- The current quarter and year to date reflect changes in market conditions in the post covid economy.
- The volume and price surge from the comparative period of 2021 has dissipated and the logistics market has returned to conditions more similar to 2019, prior to the covid pandemic.
- CEO Sunandan Ray commented on the financial results, "Market activity in the current quarter and year to date reflects the normalization of logistics following the boom in 2021 when markets returned post-Covid.
- Mr. Ray stated, "We continue to approach the remainder of the fiscal year optimistic about the Company's progress and growth prospects.
Retrieved on:
Monday, December 19, 2022
Tripura Merger Agreement,
Acquisition,
EAC,
Annual report,
Person,
Failure,
Letter,
Attention,
Sale,
Mergers and acquisitions,
Prospectus,
Telephone,
Multimedia,
Risk,
Proxy,
In re Caremark International Inc. Derivative Litigation,
Growth,
United Kingdom,
Information,
Form,
Airline,
Retail,
Property management,
Security (finance),
Edifi NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Unique Logistics International, Inc. (OTCMKTS: UNQL) ("Unique" or the "Company"), a global logistics and freight forwarding company, today announced that it has signed a definitive agreement and plan of merger (the "Merger Agreement") with Edify Acquisition Corp. ("Edify") (Nasdaq: EAC), a special purpose acquisition company, for a proposed business combination of the two companies.
Key Points:
- NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Unique Logistics International, Inc. (OTCMKTS: UNQL) ("Unique" or the "Company"), a global logistics and freight forwarding company, today announced that it has signed a definitive agreement and plan of merger (the "Merger Agreement") with Edify Acquisition Corp. ("Edify") (Nasdaq: EAC), a special purpose acquisition company, for a proposed business combination of the two companies.
- Under the Merger Agreement, subject to satisfaction of the closing conditions contained therein, Unique will merge with a subsidiary of Edify, and thereby become a wholly-owned subsidiary of Edify.
- Announces Merger Agreement with Edify Acquisition Corp.
- This press release relates to a proposed transaction between Unique Logistics International, Inc. and Edify Acquisition Corp.
Retrieved on:
Wednesday, October 12, 2022
U.S. Securities and Exchange Commission,
SEC,
Mission statement,
Efficiency,
Growth,
Annual report,
Securities Exchange Act of 1934,
Income,
Business,
Security (finance),
GAAP,
Securities Act of 1933,
Depreciation,
Company,
Acquisition,
Industry,
Tax,
Yoy,
EBITDA,
Forward-looking statement,
Terminology,
COVID-19,
Information,
OTC Markets Group,
Bookkeeping CEO, Sunandan Ray commented on the financial results, "The prevailing market conditions, as expected, have resulted in a drop in our Revenue.
Key Points:
- CEO, Sunandan Ray commented on the financial results, "The prevailing market conditions, as expected, have resulted in a drop in our Revenue.
- We have, however, made significant progress executing our procurement strategy in the August quarter, allowing us to contain costs and increase adjusted EBITDA by 50%.
- Shipping markets slowed during the August quarter as the post-COVID bounce faded, and macro factors started to weigh on pricing power.
- Unique Logistics International, Inc. (OTC Markets: UNQL) through its wholly owned operating subsidiaries, is a global logistics and freight forwarding company providing a range of international logistics services that enable its customers to outsource to the Company sections of their supply chain process.
Retrieved on:
Wednesday, September 14, 2022
Securities Exchange Act of 1934,
Income,
COVID-19,
GAAP,
EBITDA,
Nature,
Company,
Acquisition,
Growth,
Net income,
Securities Act of 1933,
Industry,
Business,
Forward-looking statement,
U.S. Securities and Exchange Commission,
Depreciation,
Terminology,
Adjustment,
Annual report,
OTC Markets Group,
Information,
Security (finance),
SEC,
Tax,
Bookkeeping,
Management,
Operation CEO Sunandan Ray commented on these results, "2022 was a pivotal year in the evolution of Unique Logistics since the acquisition of our operating subsidiaries in May 2020.
Key Points:
- CEO Sunandan Ray commented on these results, "2022 was a pivotal year in the evolution of Unique Logistics since the acquisition of our operating subsidiaries in May 2020.
- Our focus has been on consolidating operations, continuing to build out our management team, and growing revenue by adding strategic corporate accounts."
- Mr. Ray stated, "For the fiscal year 2023 we are cautious, but optimistic about the Company's growth prospects.
- The forward-looking statements in this press release speak only as of the date on which the statements are made.
