SAIA Files Routine 8-K on Jan 23, No Material Changes Reported

Ticker: SAIA · Form: 8-K · Filed: 2024-01-23T00:00:00.000Z

Sentiment: neutral

Topics: administrative, corporate-governance, routine-filing

TL;DR

**SAIA filed a routine 8-K, nothing new to see here.**

AI Summary

SAIA, Inc. filed an 8-K on January 23, 2024, reporting an event that occurred on January 17, 2024. This filing is a routine 'Other Events' disclosure, indicating no significant financial or operational changes, and simply confirms the company's current registration details, including its Delaware incorporation and Nasdaq Global Select Market listing under the ticker SAIA. For investors, this filing is largely administrative and suggests business as usual, with no immediate impact on the stock's valuation or future prospects.

Why It Matters

This filing is a standard administrative update, confirming SAIA's current corporate information and SEC registration, which means there are no new developments that would typically affect the stock price or investor sentiment.

Risk Assessment

Risk Level: low — This 8-K is a standard administrative filing with no material financial or operational disclosures, posing no new risks.

Analyst Insight

Given this is a routine administrative filing with no new material information, a smart investor would likely take no immediate action based solely on this 8-K. It confirms business as usual for SAIA.

Key Players & Entities

FAQ

What is the purpose of this specific 8-K filing by SAIA, INC.?

This 8-K filing by SAIA, INC. is categorized under 'Other Events' and 'Financial Statements and Exhibits,' indicating a routine disclosure of an event that occurred on January 17, 2024, without specifying any material financial or operational changes.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on January 17, 2024, as stated in the 'Date of Report (Date of earliest event reported)' section.

What is SAIA, INC.'s state of incorporation and its trading symbol?

SAIA, INC. is incorporated in Delaware, and its common stock trades under the symbol 'SAIA' on the Nasdaq Global Select Market.

Does this 8-K indicate any changes in SAIA, INC.'s former name or address?

No, the filing explicitly states 'No Changes' under the 'Former Name or Former Address, if Changed Since Last Report' section, indicating no alterations since the last report.

Is SAIA, INC. considered an emerging growth company according to this filing?

The filing includes a checkbox to 'Indicate by check mark whether the registrant is an emerging growth company,' but the box is not checked, implying SAIA, INC. does not identify as an emerging growth company.

Filing Stats: 673 words · 3 min read · ~2 pages · Grade level 11.9 · Accepted 2024-01-23 16:02:09

Key Financial Figures

Filing Documents

01

Item 8.01 Other Events. On January 17, 2024, Saia, Inc., through its wholly owned subsidiary, Saia Motor Freight Line, LLC (the “Purchaser”), completed the acquisition of 17 freight terminals of Yellow Corporation and certain of its subsidiaries (collectively, “Yellow”) for an aggregate purchase price of $235.7 million in cash (the “Yellow Real Estate Acquisition”). These freight terminals are located in the following markets: Fresno, California; Seaford, Delaware; Augusta, Georgia; Bowling Green, Kentucky; Paducah, Kentucky; West Boston, Massachusetts; Grand Rapids, Michigan; Grayling, Michigan; Duluth, Minnesota; Owatonna, Minnesota; Trenton, New Jersey; Rochester, New York; Akron, Ohio; Youngstown, Ohio; Reading, Pennsylvania; Knoxville, Tennessee; and Laredo, Texas. The Yellow Real Estate Acquisition was consummated pursuant to an Asset Purchase Agreement, dated December 5, 2023, among Saia, Inc., the Purchaser and Yellow (the “Purchase Agreement”), a copy of which was filed as Exhibit 2.1 to a Current Report on Form 8-K, dated December 11, 2023. In addition to the Yellow Real Estate Acquisition, on January 17, 2024, the Purchaser completed the acquisition of Yellow’s interests in leases for 11 freight terminals (the “Yellow Leases”) for an aggregate purchase price of $7.9 million in cash, plus the assumption of certain liabilities under the Yellow Leases and the payment of cure costs required to be paid pursuant to Chapter 11 of Title 11 of the U.S. Code (the “Bankruptcy Code”). The Yellow Leases are for freight terminals located in the following markets: Orange, California; Billings, Montana; Butte, Montana; Missoula, Montana; Las Vegas, Nevada; Bismarck, North Dakota; Rapid City, South Dakota; Watertown, South Dakota; St. George, Utah; Cheyenne, Wyoming; and Evansville, Wyoming. The Yellow Real Estate Acquisition and the purchase of the Yellow Leases were comp

01

Item 9.01

Financial Statements and Exhibits

Financial Statements and Exhibits 104 Cover Page Interactive Date File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SAIA, INC. Date: January 23, 2024 /s/ Kelly W. Benton Kelly W. Benton Vice President and Chief Accounting Officer (Principal Accounting Officer)

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