– Company commits to the Road Freight Zero
Initiative, working to advance the deployment of zero-emission
fleets and infrastructure –
NEW
YORK, May 20, 2022 /PRNewswire/ -- Transfix,
Inc. ("Transfix"), the Intelligent Freight Platform™, today
announced it has become a part of The World Economic Forum's Global
Innovators Community with a focus on the Road Freight Zero
Initiative.
Launched in 1971, The World Economic Forum is an international
non-governmental and lobbying organization created with the vision
to build, connect, and engage the foremost global community of
start-ups and scale-ups to further the mutual impact in the world.
Road Freight Zero is a coalition under the leadership of The World
Economic Forum's Mobility Platform, designed to advance the
deployment of zero emission fleets and infrastructure by 2030.
"Our team at Transfix is working tirelessly to build a better,
more sustainable and transparent supply chain," said Lily Shen, CEO and President, Transfix.
"Decreasing carbon emissions is one of the most important goals to
address in order to achieve a renewable future, and we look forward
to working with our partners at The World Economic Forum to take
key steps toward solving the critical issues plaguing the logistics
industry."
Transfix's Intelligent Freight Platform is the next generation
of freight technology. Combining enterprise-grade, machine-learning
technology with intuitive software and best-in-class freight
experts, Transfix is enabling organizations to deliver with high
performance and high reliability. With the Transfix Intelligent
Freight Platform, organizations are driving long-term strategy and
capacity planning, taking empty miles off the road, and optimizing
their networks, at scale.
As announced on September 21,
2021, Transfix has entered into a definitive business
combination agreement with G Squared Ascend I Inc. ("G Squared
Ascend I") (NYSE: GSQD), a special purpose acquisition company
sponsored by affiliates of G Squared, that is expected to result in
Transfix becoming a publicly listed company. Completion of the
business combination is subject to customary closing
conditions.
For more information, please visit www.transfix.io/ and
www.weforum.org/organizations/transfix.
About Transfix
Transfix drives modern supply chain
impact at scale with its Intelligent Freight Platform™. By
combining enterprise-grade, machine-learning technology with
intuitive software and dedicated supply chain experts, Transfix is
enabling organizations to deliver with high performance and high
reliability, drive long-term strategy and capacity planning, take
empty miles off the road, and optimize their networks, at scale.
Today, Transfix connects shippers to 28,000+ carriers with
real-time, many-to-many freight matching and the visibility they
need to make their supply chains more efficient and environmentally
responsible. Learn more at Transfix.io.
About The Global Innovators Community
The Global
Innovators Community is a group of the world's most promising
start-ups and scale-ups that are at the forefront of technological
and business model innovation. The World Economic Forum provides
the Global Innovators Community with a platform to engage with
public- and private-sector leaders and to contribute new solutions
to overcome current crises and build future resiliency. Companies
who are invited to become Global Innovators will engage with one or
more of the Forum's Platforms, as relevant, to help define the
global agenda on key issues.
About G Squared
G Squared is a global venture capital
firm that partners with dynamic companies throughout their life
cycles as a complete capital solutions provider, working to create
value for companies, investors, employees, and other stakeholders.
The firm focuses on investments in growth-stage technology
companies and has invested in over 100 portfolio companies since it
was founded in 2011. The firm's affiliate, G Squared Ascend I Inc.
("G Squared Ascend I"), offers transformative private companies a
path to public markets via SPAC. For more information on G Squared
and its portfolio, visit: www.gsquared.com. For more information on
G Squared Ascend I, visit: www.gsquaredascend.com.
Media Contact
Chelsea
Horn, Carve Communications for Transfix
chelsea@carvecomms.com
(210) 378-8580
Investor Contact
Investors@transfix.io
Important Information and Where to Find It
In
connection with the proposed business combination involving G
Squared Ascend I and Transfix, Transfix Holdings, Inc. ("Transfix
Holdings") has filed a registration statement on Form S-4, as
amended (the "Registration Statement") with the Securities and
Exchange Commission (the "SEC"). The Registration Statement
includes a proxy statement of G Squared Ascend I and a prospectus
of Transfix Holdings. Additionally, G Squared Ascend I and Transfix
Holdings will file other relevant materials with the SEC in
connection with the business combination. Copies may be obtained
free of charge at the SEC's website at www.sec.gov. Security
holders of G Squared Ascend I are urged to read the proxy
statement/prospectus and the other relevant materials when they
become available before making any voting decision with respect to
the proposed business combination because they will contain
important information about the business combination and the
parties to the business combination and related matters. The
information contained on, or that may be accessed through, the
websites referenced in this communication is not incorporated by
reference into, and is not a part of, this communication.
Participants in the Solicitation
G Squared Ascend I
and its directors and officers may be deemed participants in the
solicitation of proxies of G Squared Ascend I's stockholders in
connection with the proposed business combination. Transfix and its
officers and directors may also be deemed participants in such
solicitation. Security holders may obtain more detailed information
regarding the names, affiliations and interests of certain of G
Squared Ascend I's executive officers and directors in the
solicitation by reading G Squared Ascend I's Annual Report on Form
10-K for the year ended December 31,
2021 filed with the SEC on April 13,
2022, and the proxy statement/prospectus and other relevant
materials filed with the SEC in connection with the business
combination when they become available. Information concerning the
interests of G Squared Ascend I's participants in the solicitation,
which may, in some cases, be different than those of their
stockholders generally, will be set forth in the proxy
statement/prospectus relating to the business combination when it
becomes available.
No Offer or Solicitation
This communication is for
informational purposes only and is not intended to and shall not
constitute a proxy statement or the solicitation of a proxy,
consent or authorization with respect to any securities in respect
of the proposed business combination and shall not constitute an
offer to sell or the solicitation of an offer to buy any securities
or constitute a solicitation of any vote or approval, nor shall
there be any sale, issuance or transfer of securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward Looking Statements
The information in this
communication may contain statements that are not historical facts
but are "forward-looking statements'' within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, and within the
meaning of "safe harbor" provisions under the United States Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of present or historical fact included in this
communication, regarding G Squared Ascend I's proposed business
combination with Transfix, G Squared Ascend I's ability to
consummate the transaction, the benefits of the transaction and the
combined company's future financial performance, as well as the
combined company's strategy, future operations, estimated financial
position, estimated revenues and losses, projected costs,
prospects, plans and objectives of management are forward-looking
statements. When used in this communication, the words "could,"
"should," "will," "may," "believe," "anticipate," "intend,"
"estimate," "expect," "project," the negative of such terms and
other similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on management's current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. Except as otherwise required
by applicable law, G Squared Ascend I and Transfix disclaim any
duty to update any forward-looking statements, all of which are
expressly qualified by the statements in this section, to reflect
events or circumstances after the date of this communication. G
Squared Ascend I and Transfix caution you that these
forward-looking statements are subject to numerous risks and
uncertainties, most of which are difficult to predict and many of
which are beyond the control of either G Squared Ascend I or
Transfix. In addition, G Squared Ascend I and Transfix caution you
that the forward-looking statements contained in this communication
are subject to the following factors: (i) the occurrence of any
event, change or other circumstances that could delay the business
combination or give rise to the termination of the agreements
related thereto; (ii) the outcome of any legal proceedings that may
be instituted against G Squared Ascend I or Transfix following
announcement of the transactions; (iii) the inability to complete
the business combination due to the failure to obtain approval of
the shareholders of G Squared Ascend I, or other conditions to
closing in the transaction agreement; (iv) the risk that the
proposed business combination disrupts G Squared Ascend I's or
Transfix's current plans and operations as a result of the
announcement of the transactions; (v) Transfix's ability to realize
the anticipated benefits of the business combination, which may be
affected by, among other things, competition and the ability of
Transfix to grow and manage growth profitably following the
business combination; (vi) costs related to the business
combination; (vii) changes in applicable laws or regulations;
(viii) rollout of Transfix's business and the timing of expected
business milestones, (ix) the effects of competition on Transfix's
business, (x) supply shortages in the materials necessary for the
production of Transfix's products, (xi) risks related to original
equipment manufacturers and other partners being unable or
unwilling to initiate or continue business partnerships on
favorable terms, (xii) the termination or reduction of government
clean energy and electric vehicle incentives, (xiii) delays in the
construction and operation of production facilities, (xiv) the
amount of redemption requests made by G Squared Ascend I's public
stockholders, (xv) changes in domestic and foreign business,
market, financial, political and legal conditions, and (xvi) the
possibility that Transfix may be adversely affected by other
economic, business, and/or competitive factors. Should one or more
of the risks or uncertainties described in this communication, or
should underlying assumptions prove incorrect, actual results and
plans could differ materially from those expressed in any
forward-looking statements. You should carefully consider the risks
and uncertainties described in the "Risk Factors" section of G
Squared Ascend I's final prospectus filed with the SEC on
February 8, 2021 and its Annual
Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on
April 13, 2022, and other documents
of G Squared Ascend I filed, or to be filed, including the proxy
statement/prospectus, with the SEC. Additional information
concerning these and other factors that may impact the operations
and projections discussed herein can be found in G Squared Ascend
I's filings with the SEC. G Squared Ascend I's SEC filings are
available publicly on the SEC's website at www.sec.gov.
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SOURCE Transfix