Introduces Shipper Savings mannequin to the pricing ecosystem to assist shippers mitigate danger throughout peak season and past
NEW YORK, Sept. 19, 2022 /PRNewswire/ — Transfix, Inc. (“Transfix”), the Intelligent Freight Platform™, as we speak introduced the launch of Transfix TrueRate+ (TTR+), a recent method to transportation pricing that ensures tender acceptance, serving to to scale back reliance on RFPs, and can ship anticipated financial savings of upwards of 10% on common freight value.
Rate opacity is a main supply of mistrust throughout the transportation trade. Add to that the time-consuming RFP course of, and transportation executives discover themselves confronted with a cumbersome course of that lacks visibility and accountability, one that can typically result in greater prices with a degradation of service. Shippers that rely solely on the conventional spot and contract packages depart their provide chains inclined to extra danger throughout service and charges. Transfix TrueRate+ is designed to deal with these challenges and introduce a new stage of ease, transparency, and belief.
“We’ve heard repeatedly that traditional cost-plus products on the market make shippers feel as if they’re writing a blank check,” mentioned Jonathan Salama, co-founder and CTO of Transfix. “Transfix TrueRate+ is designed to be a true partnership with our customers by providing them full visibility into costs, the benefit of our reliable service, and the peace of mind that comes with having a trustworthy partner amidst a volatile market.”
Transfix TrueRate+ incorporates real-time market knowledge and a mix of machine studying and trade experience to derive a projected Market Rate. With TTR+, Transfix takes on a greater proportion of the prices if procuring above the Market Rate, whereas sharing a greater proportion of the financial savings with shippers when procuring beneath the Market Rate. As a outcome, TTR+ can provide costs upwards of 10% decrease than the trade common.
Additionally, by using TTR+ and Transfix’s highly effective AI expertise, logistics experience, and strategic community of almost 30,000 carriers, shippers can profit from assured tender acceptance, the alternative to simplify the RFP course of with a potential for diminished operations overhead offering extra time to deal with their core business initiatives, and diminished reliance on the spot market.
For extra details about Transfix TrueRate+, please go to this link (https://experience.transfix.io/pr-transfix-truerate-plus)
Additional Information
As introduced on September 21, 2021, Transfix has entered into a definitive business mixture settlement, as subsequently amended, with G Squared Ascend I Inc. (“G Squared Ascend I”) ( NYSE: GSQD), a particular goal acquisition firm sponsored by associates of G Squared, that is anticipated to lead to Transfix turning into a publicly listed firm. Completion of the business mixture is topic to customary closing situations.
About Transfix
Transfix drives fashionable provide chain affect at scale with its Intelligent Freight Platform™. By combining enterprise-grade, machine-learning expertise with intuitive software program and devoted provide chain consultants, Transfix is enabling organizations to ship with excessive efficiency and excessive reliability, drive long-term technique and capability planning, take empty miles off the street, and optimize their networks, at scale. Today, Transfix connects shippers to almost 30,000 carriers with real-time, many-to-many freight matching and the visibility they should make their provide chains extra environment friendly and environmentally accountable. Learn extra at Transfix.io.
About G Squared
G Squared is a world enterprise capital agency that companions with dynamic corporations all through their life cycles as a full capital options supplier, working to create worth for corporations, traders, workers, and different stakeholders. The agency focuses on investments in growth-stage expertise corporations and has invested in over 100 portfolio corporations because it was based in 2011. The agency’s affiliate, G Squared Ascend I Inc. (“G Squared Ascend I”), provides transformative non-public corporations a path to public markets through SPAC. For extra data on G Squared and its portfolio, go to: www.gsquared.com. For extra data on G Squared Ascend I, go to: www.gsquaredascend.com.
Media Contact
Chelsea Horn, Carve Communications for Transfix
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Important Information and Where to Find It
In reference to the proposed business mixture involving G Squared Ascend I and Transfix, Transfix Holdings, Inc. (“Transfix Holdings”) has filed a registration assertion on Form S-4, as amended (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”). The Registration Statement consists of a proxy assertion of G Squared Ascend I and a prospectus of Transfix Holdings. Additionally, G Squared Ascend I and Transfix Holdings will file different related supplies with the SEC in reference to the business mixture. Copies could also be obtained free of cost at the SEC’s web site at www.sec.gov. Security holders of G Squared Ascend I are urged to learn the proxy assertion/prospectus and the different related supplies after they change into accessible earlier than making any voting determination with respect to the proposed business mixture as a result of they’ll comprise essential details about the business mixture and the events to the business mixture and associated issues. The data contained on, or that could also be accessed by means of, the web sites referenced on this communication shouldn’t be included by reference into, and shouldn’t be a half of, this communication.
Participants in the Solicitation
G Squared Ascend I and its administrators and officers could also be deemed contributors in the solicitation of proxies of G Squared Ascend I’s stockholders in reference to the proposed business mixture. Transfix and its officers and administrators might also be deemed contributors in such solicitation. Security holders could acquire extra detailed data relating to the names, affiliations and pursuits of sure of G Squared Ascend I’s government officers and administrators in the solicitation by studying G Squared Ascend I’s Annual Report on Form 10-Okay for the yr ended December 31, 2021 filed with the SEC on April 13, 2022, and the proxy assertion/prospectus and different related supplies filed with the SEC in reference to the business mixture after they change into accessible. Information regarding the pursuits of G Squared Ascend I’s contributors in the solicitation, which can, in some instances, be totally different than these of their stockholders typically, can be set forth in the proxy assertion/prospectus referring to the business mixture when it turns into accessible.
No Offer or Solicitation
This communication is for informational functions solely and shouldn’t be meant to and shall not represent a proxy assertion or the solicitation of a proxy, consent or authorization with respect to any securities in respect of the proposed business mixture and shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any securities or represent a solicitation of any vote or approval, nor shall there be any sale, issuance or switch of securities in any jurisdiction during which such provide, solicitation or sale can be illegal previous to registration or qualification beneath the securities legal guidelines of any such jurisdiction.
Forward Looking Statements
The data on this communication could comprise statements that should not historic details however 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 “secure 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 “might,” “ought to,” “will,” “could,” “imagine,” “anticipate,” “intend,” “estimate,” “anticipate,” “undertaking,” 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.
SOURCE Transfix
