8-K 1 0001.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): July 1, 2000 U.S. XPRESS ENTERPRISES, INC. ----------------------------- (Exact name of Registrant as specified in its charter) Nevada 0-24806 62-1378182 ------ ------- ---------- (State or other (Commission (I.R.S. Employer jurisdiction File Number) Identification No.) of incorporation) 4080 Jenkins Road, Chattanooga, Tennessee 37421 ----------------------------------------- ----- (Address of principal executive offices) (zip code) Registrant's telephone number, including area code (423) 510-3000 Item 5. Other Events Effective July 1, 2000 the Company completed its acquisition of a 13% membership interest in Transplace.com, LLC, a Nevada Limited Liability company ("Transplace"). Transplace was formed in April 2000 by six transportation companies, including the Company, which had existing logistics businesses, to operate as an internet-based, global transportation logistics company. In exchange for its membership interest, the Company contributed assets consisting of (i) $5 million in cash and (ii) all of the intangible assets of the Company's transportation logistics business. Such intangible assets included all contracts with customers, goodwill, logistics business software and software licenses, patents, trademarks, and other intellectual property. Additionally, the Company agreed generally not to compete with Transplace in the logistics business. The other members of Transplace include Covenant Transport, Inc. ("Covenant"), J.B. Hunt Transport Services, Inc. ("Hunt"), M.S. Carriers, Inc. ("M.S."), Swift Transportation Co., Inc. ("Swift"), and Werner Enterprises, Inc. ("Werner"), each of which contributed cash in the amount of $5 million and the intangible assets of their respective logistics business operations to Transplace in exchange for their membership interests. The other parties' membership interests in Transplace are as follows: Covenant - 13%; Hunt - 28%; M.S. - 14%; Swift - 16%; Werner 16%. SIGNATURES 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. Date: July 17, 2000 U.S. XPRESS ENTERPRISES, INC. By: /s/ Ray M. Harlin _______________________________ Ray M. Harlin Chief Financial Officer