Roadrunner Transportation Systems Inc Announces Pricing of Common Stock Offering

Thursday, 6 Dec 2012 08:30am EST 

Roadrunner Transportation Systems Inc announced that it priced a public offering of 3,500,000 shares of common stock at a price of $17.25 per share to the public. A total of 3,400,000 shares are being sold by the Company and 100,000 shares are being sold by a selling stockholder. The Company has granted the underwriters in the offering an option to purchase up to 525,000 additional shares of common stock at the same price per share to cover any over-allotments. The offering is expected to close on December 11, 2012. Assuming no exercise of the underwriters' over-allotment option, the Company expects to receive net proceeds from the offering of approximately $54.9 million after deducting the underwriting discount and estimated expenses of the offering. The Company expects to use the net proceeds from the offering to repay the outstanding indebtedness under its revolving line of credit and for working capital and other general corporate purposes. Robert W. Baird & Co. Incorporated is serving as the book-running manager for the offering. BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and SunTrust Robinson Humphrey, Inc. are serving as co-managing underwriters for the offering. 

Company Quote

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24 Oct 2014