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Provider: Pechala's Reports
Provider: Pechala's Reports
Provider: Reuters Investment Profile
Provider: Thomson Reuters Stock Report

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Roadrunner Transportation Systems Inc Announces Exercise Of Over-Allotment Option

Wednesday, 2 Jan 2013 04:05pm EST 

Roadrunner Transportation Systems Inc announced that the underwriters for its recently announced public offering of common stock exercised in full their over-allotment option to purchase an additional 525,000 shares of common stock at a price of $17.25 per share to the public. The Company expects to receive net proceeds from the sale of the additional shares of approximately $8.5 million after deducting the underwriting discount and estimated expenses, bringing the total net proceeds to the Company from the offering to approximately $63.4 million. The closing of the sale of the additional shares is expected to occur on January 4, 2013. As previously announced, the Company is using 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 served 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. served as co-managing underwriters for the offering. 

Company Quote

-0.37 -1.36%
11 Jul 2014