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Roadrunner Transportation Systems Inc Announces Pricing of Common Stock Offering

Tuesday, 13 Aug 2013 09:44pm EDT 

Roadrunner Transportation Systems Inc announced that it priced a public offering of 4,300,000 shares of common stock, an increase over the Company's previously announced public offering of 3,500,000 shares, at a price of $27.00 per share to the public. A total of 1,500,000 shares are being sold by the Company and 2,800,000 shares are being sold by selling stockholders. The selling stockholders have granted the underwriters in the offering an option to purchase up to 645,000 additional shares of common stock at the same price per share to cover any over-allotments. The offering is expected to close on August 19, 2013. The Company expects to receive net proceeds from the offering of approximately $38.0 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 a portion of the outstanding indebtedness under its revolving line of credit and for other general corporate purposes. Robert W. Baird & Co. Incorporated, Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. are serving as the book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, is serving as co-managing underwriter for the offering. 

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