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XPO Logistics Inc Announces Closing Of $220.5 Million Public Offering Of Common Stock

Tuesday, 13 Aug 2013 04:05pm EDT 

XPO Logistics Inc announced the closing of a registered underwritten public offering of 9,694,027 shares of common stock, at a price to the public of $22.75 per share. XPO Logistics, Inc. (XPO) has also granted the underwriters in the offering a 30-day option to purchase up to an additional 1,454,104 shares of common stock from XPO, at a price of $22.75 per share less the underwriting discount. XPO received approximately $209 million in net proceeds from the offering after underwriting discounts and estimated expenses of the offering. XPO intends to use the net proceeds of the offering, together with cash on hand, to finance the previously announced acquisition of 3PD Holding, Inc. (3PD) and to pay related fees and expenses. If the 3PD acquisition is not completed, XPO will use the net proceeds of the offering for general corporate purposes, which may include strategic acquisitions. Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, and Deutsche Bank Securities Inc. served as joint book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, Oppenheimer & Co. Inc., Raymond James & Associates, Inc. and Avondale Partners, LLC were co-managers. 

Company Quote

-1.54 -3.11%
4 May 2015