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XPO Logistics Inc Announces Full Exercise Of Underwriters' Option For 1,454,104 Shares Of Common Stock


Monday, 19 Aug 2013 08:25am EDT 

XPO Logistics Inc announced that the underwriters of its public offering of 9,694,027 shares of common stock, completed on August 13, 2013, have exercised their 30-day option in full and purchased an additional 1,454,104 shares of XPO Logistics, Inc. common stock, at a price of $22.75 per share less the underwriting discount. XPO received additional net proceeds of approximately $31.4 million from the exercise of the 30-day option, bringing the Company's total net proceeds from the offering to approximately $240.4 million, after underwriting discounts and estimated expenses. Following the closing of XPO's acquisition of 3PD Holding, Inc. on August 15, 2013, XPO intends to use the net proceeds from the exercise of the 30-day option 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

38.76
1.0 +2.65%
26 Jan 2015