Tuesday, April 24, 2018

Con-way raises $143.7 million in offering


Friday, May 21, 2010
Con-way said it will use the money from its stock sale for general corporate purposes, including working capital requirements and capital expenditures.
Con-way said it will use the money from its stock sale for general corporate purposes, including working capital requirements and capital expenditures.

SAN MATEO, Calif. — Trucking company Con-way Inc. says its public offering of 4.3 million shares of its common stock at $35 per share raised roughly $143.7 million in net proceeds.

That figure is before estimated expenses, the company said in a statement Wednesday.

The company said it will use the money for general corporate purposes, including working capital requirements and capital expenditures.

The underwriters were granted a 30-day option to purchase up to 645,000 additional shares to cover overallotments, if any. Unless exercised, the option will expire on June 11.

Kevin Jones of The Trucker staff can be reached for comment at kevinj@thetrucker.com.

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