TheTrucker.com

Trading begins on U.S. Xpress stock

Reading Time: < 1 minute

CHATTANOOGA, Tenn. — U.S. Xpress Enterprises Wednesday said the pricing of its initial public offering of 18,056,000 shares of Class A common stock at $16 per share.

U.S. Xpress is issuing and selling 16,668,000 shares and the selling stockholders named in the registration statement are selling 1,388,000 shares.

The Company’s Class A common stock began trading on The New York Stock Exchange under the symbol “USX” Thursday.

The offering is expected to close on June 18, 2018.

In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,708,400 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.

The company expects to receive net proceeds, after deducting underwriting discounts and commissions but excluding offering expenses, of approximately $250 million from the offering.

Bank of America Merrill Lynch and Morgan Stanley are acting as lead book-running managers for the offering.

J.P. Morgan and Wells Fargo Securities are acting as additional book-running managers, and Stephens Inc., Stifel, and Wolfe Capital Markets and Advisory are acting as co-managers for the offering.

The Trucker News Staff

The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.

Avatar for The Trucker News Staff
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
For over 30 years, the objective of The Trucker editorial team has been to produce content focused on truck drivers that is relevant, objective and engaging. After reading this article, feel free to leave a comment about this article or the topics covered in this article for the author or the other readers to enjoy. Let them know what you think! We always enjoy hearing from our readers.

Trading begins on U.S. Xpress stock

Comment

Pingback: My Homepage

COMMENT ON THIS ARTICLE

Clark Transfer