U.S. Xpress closes stock offering

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CHATTANOOGA, Tenn. — U.S. Xpress Enterprises said Monday that it has closed its initial public offering of 18,056,000 shares of its Class A common stock and the full exercise of the underwriters’ option to purchase 2,708,400 additional shares, at an initial public offering price of $16 per share.

U.S. Xpress sold 16,668,000 shares and the selling stockholders named in the registration statement sold 4,096,400 shares, including the shares sold upon exercise of the underwriters’ option to purchase additional shares.

Total net proceeds to U.S. Xpress from the offering, after deducting underwriting discounts and commissions but before expenses, were approximately $250.0 million.

The Company’s Class A common stock began trading on the New York Stock Exchange under the symbol “USX” on June 14, 2018.

BofA Merrill Lynch and Morgan Stanley acted as lead book?running managers for the offering. J.P. Morgan and Wells Fargo Securities acted as additional book?running managers, and Stephens Inc., Stifel, and Wolfe Capital Markets and Advisory acted as co?managers for the offering.

The offering of these securities was made only by means of a prospectus.

Copies of the final prospectus relating to the offering may be obtained from BofA Merrill Lynch, NC1?004?03?43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255?0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@baml.com and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.

Founded in 1985, U.S. Xpress Enterprises is the nation’s fifth largest asset?based truckload carrier by revenue, providing services primarily throughout the United States, offering a broad portfolio of services using our own truckload fleet and third?party carriers through its non?asset?based truck brokerage network.

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