Underwriter
RXO (NYSE: RXO)
Equity Capital Markets
Follow-On Offering
Transaction Details
- On September 10, 2024, RXO (NYSE: RXO) (“RXO” or the “Company”) announced the upsizing and pricing of an underwritten public offering of 19,230,770 shares of its common stock at a public offering price of $26.00 per share
- The offering consisted of 100% primary shares offered by RXO
- RXO also granted the underwriters a 30-day option to purchase up to an additional 2,884,615 shares of its common stock
- RXO intends to use the net proceeds from the offering to finance a portion of the pending acquisition of Coyote Logistics, UPS’s technology-driven, asset-light freight brokerage business. The offering is not contingent on the consummation of the acquisition.
- RXO expects that the acquisition will be consummated by September 20, 2024. If the acquisition is not consummated, RXO intends to use the net proceeds from the offering for general corporate purposes
About the company
RXO (NYSE: RXO) is a leading provider of asset-light transportation solutions. RXO offers tech-enabled truck brokerage services together with complementary solutions including managed transportation and last mile delivery. The company combines massive capacity and cutting-edge technology to move freight efficiently through supply chains across North America. The company is headquartered in Charlotte, N.C.
Sources: Company filings and press release.
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The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following
link: https://www.sec.gov/Archives/edgar/data/1929561/000110465924097978/tm2423272-3_424b5.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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