Co-Manager
U.S. Xpress Enterprises, Inc.
Equity Capital Markets
Initial Public Offering
Transaction Details
- On June 13, 2018, U.S. Xpress Enterprises, Inc. (“USX” or the “Company”) announced the pricing of its initial public offering of 18,056,000 shares of its Class A common stock at a price to the public of $16.00 per share
- The offering consisted of 16,668,000 primary shares offered by USX and 1,388,000 secondary shares offered by family members of the Company’s founders (the “selling stockholders”)
- The selling stockholders also granted the underwriters a 30-day option to purchase up to an additional 2,708,400 shares of USX Class A common stock
- USX Class A shares will be listed on the New York Stock Exchange under the ticker symbol “USX"
- The Company expects to receive net proceeds, after deducting underwriting discounts and commissions but excluding offering expenses, of approximately $250 million from the offering
- Stephens Inc. served as Co-Manager on the offering
About the company
Founded in 1985, U.S. Xpress Enterprises, Inc. is the nation's fifth largest asset-based truckload carrier by revenue, providing services primarily throughout the United States. We offer customers a broad portfolio of services using our own truckload fleet and third-party carriers through our non-asset-based truck brokerage network. Our modern fleet of tractors is backed up by a team of committed professionals whose focus lies squarely on meeting the needs of our customers and our drivers.
Sources: Company filings.
-
This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.
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 links: https://www.sec.gov/Archives/edgar/data/923571/000104746918004376/a2235969zs-1a.htm as supplemented by https://www.sec.gov/Archives/edgar/data/923571/000110465918039295/a18-8533_6fwp.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.