XPO Logistics to Sell Shares in Public Offering

XPO Logistics said Monday that it plans to make an offering of 11 million shares of its common stock in a registered underwritten offering. XPO said it expects to grant the underwriters a 30-day option to purchase up to nearly 1.7 million additional shares.

The company noted that it plans to enter into forward sale agreements with Morgan Stanley & Co. LLC and an affiliate of J.P. Morgan Securities LLC with respect to some of the shares of its common stock included in the offering. XPO said it plans to use net proceeds for general corporate purposes, which may include strategic acquisitions and the repayment or refinancing of outstanding indebtedness.

Add Comment