Roadrunner Transportation Systems, Inc. (NYSE: RRTS), a leading asset-light transportation and logistics services provider, announced today that the underwriters for its recently announced public offering of common stock exercised in full their over-allotment option to purchase an additional 525,000 shares of common stock at a price of $17.25 per share to the public. The Company expects to receive net proceeds from the sale of the additional shares of approximately $8.5 million after deducting the underwriting discount and estimated expenses, bringing the total net proceeds to the Company from the offering to approximately $63.4 million. The closing of the sale of the additional shares is expected to occur on January 4, 2013. As previously announced, the Company is using the net proceeds from the offering to repay the outstanding indebtedness under its revolving line of credit and for working capital and other general corporate purposes.
Robert W. Baird & Co. Incorporated served as the book-running manager for the offering. BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and SunTrust Robinson Humphrey, Inc. served as co-managing underwriters for the offering. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from the offices of Robert W. Baird & Co. Incorporated, 777 East Wisconsin Avenue, 28th Floor, Milwaukee, Wisconsin 53202-5391, or by calling 1-800-792-2473. Electronic copies of the prospectus and the prospectus supplement are available on the Securities and Exchange Commission’s Web site at www.sec.gov.
The shares are being offered pursuant to an effective registration statement. This press release does not constitute an offer to sell these securities or a solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.