TAMPA, Fla., Aug. 8, 2013 (GLOBE NEWSWIRE) -- Quality Distribution, Inc. (Nasdaq:QLTY) ("Quality") announced today that the previously announced underwritten secondary offering of 4,269,741 shares of its common stock by certain stockholders of Quality (the "Selling Stockholders"), including funds affiliated with Apollo Global Management, LLC, priced at $8.60 per share. The Selling Stockholders have granted to the underwriters of the secondary offering an option to purchase up to 426,974 shares of additional common stock. Quality will not receive any proceeds from the sale of the shares by the Selling Stockholders in this offering. The offering is expected to be consummated on August 14, 2013, subject to certain customary conditions.
The offering is being made pursuant to Quality's registration statement on Form S-3 filed with the Securities and Exchange Commission. BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint bookrunning managers for the offering. The co-managers for the offering are SunTrust Robinson Humphrey, Inc., BB&T Capital Markets, RBC Capital Markets, LLC and Avondale Partners, LLC.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor does it constitute an offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, or by email at firstname.lastname@example.org; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, New York 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: email@example.com; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or telephone: 1-866-803-9204; or by contacting Quality Distribution, Inc., 4041 Park Oaks Boulevard, Suite 200, Tampa, Florida 33610, Attn: Corporate Secretary.
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