Roadrunner Transportation Systems, Inc. (NYSE: RRTS), a leading asset-light transportation and logistics services provider, announced today that it priced a public offering of 4,300,000 shares of common stock, an increase over the Company’s previously announced public offering of 3,500,000 shares, at a price of $27.00 per share to the public. A total of 1,500,000 shares are being sold by the Company and 2,800,000 shares are being sold by selling stockholders. The selling stockholders have granted the underwriters in the offering an option to purchase up to 645,000 additional shares of common stock at the same price per share to cover any over-allotments. The offering is expected to close on August 19, 2013.
The Company expects to receive net proceeds from the offering of approximately $38.0 million after deducting the underwriting discount and estimated expenses of the offering. The Company expects to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its revolving line of credit and for other general corporate purposes.
Robert W. Baird & Co. Incorporated, Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. are serving as the book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, is serving as co-managing underwriter 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, by calling 1-800-792-2473, or by e-mailing firstname.lastname@example.org; from the offices of Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department, by calling 1-866-718-1649, or by e-mailing email@example.com; or from the offices of Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, by calling 1-800-503-4611, or by e-mailing firstname.lastname@example.org. Electronic copies of the prospectus and the prospectus supplement will be 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.