Deal Details
Follow-On Offering
Summary
Baird served as the lead bookrunner on this offering
About
Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “Company”) (NYSE: RRTS), a portfolio company of HCI Equity Partners, recently completed a follow-on offering of 4,945,000 shares of common stock at a price of $27.00 per share, generating gross proceeds of approximately $133.5 million. A total of 1,500,000 shares were sold by the Company and 3,445,000 shares were sold by selling stockholders. Roadrunner will not receive any proceeds associated with the shares sold by the selling stockholders. The Company expects to use the net proceeds of $38.0 million that it receives from the offering to repay a portion of the outstanding indebtedness under its revolving line of credit and for other general corporate purposes.Roadrunner is a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and logistics, transportation management solutions, intermodal solutions, freight consolidation, inventory management, expedited services, international freight forwarding, customs brokerage, and comprehensive global supply chain solutions. The Company is headquartered in Cudahy, Wisconsin
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- Date
- August 2013
- Company
- Roadrunner Transportation Systems, Inc.
- Transaction
- M&A
- Sectors
- Industrial
- Target Geography
- North America
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