Follow-on Offering

Technology & Services
Industrial
Follow-on Offering

Summary

Baird served as a co-manager on this offering

About

Werner Enterprises, Inc. (“Werner” or “the Company”) (NASDAQ-GS: WERN) recently completed a follow-on offering of 12,845,930 shares of its common stock by the Clarence L. Werner Revocable Trust at a public offering price of $41.00 per share, generating gross proceeds of approximately $526.7 million. In addition, the Clarence L. Werner Revocable Trust has granted the underwriters of the offering a 30-day option to purchase up to an additional 1,284,593 shares of common stock. The Company did not receive any proceeds from the offering by the selling shareholder.

Werner was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and expedited van; and temperature-controlled. The Werner Logistics portfolio includes truck brokerage, freight management, intermodal, international and final mile services. International services are provided through Werner’s domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding; and customs brokerage. Werner Enterprises, Inc. is headquartered in Omaha, Nebraska.
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Technology & Services
Industrial
Follow-on Offering
Date
June 2020
Company
Werner Enterprises, Inc.
Transaction
M&A
Sectors
Technology & Services
Industrial
Target Location
North America

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