Deal Details
Werner Completes $526.7 Million Follow-On Offering
Summary
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.
Baird served as a co-manager on this offering.
About
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.CONTACT US TO LEARN MORE
- Date
- June 2020
- Company
- Werner Enterprises, Inc.
- Transaction
- Equity Capital Markets
- Sectors
-
Technology & Services
Industrial - Verticals
-
Distribution
- Target Geography
- North America
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