XPO Logistics Announces Closing of $220.5 Million Public Offering of Common Stock
(Thomson Reuters ONE) -
GREENWICH, Conn. - August 13, 2013 - XPO Logistics, Inc. (NYSE: XPO) today
announced the closing of a registered underwritten public offering of 9,694,027
shares of common stock, at a price to the public of $22.75 per share. XPO
Logistics, Inc. ("XPO") has also granted the underwriters in the offering a 30-
day option to purchase up to an additional 1,454,104 shares of common stock from
XPO, at a price of $22.75 per share less the underwriting discount. XPO received
approximately $209 million in net proceeds from the offering after underwriting
discounts and estimated expenses of the offering. XPO intends to use the net
proceeds of the offering, together with cash on hand, to finance the previously
announced acquisition of 3PD Holding, Inc. ("3PD") and to pay related fees and
expenses. If the 3PD acquisition is not completed, XPO will use the net proceeds
of the offering for general corporate purposes, which may include strategic
acquisitions.
Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, and Deutsche Bank
Securities Inc. served as joint book-running managers for the offering. BB&T
Capital Markets, a division of BB&T Securities, LLC, Oppenheimer & Co. Inc.,
Raymond James & Associates, Inc. and Avondale Partners, LLC were co-managers.
The shares were offered pursuant to an effective shelf registration statement
that has been filed with the Securities and Exchange Commission (the "SEC").
Copies of the final prospectus supplement and accompanying prospectus related to
the offering have been filed with the SEC and are available on the SEC's website
at http://www.sec.gov or by contacting Credit Suisse Securities (USA) LLC, Attn:
Prospectus Department, One Madison Avenue, New York, New York 10010, or by
telephone at (800) 221-1037, or by email at newyork.prospectus(at)credit-
suisse.com, Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014-4606, or by telephone at (866) 718-1649
(toll free), or by email at prospectus(at)morganstanley.com or Deutsche Bank
Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005, or
by telephone at (800) 503-4611, or by email at prospectus.cpdg(at)db.com.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction.
About XPO Logistics, Inc.
XPO Logistics, Inc. (NYSE: XPO) is one of the fastest growing providers of
transportation logistics services in North America. The company's three business
units - freight brokerage, expedited transportation and freight forwarding - use
relationships with more than 22,000 ground, sea and air carriers to serve over
8,500 customers in the manufacturing, industrial, retail, commercial, life
sciences and government sectors. XPO is built to deliver constant growth in
truck capacity, passionate service and technological innovation through 62
locations in the United States and Canada.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other than
statements of historical fact are, or may be deemed to be, forward-looking
statements. In some cases, forward-looking statements can be identified by the
use of forward-looking terms such as "anticipate," "estimate," "believe,"
"continue," "could," "intend," "may," "plan," "potential," "predict," "should,"
"will," "expect," "objective," "projection," "forecast," "goal," "guidance,"
"outlook," "effort," "target" or the negative of these terms or other comparable
terms. However, the absence of these words does not mean that the statements are
not forward-looking. These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and our
perception of historical trends, current conditions and expected future
developments, as well as other factors we believe are appropriate in the
circumstances.
These forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions that may cause actual results, levels of activity,
performance or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or implied by such
forward-looking statements. Factors that might cause or contribute to a material
difference include, but are not limited to, those discussed in our filings with
the SEC and the following: economic conditions generally; competition; our
ability to find suitable acquisition candidates and execute our acquisition
strategy; the projected satisfaction of closing conditions for the acquisition
of 3PD Holding, Inc. (the "3PD Transaction"); the expected closing date for the
3PD Transaction; the expected impact of the 3PD Transaction, including the
expected impact on the Company's results of operations; our ability to raise
debt and equity capital; our ability to attract and retain key employees to
execute our growth strategy, including retention of 3PD's management team;
litigation, including litigation related to misclassification of independent
contractors; our ability to develop and implement a suitable information
technology system; our ability to maintain positive relationships with our
network of third-party transportation providers; our ability to retain our and
3PD's largest customers; our ability to successfully integrate 3PD and other
acquired businesses; and governmental regulation. All forward-looking statements
set forth in this press release are qualified by these cautionary statements and
there can be no assurance that the actual results or developments anticipated by
us will be realized or, even if substantially realized, that they will have the
expected consequences to or effects on us or our business or operations.
Forward-looking statements set forth in this press release speak only as of the
date hereof and we do not undertake any obligation to update forward-looking
statements to reflect subsequent events or circumstances, changes in
expectations or the occurrence of unanticipated events except to the extent
required by law.
Investor Contact:
XPO Logistics, Inc.
Dana Gibson, +1-203-930-1470
dana.gibson(at)xpologistics.com
Media Contact:
Brunswick Group
Steve Lipin / Gemma Hart, +1-212-333-3810
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: XPO Logistics, Inc. via Thomson Reuters ONE
[HUG#1722606]
Unternehmensinformation / Kurzprofil:
Datum: 13.08.2013 - 22:05 Uhr
Sprache: Deutsch
News-ID 287476
Anzahl Zeichen: 7844
contact information:
Town:
Greenwich
Kategorie:
Business News
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