XPO Logistics Begins Public Offering Of 8.00 Mln Shares - Quick Facts

(RTTNews) - XPO Logistics Inc. (XPO) announced that it has commenced an underwritten public offering of 8.00 million shares of its common stock, subject to market and other conditions.

The company said it expects to grant the underwriters in the offering a 30-day option to purchase up to an additional 1.20 million shares of its common stock. Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. will act as joint book-running managers for the offering.

The company stated that it intends to use the net proceeds of this 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.