RXO Announces Upsizing and Pricing of Common Stock Offering Associated with Financing Acquisition of Coyote Logistics from UPS
RXO, Inc. (RXO)
Company Research
Source: Business Wire
CHARLOTTE, N.C.--(BUSINESS WIRE)--RXO (NYSE: RXO), a leading provider of asset-light transportation solutions, today announced that is has upsized its previously announced public offering of common stock to $500 million in total gross proceeds, pricing 19,230,770 shares of its common stock at a price of $26.00 per share. The offering is expected to close on September 11, 2024, subject to customary closing conditions.RXO has granted the underwriters of the offering an option to purchase up to an additional 2,884,615 shares of common stock at the public offering price less underwriting discounts and commissions.RXO intends to use the net proceeds from the offering to finance a portion of the pending acquisition of Coyote Logistics, UPS’s technology-driven, asset-light freight brokerage business. The offering is not contingent on the consummation of the acquisition. RXO expects that the acquisition will be consummated by September 20, 2024. If the acquisition is not consummated, RXO
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RXO
News
- FedEx losses mount as gloomy outlook permeates transportation sector [Seeking Alpha]Seeking Alpha
- Two RXO Leaders Named Recipients of 2024 Women in Supply Chain AwardBusiness Wire
- RXO, Inc. (NYSE: RXO) had its "outperform" rating re-affirmed by analysts at Oppenheimer Holdings Inc.. They now have a $31.00 price target on the stock.MarketBeat
- RXO Completes Acquisition of Coyote LogisticsBusiness Wire
- UPS Stock Trading Higher Than Industry at 15.1x PE: Time to Sell? [Yahoo! Finance]Yahoo! Finance
RXO
Earnings
- 8/7/24 - In-Line
RXO
Sec Filings
- 9/16/24 - Form 8-K
- 9/11/24 - Form 8-K
- 9/10/24 - Form 424B5
- RXO's page on the SEC website