Deal Details
RXO Completes $500.0 Million Follow-On Offering
Summary
RXO, Inc. (”RXO” or the “Company”) (NYSE: RXO) recently completed an upsized follow-on offering (the “Offering”) of 19,230,770 shares of its common stock at a public offering price of $26.00 per share, generating gross proceeds of approximately $500.0 million. RXO has granted the underwriters a 30-day option to purchase an additional 2,884,615 shares of its common stock. RXO intends to use the net proceeds from the Offering to finance a portion of a pending acquisition of Coyote Logistics. The Offering is not contingent on the consummation of the acquisition. If the acquisition is not consummated, RXO intends to use the net proceeds from the Offering for general corporate purposes.
Baird served as a co-manager on this Offering.
About
RXO is a leading provider of asset-light transportation solutions. RXO offers tech-enabled truck brokerage services together with complementary solutions including managed transportation and last mile delivery. The Company combines massive capacity and cutting-edge technology to move freight efficiently through supply chains across North America. The Company is headquartered in Charlotte, North Carolina.CONTACT US TO LEARN MORE
- Date
- September 2024
- Company
- RXO, Inc.
- Transaction
- Equity Capital Markets
- Sectors
-
Industrial
Technology & Services - Verticals
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Distribution
- Target Geography
- North America
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