XPO Logistics, Inc. : XPO Logistics Announces Full Exercise of Underwriters'
Option for 1,454,104 Shares of Common Stock
GREENWICH, Conn.- August 19, 2013 - XPO Logistics, Inc. (NYSE: XPO) today
announced that the underwriters of its public offering of 9,694,027 shares of
common stock, completed on August 13, 2013, have exercised their 30-day option
in full and purchased an additional 1,454,104 shares of XPO Logistics, Inc.
("XPO") common stock, at a price of $22.75 per share less the underwriting
discount. XPO received additional net proceeds of approximately $31.4 million
from the exercise of the 30-day option, bringing the company's total net
proceeds from the offering to approximately $240.4 million, after underwriting
discounts and estimated expenses. Following the closing of XPO's acquisition
of 3PD Holding, Inc. on August 15, 2013, XPO intends to use the net proceeds
from the exercise of the 30-day option 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
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
email@example.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
firstname.lastname@example.org 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 email@example.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, offering freight
brokerage, last-mile logistics, expedited transportation and freight
forwarding services. The company uses its relationships with more than 22,000
ground, sea and air carriers to serve over 8,600 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 89 locations in the United States
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 expected impact of the acquisition
of 3PD Holding, Inc. (the "3PD Transaction"), including the expected impact on
our 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.
XPO Logistics, Inc.
Dana Gibson, +1-203-930-1470
Steve Lipin / Gemma Hart, +1-212-333-3810
This announcement is distributed by Thomson Reuters on behalf of Thomson
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
information contained therein.
Source: XPO Logistics, Inc. via Thomson Reuters ONE
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