Universal Truckload Services, Inc. Announces Pricing of Public Offering of
WARREN, Mich., April 29, 2014
WARREN, Mich., April 29, 2014 /PRNewswire/ -- Universal Truckload Services,
Inc. (the "Company") (NASDAQ: UACL) today announced the pricing of its
previously announced public offering of 1,900,000 shares of common stock at a
public offering price of $26.00 per share. In the offering, 1,880,000 shares
were offered by the selling stockholders and 20,000 shares were offered by the
Company. In connection with the offering, the selling stockholders have
granted the underwriter an option to purchase up to 190,000 additional shares
of common stock. The Company will not receive any of the proceeds from the
offering of shares by the selling stockholders and will use the net proceeds
from its offering of common stock to pay associated offering expenses. The
offering is expected to close on May 2, 2014. Morgan Stanley & Co. LLC acted
as sole underwriter for the offering.
The offering is being made pursuant to the Company's currently effective shelf
registration statement filed with the U.S. Securities and Exchange Commission
("SEC"). The offering of these securities may only be made by means of a
prospectus supplement and accompanying prospectus, forming a part of the
effective registration statement. Before investing, you should read the
prospectus supplement and the accompanying prospectus for information about
the Company, the selling stockholders and this offering. A prospectus
supplement relating to the offering will be filed with the SEC and will be
available on the SEC's website at http://www.sec.gov. Alternatively, copies of
the prospectus and prospectus supplement, when available, may be obtained from
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New York, New York 10014.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities nor will there be any sale of these
securities in any state or other 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 other jurisdiction.
About Universal Truckload Services, Inc.:
Universal Truckload Services, Inc. is a leading asset-light provider of
customized transportation and logistics solutions throughout the United
States, Mexico and Canada. We provide our customers with supply chain
solutions that can be scaled to meet their changing demands and volumes. We
offer our customers a broad array of services across their entire supply
chain, including transportation, value-added, and intermodal services.
Cautionary Statement Regarding Forward-Looking Statements:
Some of the statements contained in this press release might be considered
forward-looking statements. These statements identify prospective information.
Forward-looking statements are based on information available at the time
and/or management's good faith belief with respect to future events and are
subject to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the statements. These
forward-looking statements are subject to a number of factors that may cause
actual results to differ materially from the expectations described.
Additional information about the factors that may adversely affect these
forward-looking statements is contained in the Company's reports and filings
with the Securities and Exchange Commission. The Company assumes no obligation
to update forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws.
SOURCE Universal Truckload Services, Inc.
Contact: David A. Crittenden, Chief Financial Officer, DCrittenden@goutsi.com,
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