U.S. Xpress Enterprises, Inc. (“U.S. Xpress” or the “Company”) announced
today that it has closed its initial public offering of 18,056,000
shares of its Class A common stock and the full exercise of the
underwriters’ option to purchase 2,708,400 additional shares, at an
initial public offering price of $16.00 per share. U.S. Xpress sold
16,668,000 shares and the selling stockholders named in the registration
statement sold 4,096,400 shares, including the shares sold upon exercise
of the underwriters’ option to purchase additional shares. Total net
proceeds to U.S. Xpress from the offering, after deducting underwriting
discounts and commissions but before expenses, were approximately $250.0
million. The Company’s Class A common stock began trading on the New
York Stock Exchange under the symbol “USX” on June 14, 2018.
BofA Merrill Lynch and Morgan Stanley acted as lead book?running
managers for the offering. J.P. Morgan and Wells Fargo Securities acted
as additional book?running managers, and Stephens Inc., Stifel, and
Wolfe Capital Markets and Advisory acted as co?managers for the offering.
The offering of these securities was made only by means of a prospectus.
Copies of the final prospectus relating to the offering may be obtained
from BofA Merrill Lynch, NC1?004?03?43, 200 North College Street, 3rd
Floor, Charlotte, North Carolina 28255?0001, Attention: Prospectus
Department, or by email at firstname.lastname@example.org
and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York, New York 10014.
A registration statement on Form S-1 relating to these securities has
been filed with, and declared effective by, the Securities and Exchange
Commission. This news release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
About U.S. Xpress Enterprises, Inc.
Founded in 1985, U.S. Xpress Enterprises, Inc. is the nation’s fifth
largest asset?based truckload carrier by revenue, providing services
primarily throughout the United States. We offer customers a broad
portfolio of services using our own truckload fleet and third?party
carriers through our non?asset?based truck brokerage network. Our modern
fleet of tractors is backed up by a team of committed professionals
whose focus lies squarely on meeting the needs of our customers and our
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