PR: XPO Logistics announces public offering of common stock

June 28, 2021 07:35 ET | Source: XPO Logistics, Inc.

GREENWICH, Conn., June 28, 2021 (GLOBE NEWSWIRE) — XPO Logistics, Inc. (“XPO” or the “company”) (NYSE: XPO) today announced that it plans to make a registered underwritten offering of 5 million shares of its common stock consisting of an equal number of shares to be offered by XPO and by Jacobs Private Equity, LLC, the selling stockholder and an affiliate of Brad Jacobs, XPO’s chairman and chief executive officer. XPO and the selling stockholder expect to grant the underwriters a 30-day option to purchase up to an aggregate of 750,000 additional shares, which additional shares will also be split equally between XPO and the selling stockholder.

XPO expects to use the net proceeds from this offering to repay a portion of the company’s outstanding borrowings and for general corporate purposes. XPO will not receive any proceeds from the sale of shares by the selling stockholder. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.

Upon completion of the offering, Brad Jacobs and his affiliates will own approximately 13.58% of XPO’s outstanding shares of common stock (or approximately 13.21% assuming full exercise of the underwriters’ option to purchase additional shares).

Goldman Sachs & Co. LLC, Citigroup and Barclays are the joint book-running managers for the offering.

A shelf registration statement relating to the securities being offered was filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective on April 2, 2021. A preliminary prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available at the SEC’s website located at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

Any offers of the company’s common stock will be made only by means of a prospectus and the related preliminary prospectus supplement, copies of which may be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-212-902-1171 or email: [email protected], or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146, or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or email: [email protected] or telephone at 1-888-603-5847.

The full release can be found here.

For the full details, the Form 424B5 is here.

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