Roadrunner Transportation Systems Announces Plans for Rights Offering to Stockholders
ROADRUNNER TRANS SYS INC (RRTS)
Last roadrunner trans sys inc earnings: 3/26 04:15 pm
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US:NYSE Investor Relations:
rrts.com/investors
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Source: Business Wire
DOWNERS GROVE, Ill.--(BUSINESS WIRE)-- Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “company”) (NYSE: RRTS), a leading asset-right transportation and asset-light logistics service provider, announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) for a rights offering to existing holders of its common stock. This rights offering is expected to be supported by a commitment that is being negotiated with certain funds affiliated with Elliott Management Corporation (collectively, “Elliott”) to purchase all unsubscribed shares of the company’s common stock (the “backstop commitment”) to ensure that the rights offering is fully subscribed. The company expects to receive gross proceeds of approximately $450 million before fees and expenses. The purpose of the rights offering is to improve and simplify the company’s capital structure in a m
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