RXO Prices $500M Upsized Upsizing Common Stock Offering Of 19,230,770 Shares At $26/Share, For Coyote Logistics Purchase
Portfolio Pulse from Benzinga Newsdesk
RXO has announced an upsized public offering of $500 million in common stock to finance its acquisition of Coyote Logistics. The offering is priced at $26 per share and is expected to close on September 11, 2024. The acquisition is expected to be completed by September 20, 2024.
September 10, 2024 | 6:55 am
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RXO has upsized its public offering to $500 million to fund the acquisition of Coyote Logistics. The offering is priced at $26 per share and is expected to close on September 11, 2024. This move is aimed at expanding RXO's asset-light transportation solutions.
The upsized offering indicates strong demand and confidence in RXO's strategic acquisition of Coyote Logistics. This could positively impact RXO's stock price as it expands its market presence in asset-light transportation solutions.
CONFIDENCE 95
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