U.S. Xpress Enterprises Completes Stock Offering

Chattanooga, TN, December 16–U.S. Xpress Enterprises, parent of Xpress Global Systems, a provider of transportation, warehousing, and distribution services to the floorcovering industry, completed the public offering of 4 million shares of its Class A common stock at $25.25 per share.

Of these shares, the company sold 2,000,000 shares; Patrick E. Quinn, the company’s co-chairman, president, and treasurer and Max L. Fuller, the company’s co-chairman, chief executive officer, and secretary sold 900,000 shares each; and related family partnerships sold 200,000 shares.

The offering generated net proceeds to the company of approximately $47.7 million. Certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of Common Stock to cover over-allotments.

The offering was made through an underwriting syndicate comprised of Legg Mason Wood Walker, Incorporated; Morgan Keegan & Company, Inc.; BB&T Capital Markets, a division of Scott & Stringfellow, Inc.; and Stephens Inc.

U.S. Xpress Enterprises, Inc. is the fifth largest publicly owned truckload carrier in the United States, measured by revenue.