Cudahy-based Roadrunner Transportation Systems Inc. has announced a public offering of 3.5 million shares of common stock, 1.5 million of which will come from the company.
Selling stockholders will contribute 2 million shares, and will grant the underwriters an option to purchase another 525,000 at the same price in the case of over-allotments.
Roadrunner plans to use the net proceeds of the offering to pay off debts related to its revolving line of credit, and for other corporate needs.
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The transportation and logistics service provider reported second quarter net income of $13.9 million, up 36.9 percent from 2012, and is expecting third quarter results to outpace the same period last year.
