U.S. Xpress Enterprises Announces Intention to Pursue Initial Public Offering
Chattanooga, TN, (May 7, 2018) – U.S. Xpress Enterprises, Inc. (“U.S. Xpress” or the “Company”) today announced that it has begun the process of pursuing an Initial Public Offering of its Class A common stock by submitting a registration statement on Form S-1 to the U.S. Securities and Exchange Commission. The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined. U.S. Xpress intends to list its Class A common stock on The New York Stock Exchange under the symbol “USX.”
BofA Merrill Lynch and Morgan Stanley will act as lead book-running managers for the proposed offering. J.P. Morgan and Wells Fargo Securities will act as additional book-running managers, and Stephens Inc., Stifel, and Wolfe Capital Markets and Advisory will act as co-managers for the proposed offering.
The proposed offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at firstname.lastname@example.org and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About U.S. Xpress Enterprises, Inc.
Founded in 1985, U.S. Xpress Enterprises, Inc. is the nation’s fifth largest asset-based truckload carrier by revenue, providing services primarily throughout the United States. We offer customers a broad portfolio of services using our own truckload fleet and third-party carriers through our non-asset-based truck brokerage network. Our modern fleet of tractors is backed up by a well-maintained terminal network and information technology infrastructure and the latest safety technology.
This press release contains forward-looking statements, including statements about the proposed offering. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of risk factors and uncertainties discussed in documents filed by U.S. Xpress Enterprises, Inc. with the SEC. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.