RXO announces $350M common stock offering to partly fund Coyote Logistics acquisition from UPS

RXO, Inc.

$350M common stock offering; underwriters option for additional $52.5M.
Proceeds to finance portion of pending acquisition of Coyote Logistics from UPS.
Acquisition expected close by Sep 20, 2024; offering not contingent on closing.
Joint book-runners: Goldman Sachs, BofA Securities, Citigroup, Morgan Stanley.
If acquisition not consummated, proceeds for general corporate purposes.

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