RXO upsizes and prices $500M common stock offering at $26/share to fund Coyote Logistics acquisition

RXO, Inc.

RXO upsized offering to $500M gross proceeds, priced 19,230,770 shares at $26.00/share; underwriter option for additional 2,884,615 shares.
Net proceeds ~$479M after estimated offering expenses; expected to close September 11, 2024.
Proceeds to partially finance pending acquisition of Coyote Logistics from UPS; acquisition expected by September 20, 2024.
If acquisition not consummated, proceeds to be used for general corporate purposes; offering not contingent on acquisition.
Joint book-running managers: Goldman Sachs, BofA Securities, Citigroup, Morgan Stanley; additional managers listed.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.