U.S. Xpress Enterprises, Inc. (USX) Prices 18.06M Share IPO at $16/Sh

U.S. Xpress Enterprises, Inc. (NYSE: USX) announced today the pricing of its initial public offering of 18,056,000 shares of Class A common stock, at a price to the public of $16.00 per share. U.S. Xpress is issuing and selling 16,668,000 shares and the selling stockholders named in the registration statement are selling 1,388,000 shares. The Company’s Class A common stock is expected to begin trading on The New York Stock Exchange under the symbol “USX” on June 14, 2018. The offering is expected to close on June 18, 2018.

In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,708,400 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.

The Company expects to receive net proceeds, after deducting underwriting discounts and commissions but excluding offering expenses, of approximately $250 million from the offering.

BofA Merrill Lynch and Morgan Stanley are acting as lead book-running managers for the offering. J.P. Morgan and Wells Fargo Securities are acting as additional book-running managers, and Stephens Inc., Stifel, and Wolfe Capital Markets and Advisory are acting as co-managers for the offering.

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