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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., May. 29, 6:08 AM

Slide #2. Celadon Group Inc. Secondary Offering

Company: Celadon Group Inc. (NYSE:CGI)
Date announced: 5/27/2015
Shares Offered: 3,500,000
Date of Pricing: 5/28/2015
Price Per Share: $23
Secondary Offering Details: Celadon Group Inc. (NYSE: CGI) today announced that it has commenced a public offering of 3,500,000 shares of its common stock. In connection with the offering, the underwriter will have an option for 30 days to purchase up to 525,000 additional shares of common stock. All of the shares included in the offering are primary shares offered by the Company. The Company expects to use the net proceeds from the offering to reduce the outstanding borrowing under its revolving line of credit and for general corporate purposes. - updated 5/28 - Celadon Group, Inc. (NYSE: CGI) (the "Company") today announced that it has entered into an agreement pursuant to which an underwriter has agreed to purchase 3,500,000 shares of the Company's common stock. The Company has also granted the underwriter a 30-day option to purchase up to an additional 525,000 shares on the same terms and conditions, solely to cover over-allotments. The total gross proceeds of the offering (before underwriter's discounts and commissions and estimated offering expenses) will be approximately $80.5 million, without giving effect to the exercise of the option. The Company expects to use the net proceeds from the offering to reduce the outstanding borrowing under its revolving line of credit, for offering fees and expenses, and for general corporate purposes.

Celadon Group is a truckload carrier. As a dry van truckload carrier, Co. transports full trailer loads of freight from origin to destination without intermediate stops or handling. Co.'s international operations provide transportation in and between the U.S. and its two trading partners, Mexico and Canada. Co. also provides a range of truckload transportation services within the U.S., including long-haul, regional, dedicated, less-than-truckload, intermodal, and logistics. Co. provides warehousing and trucking services through Celadon Dedicated Services. Co. also provides less-than-truckload, intermodal, and refrigerated services to all its customers.
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Company Name:  Celadon Group, Inc.
Website:  www.celadontrucking.com
Sector:  Trucking
Number of ETFs Holding CGI:  38
Total Market Value Held by ETFs:  $39.14M
Total Market Capitalization:  $579.00M
% of Market Cap. Held by ETFs:  6.76%
 

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May 29, 2015    6:08 AM Eastern
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Buy (3.43 out of 4)
68th percentile
(ranked higher than approx. 68% of all stocks covered)
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