XPO Logistics Nets $137 Million from Stock Offering

The third-party logistics company said it offered 9.2 million shares of its common stock, including 1.2 million shares sold through the underwriters’ overallotment option, at a price to the public of $15.75 per share.

Last week, the company boosted the size of the public offering from 6 million shares to 8 million.

In a statement, XPO said it intends to use the proceeds for “general corporate purposes, which may include potential acquisitions.”