U.S.-based Roadrunner Transportation Systems Inc., asset-right transportation and logistics solutions provider, has completed with $450 million in its rights offering.
Roadrunner sold and issued an aggregate of 900 million new shares of common stock at the subscription price of $0.5 per share.
In addition, the company also issued 177.7 million shares pursuant to the exercise of basic subscription rights and over-subscription rights from stockholders.
Roadrunner will use the money raised to fully redeem its outstanding shares, pay related accrued and unpaid dividends, settle down fees and expenses and for general corporate purposes.