RXO, Inc. Announces $350M Offering to Fund Coyote Acquisition

RXO, Inc. ( (RXO) ) has provided an update.

RXO, Inc., a leader in asset-light transportation solutions, has announced a public offering of $350 million in common stock, with the option for underwriters to purchase an additional $52.5 million. The funds are earmarked to partially finance the acquisition of Coyote Logistics from UPS, though the offering is not contingent on the acquisition’s completion. If the deal does not go through, RXO will use the proceeds for general corporate purposes. The offering will be managed by Goldman Sachs & Co. LLC, BofA Securities, Citigroup, and Morgan Stanley, among others.

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