Business
Werner Announces Pricing of Offering of Common Stock by Founder
OMAHA, Neb., June 03, 2020 (GLOBE NEWSWIRE) -- Werner Enterprises, Inc. (Nasdaq: WERN) today announced the pricing of an underwritten public offering of
About this update from Werner Enterprises, Inc.
[{"type":"text","content":"OMAHA, Neb., June 03, 2020 (GLOBE NEWSWIRE) -- Werner Enterprises, Inc. (Nasdaq: WERN) today announced the pricing of an underwritten public offering of 12,845,930 shares of its common stock by the Clarence L. Werner Revocable Trust, of which our founder Clarence L. Werner is the grantor and sole trustee, at a public offering price of $41.00 per share. In addition, the Clarence L. Werner Revocable Trust has granted the underwriters of the offering a 30-day option to purchase up to an additional 1,284,593 shares of common stock. Morgan Stanley is acting as the sole book-running manager of the offering. The Company is not selling any shares of common stock in the offering, and the Company will not receive any proceeds from the offering by the selling shareholder. Subject to the satisfaction of customary conditions, the offering is expected to close on June 8, 2020.\n A registration statement (including prospectus) relating to these securities was filed with the Securities and Exchange Commission (the “SEC”) and became effective upon filing. Information about the offering is available in the prospectus supplement to be filed by the Company with the SEC. When available, copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014. The offering of these securities is being made solely by means of a prospectus supplement and the accompanying prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Werner Enterprises, Inc. was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Werner maintains its global headquarters in Omaha, Nebraska and maintains offices in the United States, Canada, Mexico and China. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long...