J.B. Hunt Transport Offers Shares to Public
by June 10, 2002 12:00 am 64 views
J.B. Hunt Transport Services Inc. of Lowell on May 31 announced the pricing of a public offering of 5.1 million shares of common stock at $26 per share, before underwriting discounts and commissions.
J.B. Hunt is offering 2 million shares, and a selling stockholder is offering 3.1 million.
The company also said that the underwriters have an option to purchase up to 765,000 additional shares from the company to cover any over-allotments.
J.B. Hunt said the proceeds of the offering will go to reducing debt and funding capital expenditures.
Bear Stearns & Co. Inc. is acting as the sole book-running manager for the offering. Joint lead managers are Credit Suisse First Boston Corp. and Deutsche Bank Securities Inc. Co-managers are J.P. Morgan Securities Inc.; BB&T Capital Markets, a division of Scott & Stringfellow Inc.; and Stephens Inc., the Little Rock investment firm.