Affiliates of Baker Street, Stone House sold 2 million common shares
By Devika Patel
Knoxville, Tenn., May 20 – USA Truck, Inc. said the underwriters for its secondary offering of stock opted to exercise the deal’s $5.22 million greenshoe in full, lifting total proceeds of the offering to $40 million. The deal priced for $34.78 million with the greenshoe on May 15.
The selling shareholders, who were affiliates of Baker Street Capital Management, LLC and Stone House Capital Management, LLC, sold 2 million common shares at $20.00 apiece. The price per share reflects a 9.95% discount to the May 14 closing share price of $22.21. Of the shares, 260,869 were part of the fully exercised greenshoe.
Stephens Inc. was the bookrunner.
The company did not receive any proceeds from the secondary sale.
The company is a truckload carrier based in Van Buren, Ark.
| Issuer: | USA Truck, Inc.
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| Issue: | Common stock
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| Amount: | $40 million, including $5,217,380 greenshoe of 260,869 shares
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| Shares: | 2 million
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| Price: | $20.00
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| Warrants: | No
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| Bookrunner: | Stephens Inc.
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| Lead manager: | Cowen and Co.
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Stock symbol: | Nasdaq: USAK
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| Stock price: | $22.21 at close May 14
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| Market capitalization: | $245.82 million
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