XPO corrects share price of $30 million private placement of its stock

Louis DeJoy purchases shares alongside planned merger with New Breed

By Devika Patel

Knoxville, Tenn., July 31 – XPO Logistics, Inc. corrected the price-per-share of a $30 million private placement of stock with Louis DeJoy that priced on July 29 and was announced on July 30 in an 8-K filed Thursday with the Securities and Exchange Commission.

Of the shares, half are being sold at a price equal to the closing price of the company’s stock on July 29, which was $26.03. The remaining half of the shares will be sold at a price equal to the closing price of the stock on the trading day preceding the settlement date of the company’s planned merger with New Breed Holding Co.

The company had announced on Wednesday that it was selling the shares at a price equal to the closing price of the company’s stock on the trading day preceding the merger settlement.

The deal is being conducted in connection with the merger. DeJoy is the chief executive officer of New Breed.

Greenwich, Conn.-based XPO is a transportation services company.

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