Old Dominion Freight Line Inc., Thomasville, N.C., has announced a public offering of 2.44 million shares of its common stock at a price of $28.65 per share.
Of the shares being offered, 2.07 million shares are being offered by selling shareholders and 370,000 shares are being offered by Old Dominion.
In addition, Old Dominion has granted the underwriters a 30-day option to purchase up to an additional 366,000 shares of its common stock to cover over-allotments, if any. The proceeds to be received by Old Dominion are expected to be used to repay certain indebtedness.
Of the shares being offered, 2.07 million shares are being offered by selling shareholders and 370,000 shares are being offered by Old Dominion.
In addition, Old Dominion has granted the underwriters a 30-day option to purchase up to an additional 366,000 shares of its common stock to cover over-allotments, if any. The proceeds to be received by Old Dominion are expected to be used to repay certain indebtedness.
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