Truckload and logistics services provider, Transport America, has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock.
The number of shares to be offered and the price range for the offering have not yet been determined, according to the company, however, the Star Tribune newspaper reports the Minnesota-based operation is looking to raise $75 million to retire long-term debt.
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective meaning these securities may not be sold and offers to buy may not be accepted prior to the time the registration statement becomes effective.
According to FMCSA records Transport America has nearly 1,900 power units and close to 2,200 drivers. It has been in business since 1984.