Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Roadrunner Transportation Closes $450 Million Rights Offering

The $450 million rights offering will allow Roadrunner Transportation to pay down debts and expenses and refocus the company after a tumultuous 2018. 

February 28, 2019
Roadrunner Transportation Closes $450 Million Rights Offering

The rights offering allowed Roadrunner Transportation to pay down debts and expenses and refocus the company after a tumultuous 2018. 

Credit:

Creative Commons

2 min to read


Roadrunner Transportation Systems announced the closing of a $450 million rights offering in which the company sold and issued an aggregate of 900,000,000 new shares of common stock.

The stocks were sold at a subscription price of 50 cents per share. The rights offering will allow Roadrunner to pay down debts and expenses and refocus the company. Roadrunner has retained in excess of $30 million of net cash proceeds to be used for general corporate purposes.

Ad Loading...

The purpose of the rights offering was to improve and simplify the company’s capital structure in a manner that gives the company’s existing stockholders the opportunity to participate on a pro rata basis.

“We believe the simplification and improvement of our capital structure accomplished through the rights offering will support our long-term business plans and increase the speed and likelihood of a full operational recovery for Roadrunner,” said Curt Stoelting, CEO of Roadrunner.

A majority of the stocks sold through the rights offering were purchased by stockholders who are affiliated with Elliott Management Corporation. Elliott purchased a total of 843,632,693 shares of the Roadrunner's common stock between its basic subscription rights and backstop commitment, and now beneficially owns approximately 90.4% of the company’s common stock.

Roadrunner ran into financial troubles last year, when its financial reporting practices came under scrutiny because the company failed to fully report losses. An investigation by the U.S. Justice Department resulted in two former Roadrunner executives being indicted for their role in an alleged accounting fraud scheme.

More Fleet Management

Daimler-Class8 partnership.
Fleet Managementby News/Media ReleaseFebruary 2, 2026

DTNA Partners with Class8 to Expand Digital Services for Freightliner Owner-Operators

A new partnership brings free wireless ELD service plus load optimization and dispatch planning tools to fourth- and fifth-generation Freightliner Cascadia customers, with broader model availability planned through 2026.

Read More →
SponsoredFebruary 1, 2026

Reducing Fleet Downtime with Advanced Diagnostics

This white paper examines how advanced commercial vehicle diagnostics can significantly reduce fleet downtime as heavy duty vehicles become more complex. It shows how Autel’s CV diagnostic tools enable in-house troubleshooting, preventive maintenance, and faster repairs, helping fleets cut emissions-related downtime, reduce dealer dependence, and improve overall vehicle uptime and operating costs.

Read More →
SponsoredFebruary 1, 2026

Stop Watching Footage, Start Driving Results

6 intelligent dashcam tactics to improve safety and boost ROI

Read More →
Ad Loading...
M&A illustration with Werner and FirstFleet logos
Fleet Managementby Deborah LockridgeJanuary 29, 2026

Werner Expands Dedicated Fleet Nearly 50% With FirstFleet Acquisition

The $283 million acquisition of FirstFleet makes Werner the fifth-largest dedicated carrier and pushes more than half of its revenue into contract freight.

Read More →
Bobit Business Media B2X Rewards.
Fleet Managementby News/Media ReleaseJanuary 29, 2026

Bobit Business Media Launches B2X Rewards Engagement Program

B2X Rewards is a new, gamified rewards program aimed at driving deeper engagement across BBM’s digital platforms, newsletters, events, and TheFleetSource.com.

Read More →
Trucking Trends series graphic
Fleet Managementby Deborah LockridgeJanuary 29, 2026

AI is Reshaping Trucking in 2026, from the Back Office to the Shop

Trucking’s biggest technology shifts in 2026 have one thing in common: artificial intelligence.

Read More →
Ad Loading...
Column graphic illustration with Deborah Lockridge head shot and a small fleet truck in the background
Fleet Managementby Deborah LockridgeJanuary 27, 2026

Why Small Trucking Fleets Are Still Standing [Commentary]

Why discipline, relationships, and focus have mattered more than size for smaller trucking fleets during the freight recession.

Read More →
Fleet Managementby Deborah LockridgeJanuary 23, 2026

Cargo Theft Is Surging. A Bill in Congress Could Help. [Video]

Cargo theft losses hit $725 million last year. In this HDT Talks Trucking Short Take video, Scott Cornell explains how a bill moving in Congress could bring federal tracking, enforcement, and prosecutions to help address the problem.

Read More →
CargoNet infographic showing 2025 cargo theft trends
Fleet Managementby Deborah LockridgeJanuary 22, 2026

Cargo Theft Losses Jump 60% in 2025 as Criminals Target Higher-Value Freight

Cargo theft activity across North America held relatively steady in 2025 — but the financial damage did not, as ever-more-sophisticated organized criminal groups shifted their cargo theft focus to higher-value shipments.

Read More →
Ad Loading...
Phillips Connect -- McLeod smart trailer TMS.
Fleet ManagementJanuary 22, 2026

Phillips Connect, McLeod Integrate Smart Trailer Data into TMS Workflows

A new partnership between Phillips Connect and McLeod allows fleets to view trailer health, location, and cargo status inside the same McLeod workflows used for planning, dispatch, and execution.

Read More →