It hopes to raise $126 million through the sale of shares which have been priced at $15.75.
The Buchanan, Mich.-based company said underwriters have a 30-day option to purchase up to an additional 1.2 million shares from XPO solely to cover over-allotments.
XPO said it intends to use the net proceeds of the offering for general corporate purposes, which may include potential acquisitions. The offering is expected to close on March 20, subject to customary closing conditions.
Founded in 1989, XPO is a non-asset based third-party logistics firm involved in expedited transportation, freight forwarding and freight brokerage. The company says it has 4,000 customers it serves through seven U.S. operations centers and 23 agent locations.
