Horizon Lines sets pricing of secondary offering
U.S. Jones Act carrier Horizon Lines today set the public offering of it 5.75 million shares of common stock at $14 per share.
Horizon Lines’ equity sponsor Castle Harlan Partners IV L.P. and affiliates, are selling 5.72 million of the shares, with the rest to be sold by certain members of the carrier’s directors and management.
The offering is being made through an underwriting syndicate led by Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc., who will act as its joint book-running managers.
The selling stockholders have also granted the underwriters a 30-day option to purchase up to 862,500 additional shares from them. Horizon Lines will not be issuing any primary shares in the offering or upon the exercise of the underwriters’ option.