Roadrunner to pay down $52 million line of credit borrowings via stock

By Ashley Montgomery

Kansas City, Kan., Dec. 5 - Roadrunner Transportation Systems, Inc. plans to use the proceeds from its offering of common stock to repay $52 million of outstanding indebtedness under its revolving line of credit, according to a 424B5 filed with the Securities and Exchange Commission.

The company said it expects net proceeds from the offering to total $59.5 million. The offering also carries an over-allotment option, which could bring the proceeds to $68.7 million.

The line of credit is included in the company's senior credit facility, which matures on Aug. 3, 2017.

Remaining proceeds will be used for working capital and general corporate purposes.

Roadrunner is a transportation and logistics services provider based in Cudahy, Wis.

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