Pacer prepares to sell shares
Jan 8, 2004 12:00 PM
Third-party logistics provider Pacer Inernational, Inc. has filed a shelf registration statement with the Securities and Exchange Commission for the potential offering of up to $150 million in equities. The purpose of the registration statement is to provide Pacer with greater flexibility for corporate purposes, including the repayment or refinancing of borrowings, working capital, capital expenditures, and acquisitions, according to Don Orris, chairman and chief executive officer. The registration statement also covers possible future sales of up to 8,702,893 shares of common stock by the selling stockholders named in the registration statement. Pacer will not receive any of the proceeds from these stockholder sales.
