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Rail News: Financials

FreightCar America's IPO nets $86 million


FreightCar America Inc. recently completed an initial public offering of 9,775,000 shares of common stock priced at $19 per share. Net proceeds totaled $86 million.

The offering included 5,100,000 newly issued shares of common stock and 4,675,000 shares of common stock sold by existing stockholders (the company didn’t receive any proceeds from shares sold by stockholders).

UBS Investment Bank served as sole book-running manager and co-lead manager; Jeffries & Co. Inc. acted as co-lead manager; and CIBC World Markets Corp. served as a co-manager.

Formerly Johnstown America Corp., FreightCar America builds coal, flat, intermodal and coil steel cars, mill gondolas and motor vehicle carriers.

Contact Progressive Railroading editorial staff.

More News from 4/13/2005