Progressive Railroading

Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.


View Current Digital Issue »


RAIL EMPLOYMENT



Rail News Home Financials

4/6/2005



Rail News: Financials

FreightCar America initiates IPO


advertisement


Today, FreightCar America Inc. is launching an initial public offering of 8.5 million shares of common stock priced at $19 per share on the NASDAQ National Market under the symbol "RAIL." The company is selling 5.1 million shares; stockholders are offering the remainder.

Shareholders have granted underwriters a 30-day option to purchase up to an additional 1,275,000 shares to cover any over allotments. The IPO is lead-managed by UBS Investment Bank, and co-managed by Jefferies & Company Inc. and CIBC World Markets Corp.

FreightCar America officials expect the offering to generate $86 million. Along with free cash and monies from a new revolving credit facility, the company will use IPO proceeds to pay off debt and redeem all preferred stock.


Contact Progressive Railroading editorial staff.

More News from 4/6/2005