Quality Files to Sell Six Million Shares of Stock
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It will receive no proceeds that result from the sales of shares of stock made by Apollo Management.
ank carrier Quality Distribution said late Monday that it will file with the Securities and Exchange Commission to allow it to sell up to six million shares of its stock.
Quality also said that Apollo Management, its largest shareholder, will register about 10.4 million Quality’s stock, all the shares it owns.
Quality said it would use proceeds from the sale of the stock to repay or refinance its debt and for general corporate purposes.
Quality Distribution is ranked No. 33 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
