TransCore Unveils Plan to Become Publicly Traded Firm

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reight-matching service and technology company TransCore Inc. filed a registration statement with the Securities and Exchange Commission June 10 to become a publicly traded company as part of an effort to raise equity, generate liquidity and repay debt during favorable market conditions, the company announced.

Chief Financial Officer Joseph Grabias said in an interview that the Hummelstown, Pa., firm would sell a new security that bundles one common share of stock with a unit of debt by some time in October, but that many details of the proposed offering remained to be decided.

The new securities, known as enhanced yield securities, are expected to trade on the American Stock Exchange. Investors would generate income from an interest payment on the notes and a dividend on the stock, he said.

The company is still determining the percentage of the company that would be sold, as well as an initial offering price, he said. The company retained Lehman Brothers to manage the sale.

For the full story, see the June 21 print edition of Transport Topics. Subscribe today.