Hub Group Announces Filing of Registration Statement
DOWNERS GROVE, Ill., June 9 /PRNewswire-FirstCall/ -- Hub Group, Inc. (Nasdaq: HUBG) announced today that it has filed a registration statement on Form S-3 with the Securities and Exchange Commission relating to a proposed public offering of 1,800,000 shares of its Class A Common Stock. In addition, three stockholders are offering 100,000 shares of Class A Common Stock and will grant the underwriters a 30-day option to purchase up to an additional 285,000 shares to cover any over-allotments. Hub Group plans to use its proceeds from the offering to prepay its outstanding 9.14% notes.
The offering is being made through an underwriting syndicate that includes Bear, Stearns & Co. Inc. and BB&T Capital Markets. When available, copies of the preliminary prospectus relating to this offering may be obtained from Bear, Stearns & Co. Inc., c/o Prospectus Department, 383 Madison Avenue, New York, NY 10179.
The registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Hub Group, Inc. is a leading non-asset based freight transportation management company providing comprehensive intermodal, truckload, LTL, railcar, airfreight and related logistics and distribution services. Hub Group operates through a network of over 30 offices throughout the United States, Canada and Mexico.
Statements in this press release that are not historical, including statements about Hub Group's or management's intentions, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and subject to risks. Such statements should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. Factors that could cause actual results to differ materially include the factors listed from time to time in Hub Group's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended December 31, 2003 and quarterly report on Form 10-Q for the quarter ended March 31, 2004. Hub Group assumes no liability to update any such forward-looking statements.
SOURCE Hub Group, Inc. -0- 06/09/2004 /CONTACT: T. Pizzuto of Hub Group, Inc., +1-630-271-3676/ /Web site: http://www.hubgroup.com / (HUBG) CO: Hub Group, Inc. ST: Illinois IN: TRN SU: OFR JR-AB -- CGW025 -- 8137 06/09/2004 08:58 EDT http://www.prnewswire.com