HOUSTON, February 2, 1998 -- Eagle USA Airfreight, Inc. (Nasdaq/NMS: EUSA)
announced today the closing of a public offering on January 30, 1998 of
1,750,000 shares of its Common Stock by James R. Crane, the Chairman of the
Board of Directors, President and Chief Executive Officer of the Company, and
the closing of the sale of an additional 262,500 shares of Common Stock
pursuant to the underwriters' over-allotment options, which was exercised in
full. The public offering price of the shares was $27.75 per share. The
offering was managed by Donaldson, Lufkin & Jenrette Securities Corporation,
Morgan Stanley Dean Witter, William Blair & Company and Gerard Klauer Mattison
& Co., Inc.
The Company did not receive any proceeds from the sale of shares by Mr.
Crane. The purpose of the offering of Mr. Crane's shares was to improve his
personal liquidity, and repay indebtedness, including that initially incurred
by him to purchase additional Common Stock since the Company's initial public
offering in 1995. An additional purpose of the offering is to increase the
public float of shares of Common Stock. After the offering, Mr. Crane is the
owner of 8,592,378 shares -- approximately 46.4% -- of Common Stock. The net
proceeds received by the Company from the proceeds of shares sold pursuant to
the underwriters' over-allotment option will be used for general corporate
purposes.
Eagle USA Airfreight is a leading provider of air freight forwarding and
other transportation and logistics services.
Copies of the prospectus related to the offering may be obtained from the
prospectus department at Donaldson, Lufkin & Jenrette Securities Corporation,
277 Park Avenue, 7th Floor, New York, New York 10172, 212-892-4525.
SOURCE Eagle USA Airfreight, Inc.
 back to top
CONTACT:
Douglas A. Seckel, Chief Financial Officer,
or Mike Slaughter, Investor Relations, both of Eagle USA
Airfreight, Inc., 281-442-1188
|
