Business Services Industry
Florida's Trailer Bridge Inc. Plans Stock Offering.(Originated from The Florida Times-Union, Jacksonville)
Knight Ridder/Tribune Business News, June, 1997 by Finotti, John
Jun. 3--Looking to finance an expansion into new markets, Trailer Bridge Inc. has filed plans for a $31 million public stock offering.
The privately-held Jacksonville-based trucking and ocean barge carrier provides freight transportation primarily between the continental U.S. and Puerto Rico.
In a filing with the Securities and Exchange Commission, the company said it will use proceeds from the stock offering to purchase new equipment, fund a dividend to existing stockholders, reduce debt and provide working capital.
The filing didn't indicate the number of shares to be offered or the expected price-per-share.
But the company's founder and owner, Malcolm P. McLean, will continue to own a controlling interest after the...
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