Horizon plans common stock sale
Horizon Lines Friday said it intends to offer 5.75 million shares of its common stock — 5.72 million shares to be sold by its equity sponsor, Castle Harlan Partners IV, L.P. and affiliates, and 30,730 shares to be sold by certain members of the company's directors and management.
Horizon, a Jones Act ocean carrier and logistics provider, is not expected to issue any primary shares in the offering.
The company said the offering is being made through an underwriting syndicate led by Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc., who will act as its joint book-running managers.