Universal Truckload Services files shelf registration to offer up to US$100M in stock, preferred stock, rights and warrants

Liling Tan

WARREN, Michigan , March 2, 2010 (Associated Press ) – Universal Truckload Services has notified federal regulators that it will offer up to $100 million in stock, preferred stock, rights and warrants.

The company, which services shippers in the U.S. and in Ontario and Quebec, said late Monday that the securities will be priced at the time of any future offering.

The company's controlling stockholders are chairman Matthew T. Moroun and his father, director Manuel J. Moroun. The company told the Securities and Exchange Commission that it may sell up to 6.1 million secondary shares of common stock owned by them.

Universal Truckload Services Inc. currently has almost 16 million shares outstanding, with a market capitalization of $283.7 million.

On Tuesday, its shares rose 46 cents, or 2.6 percent, to $18.04.

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