Simpson Thacher represented the underwriters, led by Morgan Stanley, UBS Investment Bank and BofA Merrill Lynch, in connection with the initial public offering by Schneider National, Inc. (“Schneider”) of 28,947,000 shares of its Class B common stock at an initial public offering price of $19 per share. Schneider sold 16,842,000 shares and the selling shareholders sold 12,105,000 shares. Total net proceeds to Schneider from the offering, after deducting discounts and commissions but before expenses, were approximately $288.4 million. Schneider’s Class B common stock began trading on the New York Stock Exchange under the symbol “SNDR” on April 6, 2017.
Schneider is a leading transportation and logistics services company providing a broad portfolio of premier truckload, intermodal and logistics solutions and operating one of the largest for-hire trucking fleets in North America.
The Simpson Thacher team for the transaction included Ryan Bekkerus, Teresa Chen and Sara Park (Capital Markets); Amanda Weiss (Public Company Advisory Practice); Larry Moss, Alina Grinman and Monisha Bhayana (Executive Compensation and Employee Benefits); William Smolinski (Tax); Michael Isby and Louise Kruger (Environmental); Genevieve Dorment (Intellectual Property); Laura Twomey (Personal Planning); and Jennie Getsin (Blue Sky and FINRA).