Con-way (CNW) Completes 4.3M Common Offering at $35/Share

Con-way Inc. (NYSE: CNW) today announced the completion of its previously announced offering of 4,300,000 shares of its common stock to the public at a public offering price of $35.00 per share. The net proceeds from the offering, before estimated expenses, were approximately $143.7 million.

The Company intends to use the net proceeds from the offering for general corporate purposes including, but not limited to, working capital requirements and capital expenditures.

The net proceeds do not include any funds from the 30-day option granted to the underwriters to purchase up to 645,000 additional shares of common stock to cover over-allotments, if any, from the Company at the public offering price less the underwriting discount. Unless exercised, the 30-day option will expire on June 11, 2010.

Morgan Stanley & Co. Incorporated and Goldman, Sachs & Co. served as the joint book-running managers for the offering.