Davis Polk advised the joint lead book-running managers in connection with the $218.8 million public offering of 5,060,000 common shares of TFI International, Inc., which included 660,000 shares from the full exercise of the underwriters’ option to purchase additional shares. TFI’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol “TFII.”
Based in Montreal, Quebec, TFI is one of the largest trucking and logistics companies in North America with significant presence across both the United States and Canada. TFI operates an “Asset-Right” model, which combines company-owned equipment with asset-light operations, including logistics, package and courier, brokerage and intermodal offerings.
The Davis Polk capital markets team included partner Michael Kaplan, counsel Jeffrey S. Ramsay and associate Ariel Rivera. Partner Mario J. Verdolini and associate Ben Levenback provided tax advice. Counsel David A. Zilberberg provided environmental advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.