Quality Distribution plans to apply $15 million of IPO proceeds toward ABL facility borrowings

By Jennifer Chiou

New York, April 30 - Quality Distribution, Inc. intends to use $15 million of the proceeds from its planned $65 million initial public offering to repay borrowings under its ABL credit facility, according to an S-1 filing with the Securities and Exchange Commission.

In all, the company plans to issue up to $65 million of stock in the IPO.

Quality Distribution provides bulk transportation and related services and is based in Tampa, Fla.

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