U.S. Xpress Enterprises, a mid-sized trucking company in the eastern US, announced terms for its IPO on Monday.

The Chattanooga, TN-based company plans to raise $343 million by offering 18.1 million shares (8% insider) at a price range of $18 to $20. At the midpoint of the proposed range, U.S. Xpress Enterprises would command a fully diluted market value of $947 million and an enterprise value of $1.5 billion.

U.S. Xpress Enterprises was founded in 1985 and booked $1.6 billion in sales for the 12 months ended March 31, 2018. It plans to list on the NYSE under the symbol USX. BofA Merrill Lynch, Morgan Stanley, J.P. Morgan and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of June 11, 2018.

The article U.S. Xpress Enterprises sets terms for $343 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.