Schneider National (No. 8 on the CCJ Top 250) closed its initial public offering Tuesday, April 11, after selling the nearly 29 million available shares, netting the company approximately $288.4 million.

In sum, Schneider sold about $550 million worth of stock, with the remainder after the $288.4 million going to Schneider family shareholders. 

The company sold 16,842,000 shares, and selling shareholders sold 12,105,000 shares, at an IPO price of $19 per share. The stock began trading on the New York Stock Exchange on April 6 under the ticker symbol “SNDR.”

On the first day of the IPO, the stock opened at $19.50 per share, peaked at $19.74 per share and closed at $19 per share. The final day of the IPO saw Schneider’s stock open at $19.36 and close at $18.69.

In its IPO, Schneider gave underwriters a 30-day option to purchase up to an additional 4,342,000 shares at $19 per share to cover any over-allotments. This typically happens when demand for shares is high and shares are trading above the offering price.

The Schneider family and the Schneider National Voting Trust continue to hold “Class A” common stock, which is worth 10 votes each. The 28.9 million shares traded on the NASDAQ are “Class B” common stock, which are worth one vote.

Schneider made about $4 billion in revenue last year. Its net income was over $150 million, according to the company’s filing with the Securities and Exchange Commission.