Swift Transportation Co, the largest truckload carrier in North America, set the for a $942.6 million initial public offering.

The Phoenix, Arizona-based company, formerly known as Swift Holdings Corp, filed with U.S. regulators to sell 67.3 million shares for $13 to $15 each.

The company first filed in July to raise up to $700 million and then raised that amount to just over $1 billion in early November.

Underwriters, lead by Morgan Stanley, Bank of AmericaMerrill Lynch and Wells Fargo will have the option to purchase up to 10.1 million additional shares to cover excess demand, the transportation services company said in a regulatory filing.

Swift said it would use net proceeds of $887.9 million to repay debt.

As of Sept. 30, Swift operated a fleet of 16,200 tractors, 48,600 trailers and 4,500 intermodal containers in the United States and Mexico. The company posted a net loss of $77.1 million on total operating revenue of $2.15 billion in the nine months ended Sept. 30.

Wal-Mart Stores Inc and its subsidiaries are Swift’s largest customer and accounted for 10.2 percent of revenue in 2009. Other top customers include Home Depot Inc , Procter & Gamble Co and Target Corp.

Swift founder Jerry Moyes stepped down as chief executive in 2005 after the U.S. Securities and Exchange Commission filed an insider-trading complaint against him in federal court in Arizona. Moyes settled for $1.5 million without admitting or denying any claims and returned as CEO in 2007, when he took the company private. (Reuters)