Proficient Auto Logistics Announces Pricing of Initial Public Offering
Proficient Auto Logistics, Inc. (PAL)
Company Research
Source: Business Wire
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Proficient Auto Logistics, Inc. (NASDAQ: PAL) (the “Company”) today announced the pricing of its initial public offering of 14,333,333 shares of its common stock at a public offering price of $15.00 per share, for total gross proceeds of approximately $215.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. All of the common stock is being offered by the Company. The underwriters will have a 30-day option to purchase up to an additional 2,149,999 shares of common stock from the Company. The shares are expected to begin trading on the Nasdaq Global Market on May 9, 2024 under the ticker symbol “PAL.” The offering is expected to close on May 13, 2024, subject to the closing of the Combinations (as described further below) and customary closing conditions.Prior to the offering, the Company entered into agreements to acquire in multiple, separate acquisitions (the “Combinations”
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PAL
News
- Proficient Auto Logistics Reports First Quarter 2024 Financial ResultsBusiness Wire
- Proficient Auto Logistics Announces Timing of First Quarter 2024 Earnings ReleaseBusiness Wire
- Proficient Auto Logistics Announces Partial Exercise of IPO Over-Allotment OptionBusiness Wire
- Proficient Auto Logistics, Inc. (NASDAQ: PAL) is now covered by analysts at William Blair. They set an "outperform" rating on the stock.MarketBeat
- Proficient Auto Logistics, Inc. (NASDAQ: PAL) is now covered by analysts at Raymond James. They set an "outperform" rating and a $18.00 price target on the stock.MarketBeat
PAL
Sec Filings
- 5/13/24 - Form 4
- 5/13/24 - Form 4
- 5/13/24 - Form 4
- PAL's page on the SEC website