Proficient Auto Logistics Announces Pricing of Initial Public Offering

JACKSONVILLE, Fla. -- 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. Read More