Proficient Auto Logistics jumps after $75 million convertible bond offering

Proficient Auto Logistics

12/08/2026 19:30

** Proficient Auto Logistics' PAL.O shares jump as much as 7.8%, last up 5.7% at $5.39 after $75 million convertible bond offering priced
** Auto transportation and logistics services will use proceeds to refinance debt and pay premiums for capped call transactions - hedging tool to protect against shareholder dilution
** Initial conversion price of roughly $6.50 per share represents roughly 27.5% premium over last reported sale price
** Stock slipped 29.6% on Tuesday after PAL reported Q2 results, launched $75 million convertible bond offering, and unveiled Hansen & Adkins deal  
** 3 of 4 brokerages rate the stock "buy" or higher and 1 "hold"; median PT $12 - data compiled by LSEG
** As of last close, PAL stock down 47% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))