Knight-Swift jumps after pricing upsized $1.3B 2031 convertible notes deal
KNX•Knight-Swift shares rose after the company priced an upsized $1.3 billion offering of 1.00% convertible senior notes due 2031. The deal includes a capped call structure with an initial cap price around $104.75, helping offset potential dilution and signaling confidence in the funding plan.
1. What’s moving KNX today
Knight-Swift Transportation is trading higher as investors digest the company’s announcement that it priced an upsized $1.3 billion private offering of 1.00% convertible senior notes due 2031. Convertible pricing can move shares in either direction, but the inclusion of a capped call structure and the clearer visibility on final terms appears to be supporting the stock today. (marketscreener.com)
