Proficient Auto Logistics prices USD 75 million convertible senior notes offering - PAL News | RalliesProficient Auto Logistics prices USD 75 million convertible senior notes offering
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PAL• Convertible notes offering priced
- Proficient Auto Logistics priced a private offering of USD 75 million convertible senior notes due 2033.
- The notes carry a 5.5% coupon, and settlement is expected Aug. 13.
- Net proceeds are expected to be about USD 71.4 million.
- The company said the funds will be used to refinance debt and pay premiums tied to capped call hedges.
- The initial conversion price is set near USD 6.5 per share, and the capped call cap price starts at USD 8.93.
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