Proficient Auto Logistics, Inc

Proficient Auto Logistics, Inc (PAL) priced its initial public offering on May 10, 2024 at $15.00 per share, raising $215M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $361.7M. Stifel was lead-left underwriter, joined by Raymond James and William Blair. Mayer Brown advised the company and Latham & Watkins advised the underwriters.

Proficient Auto Logistics, Inc. is a non-union, specialized freight company providing auto transportation and logistics services from 49 facilities across the United States. It was formed through a combination of businesses that depends on completion of its offering.

Status

IPO

Ticker

PAL

Exchange

Nasdaq Global Market

Priced

May 10, 2024

IPO price

$15.00

Raised

$215M

Market cap at IPO price

$361.7M

First filed

Apr 11, 2024

Underwriters

Stifel, Raymond James and William Blair

Company counsel

Mayer Brown

Underwriters' counsel

Latham & Watkins

Sector

Transportation

Country / state

FL

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.