PAMT CORP Announces Preliminary Results of its Self Tender Offer

About this update from Pamt Corp

[{"type":"text","content":"TONTITOWN, Ark., May 02, 2025--(BUSINESS WIRE)--PAMT CORP (NASDAQ: PAMT) (the "Company") today announced the preliminary results of its modified "Dutch auction" tender offer to purchase up to 435,000 shares of its outstanding common stock, which expired at 5:00 p.m., Eastern Time, on Thursday, May 1, 2025.","length":327,"tagName":"p"},{"type":"text","content":"Based on the preliminary count by Computershare Trust Company, N.A. ("Computershare"), the depositary for the tender offer, approximately 885,179 shares were properly tendered and not properly withdrawn at or below the expected final purchase price of $17.00 per share, including shares that were tendered through notices of guaranteed delivery.","length":355,"tagName":"p"},{"type":"text","content":"In accordance with the terms and conditions of the tender offer, the Company expects to acquire 870,000 of the shares tendered on a prorated basis, for an aggregate purchase price of approximately $14.8 million. These shares represent approximately 4.0% of the Company’s issued and outstanding shares as of March 31, 2025. The total amount of shares expected to be purchased in the tender offer includes the Company’s right to increase the tender offer by up to two percent of its outstanding shares. The determination of the final number of shares to be purchased and the final price per share is subject to confirmation by Computershare of the proper delivery of the shares validly tendered and not withdrawn.","length":711,"tagName":"p"},{"type":"text","content":"Due to the oversubscription of the tender offer, the Company expects to accept for purchase approximately 98.3% of the shares properly tendered and not properly withdrawn at or below the purchase price of $17.00 per share by each tendering shareholder.","length":252,"tagName":"p"},{"type":"text","content":"The number of shares to be purchased and the price per share are preliminary and are subject to verification by Computershare and subject to change for a number of reasons, including if some or all of the shares tendered through notices of guaranteed delivery are not delivered within the applicable two trading day settlement period. The actual number of shares to be purchased and the final price per share will be announced following the expiration of the guaranteed delivery period and completion ...

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