P.A.M. Transportation Services, Inc. Commences Self Tender Offer To Purchase Up To 200,000 Shares On A Stock Split-Adjusted Basis

Jul 27, 2021

TONTITOWN, AR / ACCESSWIRE / July 27, 2021 / P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) (the 'Company') today announced the commencement of a modified 'Dutch auction' tender offer to purchase up to 200,000 shares (as adjusted for the Company's previously announced 2-for-1 forward split of its common stock in the form of a 100% stock dividend payable on August 16, 2021, to stockholders of record on July 30, 2021 (the 'Stock Split')), or about 1.7%, of its outstanding common stock at a price of not less than $32.00 and not more than $37.00 per share (as adjusted for the Stock Split). The tender offer will expire at 5:00 p.m., Eastern Time, on August 26, 2021, unless extended or withdrawn. The Company anticipates paying for the shares tendered in the offer from its available cash and cash equivalents but may utilize funds borrowed under its existing line of credit. The Board of Directors determined that it is in the Company's best interest to repurchase shares at this time given the Company's financial condition and stock price.

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