Proficient Auto Logistics completes acquisition of Auto Transport Group for $28.9M cash plus 1.07M shares

Proficient Auto Logistics, Inc

Cash consideration of ~$28.9M plus ~1.07M shares of PAL common stock; ~105K shares held back for indemnification.
ATG operates 76 tractors and 76 trailers providing vehicle transport in the Mountain Western region.
Registration rights agreement for resale of shares with lock-up periods of 9 and 12 months for half each.
Transaction funded from cash on hand and borrowings under available credit facilities.

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