---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-089491"
form_type: "8-K"
ticker: "PAL"
cik: "0001998768"
company_name: "Proficient Auto Logistics, Inc"
filed_at: "2026-08-14T12:45:26+00:00"
generated_at: "2026-08-14T12:50:34.599445+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# PAL closes H&A acquisition for ~$130M, funds with $75M 5.5% convertible notes due 2033

## Summary
- Acquired Hansen & Adkins for ~$130M upfront: ~$75M assumed debt, ~$52M cash, 421,354 PAL shares to Steve Hansen; earnout up to ~$22.1M.
- Issued $75M 5.5% convertible senior notes due 2033; conversion price ~$6.50 (27.5% premium to $5.10 close); net proceeds ~$71.4M.
- Capped call transactions cost ~$9.2M, cap price $8.93/share, to reduce conversion dilution.
- Combined entity now largest North American auto hauler; expects >4M vehicles annually, integration complete early 2027.
- H&A founders Steve Hansen and Louie Adkins remain advisors through year-end.

## SEC filing metadata
- accession: 0001213900-26-089491
- form_type: 8-K
- ticker: PAL
- cik: 0001998768
- company_name: Proficient Auto Logistics, Inc
- filed_at: 2026-08-14T12:45:26+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1998768/000121390026089491/0001213900-26-089491-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1998768/000121390026089491/ea0301906-8k_proficient.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-089491
- JSON: https://secwatch.observer/filing/0001213900-26-089491.json
- Plain text: https://secwatch.observer/filing/0001213900-26-089491.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.