Proficient Auto Logistics, Inc (PAL) Form 8-K — Oct 30, 2026
Proficient Auto Logistics appointed Steven Hansen, co-founder of Hansen & Adkins Auto Transport, to its Board of Directors effective October 30, 2026, expanding the board ahead of the 2027 annual meeting. Hansen founded H&A in 1994 and the company was acquired by Proficient in August 2026 for approximately $130 million upfront, including $75 million of assumed debt, plus earnouts of up to $22.1 million. He received 421,354 shares in the deal and is receiving advisory services compensation at a prorated $250,000 annual rate through the end of 2026.
Key figures
- Assumed debt
- $75 million
- Cash paid at closing
- $52 million
- Potential earnout max
- $22.1 million
- Shares issued to hansen
- 421354
- Buchanan lease annual value
- 180000
- Acquisition upfront purchase price
- $130 million
- Advisory compensation prorated annual
- $250,000
- Farquhar leases aggregate annual value
- 1200000
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