P.A.M. Transportation Services, Inc. (NasdaqGM:PTSI) announces a share repurchase program. Under the offer, the company will repurchase up to 550,000 shares of its common stock, representing 2.5% of the total number of issued shares capital. The shares will be purchased at a purchase price not greater than $18 or less than $15.5 per share.

The purpose of repurchase program is to return capital to stockholders that seek liquidity under current market conditions and allowing stockholders who do not participate in the offer to share in a higher portion of company?s future potential. The shares will be purchased for cash available from cash and cash equivalents and funds borrowed from the company?s existing line of credit. The repurchased shares will be held in treasury.

If more than 200,000 shares are properly tendered at or below the purchase price and not properly withdrawn prior to the expiration time, the company will purchase shares, subject to the terms of the offer, from all stockholders who properly tender shares at or below the purchase price the company determines, on a pro rata basis. The company expressly reserves the right to purchase additional shares up to 2% of the issued and outstanding shares or approximately 440,695 shares. The offer will expire on May 22, 2024 unless extended.

As of April 19, 2024, we had 22,034,762 issued and outstanding shares.