P.A.M. Transportation Services (NASDAQ:PTSI) Completes Redomestication to Nevada

by · The Markets Daily

On November 7, 2024, P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) finalized its redomestication process to the State of Nevada. The move, approved by the shareholders at the annual meeting on October 31, 2024, was achieved through a conversion from a corporation organized under Delaware laws to a Nevada corporation under the new name PAMT CORP.

The redomestication involved several key changes:
– The company’s domicile shifted from Delaware to Nevada.
– The name changed from P.A.M. Transportation Services, Inc. to PAMT CORP.
– Governance transitioned from the Delaware General Corporation Law to the Nevada Revised Statutes.
– Despite these alterations, existing properties, liabilities, officers, directors, and stock holdings remained unchanged post-redomestication.
– The number of authorized common stock shares increased from 50,000,000 to 100,000,000 as per the Nevada Articles, without affecting the total outstanding shares.

Importantly, the redomestication did not impact the company’s essential operations, location, management, assets, or financial standings. All existing contracts with third parties continued without alteration, and employee-related plans and benefits remained consistent throughout the transition.

Additionally, each outstanding share of common stock automatically converted to a share in the Nevada corporation, with no requirement for shareholders to exchange existing certificates. The company’s common stock will continue to be listed on The Nasdaq Global Market under the new name PAMT CORP and trading symbol “PAMT.”

Further details regarding the redomestication, including the Plan of Conversion, Nevada Articles, and Nevada Bylaws, are available in the Company’s previously filed Proxy Statement. This disclosure is integral to understanding the full scope of the transition and its implications on the company’s structure and operations.

PAMT CORP, formerly P.A.M. Transportation Services, Inc., is a holding company overseeing subsidiaries involved in truckload dry van carrier services across the United States and parts of Canada and Mexico.

It’s worth noting that the redomestication announcement was accompanied by a press release dated November 8, 2024. This release, attached as Exhibit 99.1 to the Form 8-K filing, elaborated on the transition and the continuity of trading under the new name and trading symbol.

For further information, interested parties can review the complete Form 8-K filing, including details on the Plan of Conversion, Articles of Incorporation, and Bylaws of PAMT CORP.

It is essential to acknowledge that forward-looking statements within the document are subject to risks and uncertainties that could lead to actual events differing from anticipated outcomes. The company commits to providing updates as necessary to address changes arising from these factors.

Contact details for PAMT CORP are as follows:
Address: P.O. BOX 188, Tontitown, AR 72770
Contact: Lance K. Stewart
Phone: (479) 361-9111

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read P.A.M. Transportation Services’s 8K filing here.

About P.A.M. Transportation Services

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P.A.M. Transportation Services, Inc, through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company operates a truckload dry van carrier that transports general commodities, such as automotive parts; expedited goods; consumer goods, such as general retail store merchandise; and manufactured goods, including heating and air conditioning units.

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