PAMT (PAMT) said Friday it was raising the lower end of its previously announced tender offer range to a minimum of $14.50 to buy back up to 435,000 shares, up from $14 apiece previously.
The company's offer has a ceiling of $17, which remains unchanged.
Any share tendered below $14.50 will be deemed to have been tendered at the floor price, PAMT said.
The offer will last until May 1 and see the company buy back about 2% of its outstanding common stock if fully tendered.
PAMT shares were up nearly 4% in recent trading.
Price: 13.72, Change: +0.49, Percent Change: +3.70
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