LTL carrier Arkansas Best Corp. has extended a previously announced stock conversion deadline to September 14 in the wake of Tuesday’s terrorist attack.
Prior to the call for redemption, approximately 1,390,000 shares of the preferred stock were outstanding and the deadline was set for September 11. Arkansas Best said that, as of the close of business on September 11, a total of 1,030,329 shares of the preferred stock had been surrendered for conversion into 2,616,670 shares of the company’s common stock.
As a result of the call for redemption, Arkansas Best has delisted its preferred stock – which traded under the symbol ABFSP – from the Nasdaq National Market. The company said its common stock will continue to trade on Nasdaq ABFS.