Knight-Swift Announces $1.3 Billion Convertible Senior Notes Offering Maturing in 2029

Knight-Swift Transportation Holdings Inc. recently announced the pricing of an upsized offering of convertible senior notes, totaling $1.3 billion. The notes will mature on May 15, 2029, and bear an annual interest rate of 1.75%.

The sale is expected to close on May 8, 2026, subject to customary closing conditions. Knight-Swift also granted the initial purchasers of the notes an option to purchase up to an additional $200 million aggregate principal amount of the notes. The notes are being offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The interest will be payable semi annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2026. Prior to February 15, 2029, the notes will be convertible only upon the occurrence of certain events and during certain periods, and will be convertible thereafter at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Knight-Swift intends to use the net proceeds from the offering to redeem its outstanding 6.00% Senior Notes due 2027 and for general corporate purposes, which may include acquisitions.

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Date: May 6, 2026

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