** Trucking firm Knight-Swift Transportation KNX.N shares up 2.8% to $63.35 and on course to snap 3-session losing streak on Weds after above-target capital raise

** Phoenix, Arizona-based KNX early Weds announced pricing private offering of $1.3 bln 1% convertible bonds due Nov 2031

** Offering size increased from $1 bln; initial conversion price of $80.11 represents 30% premium to stock's last close of $61.62

** It intends to use net offering proceeds repay all $300 mln principal outstanding under 2027 term loan, repay $400 mln of its 2023 term loan, partially repay revolver

** Co also to use proceeds to fund $92.8 mln of capped call transactions; initial cap price set at $104.75, 70% above stock's last close

** KNX has about $10 bln market cap

** With move on Weds, stock up ~21% YTD matching 21% advance in S&P 400 Transportation index .SPMDCTRN

** Of 19 analysts covering the stock, 14 rate "strong buy" or "buy", 4 "hold" and 1 "sell"; median PT of $72 up from $64.50 a month ago, per LSEG data