Barnes & Noble Education Revamps Financials and Consolidates Equity

The latest update is out from Barnes & Noble Education (BNED).

Barnes & Noble Education, Inc. has revamped its financial structure, securing an asset-based credit facility of up to $325 million with a maturity date in 2028, while also adding stringent covenants to safeguard its financial health. Additionally, the company has successfully completed a significant corporate transaction, resulting in $95 million of new equity capital, a conversion of $34 million debt to equity, and the launch of a reverse stock split to consolidate shares, ultimately reshaping its capital framework for sustained growth and stability in the marketplace.

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