Barnes & Noble Education (BNED) just unveiled an announcement.
Barnes & Noble Education, Inc. has entered into a significant financial agreement that includes a rights offering to existing stockholders and a series of transactions involving strategic purchasers. The company aims to raise $45 million from stockholders with the option for standby purchasers to buy any unsubscribed shares. Additionally, there’s an agreement for direct share purchases and debt conversion into shares. These complex financial maneuvers are subject to stockholder approval and customary closing conditions, and they are part of broader efforts to secure a new $325 million asset-based credit facility, replacing an existing one, contingent on the success of these transactions.
For an in-depth examination of BNED stock, go to TipRanks’ Stock Analysis page.
