Education Management Corporation (EDMCQ)

[MWM]

Just noticed this little tidbit on the timeline from the website, this might of scared the pants off a few lol! But hell that means they have no debt right?

EDMC completed a capital restructuring agreement with debt holders cancelling in excess of $1.3 billion of outstanding debt in exchange for the issuance of two senior secured term loans due July 2, 2020 in the aggregate principle amount of $400 million, mandatorily convertible preferred stock, optionally convertible preferred stock and warrants for common stock.