On CGI, note the following, which, if signed, will likely zoom CGI back up to $3 or $4/share:
Term Sheet for New Credit Facility
The Company has reached an agreement in principle with Bank of America, the agent under its current credit facility, for a new $225 million senior secured revolving credit facility ("Proposed ABL Facility"). The Proposed ABL Facility will be used to refinance the Company’s existing credit facility and support the Company’s ongoing working capital and general corporate needs. Availability under the facility will be based on a borrowing base including accounts receivable, equipment, inventory, and real estate at customary advance rates. The expected closing date is on or about June 30, 2017, subject to customary closing conditions including negotiation and execution of definitive agreements, due diligence, and requisite approvals.
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