AbitibiBowater, Inc. (fka ABWTQ)

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AbitibiBowater Rises on Bankruptcy Exit

AbitibiBowater Inc. (ABWTQ, Free Analysis), a producer of specialty papers for newsprint and other uses, rose more than 45% after the U.S. Bankruptcy Court issued an opinion confirming its plan of reorganization under Chapter 11, clearing the way for its emergency from creditor protection. Despite the likely cancellation of common shares, the common stock surged sharply higher.

The company has entered into commitments for debtor-in-possession financing totaling approximately $300 million, as well as an amendment providing for the continuation of an existing securitization program for its accounts receivable, in the proximately amount of $210 million. The company’s common stock is currently trading for around $3.29 million.

http://sumfolio.com/top-3-small-stocks-with-big-moves-954/