Terms of the new loan deal are done, all the company is waiting for is the ok from the lenders and the loan docs... That is the news we are waiting to hear.
The company back in May 7th started the refinance process to control the debt they had.
They got a signed commitment letter from the banks, It usually takes 60 days to do loan docs etc.. Shorts started to cover because they must be in the know that the company did indeed close on the deal.
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