Barnes & Noble Education adopts poison pill, gets $95M investment [Seeking Alpha]
Barnes & Noble Education, Inc (BNED)
Last barnes & noble education, inc earnings: 12/5 08:30 am
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US:NYSE Investor Relations:
barnesandnoble.com
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Source: Seeking Alpha
The rights plan will be triggered if a person or group acquires 10% or more of the company's outstanding stock. Each right will entitle existing Barnes & Noble ( BNED ) shareholders to buy one-thousandth of a share of a new series of junior participating preferred stock at $5, thereby diluting the stake acquired by a person or group. BNED has also declared a dividend distribution of one preferred share purchase right on each outstanding share of common stock. The distribution will be made on April 29. The company also said it entered into an agreement with Immersion Corp ( IMMR ) along with certain shareholders and strategic partners to receive $95M of new capital through a $50M equity investment and $45M fully backstopped equity rights. After costs, the transactions will infuse ~$75M of net cash and will eliminate $34M of debt through equitization of a second lien term loan. The company's existing second lien lenders will convert ~$34M of outstanding principal and any accrued
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BNED
News
- Barnes & Noble Education, Inc. (NYSE: BNED) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Barnes & Noble Education: Shares Crater After Proposed Recapitalization - Hold [Seeking Alpha]Seeking Alpha
- Barnes & Noble Education Adopts Short-Term Stockholder Rights Plan [Yahoo! Finance]Yahoo! Finance
- Barnes & Noble Education Announces Milestone Transactions to Significantly Strengthen Balance Sheet and Advance Industry Leading Services for Institutions and Students [Yahoo! Finance]Yahoo! Finance
- Barnes & Noble Education Adopts Short-Term Stockholder Rights PlanBusiness Wire
BNED
Sec Filings
- 4/23/24 - Form SC
- 4/23/24 - Form PRE
- 4/19/24 - Form CERT
- BNED's page on the SEC website