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-0.0041414994296369 -0.00684281288541945 -0.0109333732613188 -0.00235091451037531 -0.00298379366287289 0.0331366262601629 0.0178549101388784 0.00674247838563341
Stock impact report

Expedia to raise $3.2 billion in new capital [MarketWatch]

Expedia Group, Inc. (EXPE) 
Last expedia group, inc. earnings: 2/13 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: expediainc.com/contact-investor-relations
Company Research Source: MarketWatch
Shares of Expedia Group Inc. rose 1.3% in premarket trading Thursday after the online travel services company said it was raising $3.2 billion in new capital, in an effort to boost financial flexibility and liquidity. Separately, the company said it response to the impacts of the COVID-19 pandemic on its business, it will implement furloughs and reduced work week programs, suspend matching 401(k) contributions and the CEO and board members will forgo cash compensation for the rest of the year. The new capital will consist of $1.2 billion in a private placement of perpetual preferred stock and $2 billion in new debt financing. Apollo Global Management Inc. and Silver Lake are providing the equity investment. Separately, the company named Vice Chairman Peter Kern as its CEO and Acting CFO Eric Hart as permanent CFO. The stock, which was little change in premarket trading, has tumbled 46.0% over the past three months, while the S&P 500 has lost 15.8%. Show less Read more
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