巴恩斯和诺布尔教育股价周二飙升:发生了什么?

巴恩斯和诺布尔教育股价周二飙升:发生了什么?
2024年05月22日 04:27 Benzinga

Barnes & Noble Education (NYSE:BNED) shares rocketed higher on Tuesday, potentially driven by ongoing developments surrounding a potential strategic transaction with the company.

What's Going On: At the beginning of the month, activist investors Outerbridge and Greenhaven delivered a preliminary $114.5 million recapitalization proposal to Barnes & Noble Education's board.

The proposal included a $57 million rights offering backstopped by Outerbridge, Greenhaven and others, as well as a $57 million direct investment from eight investors at 35 cents per share. Greenhaven and Outerbridge would also have a "PIPE Capacity Option" to directly invest up to $20 million and $7.5 million, respectively, at their discretion.

The proposal outlined provisions like a 10% backstop fee payable in shares, board seats for Greenhaven representatives and the creation of an executive committee to manage a transition to a new CEO.

While the board determined on May 2 that the proposal could reasonably lead to a superior transaction, it did not deem the proposal officially superior. Outerbridge subsequently informed the company on May 6 that it did not intend to participate in further discussions around the proposal.

Last week, the company said in a filing that Greenhaven continues to explore a possible transaction and may continue to have discussions with management and members of the board.

Barnes & Noble Education shares are seeing elevated volatility and trading higher on Tuesday in possible reaction to the ongoing discussions. Barnes & Noble's average session volume is about 3.3 million, according to Benzinga Pro. Tuesday's trading volume was above 196 million at the time of writing.

BNED Price Action: Barnes & Noble Education shares closed Tuesday up 72.6% at 53 cents, according to Benzinga Pro.

Image: Shutterstock

海量资讯、精准解读,尽在新浪财经APP
巴恩斯 诺布尔

VIP课程推荐

加载中...

APP专享直播

1/10

热门推荐

收起
新浪财经公众号
新浪财经公众号

24小时滚动播报最新的财经资讯和视频,更多粉丝福利扫描二维码关注(sinafinance)

股市直播

  • 图文直播间
  • 视频直播间

7X24小时

  • 05-24 汇成真空 301392 --
  • 05-21 万达轴承 920002 20.74
  • 04-29 瑞迪智驱 301596 25.92
  • 04-25 欧莱新材 688530 9.6
  • 04-01 宏鑫科技 301539 10.64
  • 新浪首页 语音播报 相关新闻 返回顶部