What's Going On With Kodak (KODK) Shares Today
Portfolio Pulse from Henry Khederian
Eastman Kodak Co (KODK) shares are trading higher by 2.15% on above-average volume, possibly due to continued momentum after the company and its subsidiaries announced a Term Loan Amendment. The amendment involves the company, Term Loan Lenders affiliated with Kennedy Lewis Investment Management LLC and Alter Domus (U.S.) LLC. The Refinancing Term Loan Lenders have committed to providing the company with $450 million in term loans, expected to be funded by July 21. The funds will be used for various purposes, including refinancing existing loans, repaying credit facility commitments, and meeting general corporate and working capital needs.
July 10, 2023 | 3:46 pm
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KODK's stock is trading higher possibly due to the announcement of a Term Loan Amendment. The company is set to receive $450 million in term loans, which will be used for various corporate needs.
The news of the Term Loan Amendment and the commitment of $450 million in term loans for KODK is likely to have a positive impact on the company's stock in the short term. The funds will be used for various purposes, including refinancing existing loans, repaying credit facility commitments, and meeting general corporate and working capital needs, which could improve the company's financial stability and boost investor confidence.
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