RCI Announces $15.7M Debt Modification To Free Up More Cash To Buy Back Shares
Portfolio Pulse from Benzinga Newsdesk
RCI Hospitality Holdings, Inc. (NASDAQ:RICK) has modified $15.7 million in debt due October 2024, extending maturities of the notes to free up more cash to buy back shares. The amended promissory notes will continue to be unsecured at 12% interest, with $9.1 million due October 1, 2026, and $6.6 million due November 1, 2027.

October 26, 2023 | 1:03 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
RCI's debt modification to free up cash for share buybacks could potentially increase the company's stock price in the short term.
The modification of RCI's debt to free up cash for share buybacks could be seen as a positive move by investors. This is because share buybacks often lead to an increase in the stock price as they reduce the number of shares in circulation, thereby increasing earnings per share. This could potentially lead to an increase in RCI's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100