Zedge Closes Out Term Loan With $2M Early Principal Payment
Portfolio Pulse from Benzinga Newsdesk
Zedge, Inc. has made an early principal payment of $2 million to close out its term loan. Following the payment, the company's net cash and cash equivalents stand at approximately $16.7 million, or $1.18 per share, which is an increase from the $16.1 million reported as of July 31, 2023.
December 04, 2023 | 11:37 am
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POSITIVE IMPACT
Zedge's early payoff of its term loan and the subsequent increase in net cash and cash equivalents to $16.7 million positively reflects on the company's financial health and liquidity.
Paying off debt early generally indicates a strong cash position and financial stability, which can be viewed positively by investors. The increase in net cash and cash equivalents to $16.7 million suggests that Zedge is managing its finances well, which could lead to a positive short-term impact on the stock price.
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