2U Announces Strategic Agreement With Debtholders To Eliminate Half Of Debt And Infuse $110M In New Capital
Portfolio Pulse from Benzinga Newsdesk
2U has entered into a strategic agreement with its debtholders to eliminate over 50% of its debt and infuse approximately $110 million of new capital. This move will allow 2U to invest further in its mission without any interruption to its educational programs and services.
July 25, 2024 | 7:04 am
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2U has entered into a strategic agreement with its debtholders to eliminate over 50% of its debt and infuse approximately $110 million of new capital. This move will allow 2U to invest further in its mission without any interruption to its educational programs and services.
The elimination of over 50% of debt and the infusion of $110 million in new capital is a significant positive development for 2U. This will improve the company's financial health, reduce interest expenses, and provide additional funds for investment in its mission. The seamless continuation of educational programs ensures no disruption in revenue streams, which is positive for the stock price.
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