Edgio shares are trading higher, rebounding after the company recently filed for Chapter 11 relief. The company entered into a stalking horse asset purchase agreement with Lynrock.
Portfolio Pulse from Benzinga Newsdesk
Edgio shares are experiencing a rebound after the company filed for Chapter 11 bankruptcy. They have entered into a stalking horse asset purchase agreement with Lynrock.
September 11, 2024 | 7:55 pm
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POSITIVE IMPACT
Edgio's stock is rebounding following a Chapter 11 bankruptcy filing and a stalking horse asset purchase agreement with Lynrock, indicating potential investor optimism.
The rebound in Edgio's stock price suggests that investors are reacting positively to the company's strategic move to enter a stalking horse asset purchase agreement with Lynrock, which may provide a clearer path through bankruptcy proceedings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100