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. The company has entered into a stalking horse asset purchase agreement with Lynrock.
September 12, 2024 | 5:47 pm
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Edgio's stock is rebounding following its Chapter 11 bankruptcy filing and a stalking horse asset purchase agreement with Lynrock. This indicates potential investor optimism about the company's restructuring efforts.
The rebound in Edgio's stock price suggests that investors are reacting positively to the company's restructuring efforts, including the asset purchase agreement with Lynrock. This agreement may provide a clearer path forward for the company, alleviating some bankruptcy-related concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100