Why Barnes & Noble Education Shares Are Diving Today
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 16 2024
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Source: Benzinga
- Barnes & Noble Financial Transactions:
- Barnes & Noble Education, Inc. announced financial transactions including a $95 million capital boost through equity investments and refinancing.
- The company will receive $50 million in equity investment and $45 million from an equity rights offering led by Immersion Corporation.
- The deal aims to infuse about $75 million in net cash proceeds after transaction costs and eliminate $34 million of debt through equitization.
- Commitments have been made to refinance existing loans, providing access to a $325 million facility maturing in 2028.
- A short-term stockholder rights plan was adopted, with a dividend distribution of one preferred share purchase right per outstanding common share.
Analyst Views on IWC
Wall Street analysts forecast IWC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IWC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 172.450
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Current: 172.450
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
