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ENT - Enterprise Metals News Story

A$0.023 0.0  4.6%

Last Trade - 4:37am

Basic Materials
Micro Cap
Market Cap £6.79m
Enterprise Value £6.68m
Revenue £1.91k
Position in Universe 1487th / 1830

BUZZ-Global Eagle Entertainment: Rises on court approval to access DIP financing

Fri 24th July, 2020 3:49pm
** Shares of aircraft connectivity systems provider  ENT.O 
more than double to $5.48 in morning trade, set for biggest
daily pct gain on record
    ** Co obtains interim approval to access $30 mln of its $80
mln debtor-in-possession(DIP) financing  urn:newsml:reuters.com:*:nGNX9fX6wN
    ** ENT, which filed for bankruptcy protection on July 22 due
to COVID-19 impact on airline and cruise industry, says new
financing will help support operations during sale process
    ** Authorized by court to continue payment of employee
wages, salaries and benefits, and to pay vendors, suppliers and
other partners in full - ENT
    ** Under "stalking horse" asset purchase agreement,
substantially all of co's assets will be acquired for $675 mln
by a group led by lenders managed by Apollo Global Management
 APO.N , Eaton Vance Management  EVMGT.UL  and others
    ** Southwest Airlines  LUV.N  represented more than a fifth
of ENT's total consolidated rev in 2019 - SEC filing
    ** In May, more than a century-old car rental firm Hertz
Global Holdings  HTZ.N  filed for bankruptcy protection after
coronavirus-led restrictions crushed business  urn:newsml:reuters.com:*:nL1N2D501J
    ** ENT among most actively traded stock on NASDAQ
    ** YTD, stock down ~55% 

 (Reporting by Shreyasee Raj in Bengaluru)
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