Waitr Holdings: Jumps on raising $48.3 mln from stock offering

Waitr Holdings

15/07/2020 15:40

** Online food delivery company's shares  WTRH.O  rise 4.3%
to $3.92
    ** WTRH raises $48.3 mln through the issue of 23.69 mln
shares in its at-the-market (ATM) common equity offering during
March 20 through July 10  urn:newsml:reuters.com:*:nBwbBwgqWa
    ** WTRH plans to utilize $10.5 mln of the proceeds to prepay
a portion of its senior secured term loan and the rest for
operational and growth initiatives, and general corporate
purposes
    ** Co says upon prepayment of the term loan, lenders will
reduce the interest rate by 200 basis points for a one-year
period
    ** As of July 14, WTRH says cash-on-hand was ~$79 mln
    ** WTRH rose 1,075% YTD, as of last close

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))