STOCKS TELEGRAPH

Author: ST Staff

  • Here is what you need to know about rising Jaguar Health, Inc. (JAGX) stock in Pre-Market today

    Here is what you need to know about rising Jaguar Health, Inc. (JAGX) stock in Pre-Market today

    Shares of the Jaguar Health, Inc. (JAGX) stock continued the rising trend in the pre-market trading session today on July 20, 2021. The momentum was created after the announcement of the closing of a financing of Dragon SPAC byDragon SPAC S.p.A. and Napo EU S.p.A, the Italian subsidiary of Napo Pharmaceuticals, which is a wholly-owned subsidiary of JAGX stock. Jaguar stock price saw a push of 8.28% to reach $1.57 a share at the time of this writing. The stock went high by 10.69% at the previous closing. Let’s take a closer look at recent events.

    Dragon SPAC Financing:

    The gross proceeds for the Dragon SPAC financing were totaled approximately 8,830,000 euros. This financing is the result of previously announced $10.8 million funding by the Jaguar stock into Dragon SPAC. The funds obtained from the recently registered direct offering were used in this financing. The net proceeds resulting from the private placement will be used to finance Dragon SPAC’s merger with Napo EU. Furthermore, the net proceeds would also help in financing the combined activities after the merging of Napo EU and Dragon SPAC. The merger is expected to be completed within the next three months.

    How Jaguar Health will help Napo EU:

    The Napo EU is dedicated to expanding its plant-based medicines in Europe in order to fulfill the gastrointestinal medical needs of the consumers. The JAGX stock will help Napo EU by providing the exclusive Napo license for the development and commercializing of Crofelemer in the European market.

    Completion of Phase 2 HALT-D study:

    On July 14, 2021, JAGX stock did announce the completion of the Phase 2 HALT-D study which was initiated by the third-party investigator. The study was related to the evaluation of the effectiveness of Mytesi®, a Crofelemer, against HER2-positive breast cancer patients in order to analyze the symptomatic relief in diarrhea. The Georgetown University sponsored the investigator and Genentech which is a member of Roche Group, did funding.

    JAGX annual shareholders’ meeting:

    Due to the lack of quorum, the annual shareholders’ meeting of JAGX had been adjourned for the third time and now will be held on August 6, 2021, at the San Francisco office. The record of the eligible JAGX stockholders for the annual meeting is April 12, 2021.

    Wrap Up:

    So far so good for JAGX stock as far as market sentiment is concerned. Crofelemer’s first-in-class mechanism would prove to be beneficial for the people and would make an impact in the future. Hence JAGX stock can be a good bet for investors in the long run.

  • On What Basis Did CCK Stock Rise In Afterhours Trading?

    On What Basis Did CCK Stock Rise In Afterhours Trading?

    Shares of Crown Holdings Inc. (CCK) were trading up 4.10% after-hours at $105.50. At last session’s close, CCK stock concluded at $101.34, down -2.37% or $2.46. Over the course of the day, the price of CCK stock fluctuated between $100.80 and $103.36.  This day’s volume for CCK stock was 1.35 million shares, exceeding the company’s daily volume of 1.02 million for the past 50 days, and exceeding its volume of 1.03 million for the year to date.

    In the past 12 months, CCK stock has retreated 48.46%, and in the last one week, the stock has moved down -4.24%. CCK stock has gained 6.45% over the last six months, and over the last three months, it has decreased by -6.83%. Thus far this year, CCK stock is up 1.14%. In addition, the price-to-earnings ratio of CCK stock stands at 19.41. In response to the release of its quarterly results, CCK stock rose.

    How has CCK performed in the reported quarter?

    Crown Holdings runs subsidiaries that provide rigid packaging products to consumer marketing companies worldwide. Among the services, equipment and products CCK offers is transit and protective packaging to a broad range of customers. Yardley, Pennsylvania, is home to CCK’s world headquarters.

    The financial results of Crown Holdings for the second quarter ended June 30, 2021 have been announced.

    • CCK’s net sales for the second quarter were $2,856 million, up from $2,137 million for the second quarter of 2020.
    • Among the causes of the rise in net sales were higher unit volumes for beverage cans and transit packaging, higher material costs passed through, as well as $125 million in favorable currency exchange rates.
    • Accordingly, CCK’s second-quarter earnings were $385 million compared to $208 million in the same quarter of 2020.
    • Segment income in the second quarter at CCK was $395 million, compared with $250 million a year ago.
    • Increased sales unit volumes and $18 million of favorable currency translation drove the CCK’s segment income.
    • CCK continued to position itself for another record year in earnings despite its strong performance during the second quarter.
    • In addition to the increased earnings per share and segment income, the volume of beverage cans at CCK rose by 20% across all global regions, contributing significantly to the growth.
    • Several of the regions adversely affected by the pandemic, including Brazil, all of Europe, Mexico, the Middle East and Southeast Asia, have seen improved demand since the pandemic.
    • Even with certain challenges posed by supply chain disruptions, each of CCK’s businesses performed exceptionally well.

    What helped CCK to post positive results?

    Several cost reduction initiatives initiated by Transit Packaging contributed to Crown Holdings (CCK)’s strong performance. CCK’s global manufacturing activity has also improved steadily. Its capital allocation strategy of returning cash to shareholders has resulted in CCK repurchasing $379 million of common stock thus far this year.

  • Property Solutions Acquisition Corp. (PSAC) Stock Trends Higher Following Development of Partnership with Faraday Future

    Property Solutions Acquisition Corp. (PSAC) Stock Trends Higher Following Development of Partnership with Faraday Future

    Property Solutions Acquisition Corp. (PSAC) stock prices were up by 2.71% as of the market closing on July 19th, 2021, bringing the price per share up to USD$13.62 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 4.55%, bringing it up to USD$14.24.

    Minimal Redemptions

    July 19th, 2021 saw the company announce the passing of the deadline for electing redemptions, with the outcome resulting in 99.91% of funds staying in PSAC’s trust account as of the closing of the proposed merger with Faraday Future. In celebration of its upcoming public listing, the company is set to host a webcast of its opening bell ringing ceremony at the Nasdaq MarketSite in Times Square, with the even scheduled for July 22nd 2021.

    FPO Program

    The company also plans to concurrently launch an online event to announce the Futurist Product Officer program, as well as its new reservation policy of the ultimate intelligent techluxury FF 91 Futurist. The partnering company is on course to provide roughly USD$1 billion in gross proceeds via the proposed business combination.

    FF Intelligent Application

    July 19th 2021 also saw the company announce the launch of its new highly-interactive FF Intelligent App, which facilitates the ability to reserve a FF 91 through the application. Users can also become integrated with FF’s user ecosystem, enjoying the benefits of the FF community, products, and technologies. Integration within the ecosystem will also allow for user-side input in regard to the products and business they interact with.

    Scope of Intelligent App

    Users of the FF Intelligent App will have the option to create an FFID, book exclusive test rides, and book tours of FF’s global HQ in Los Angeles. In addition to being an FF 91 reservation platform and social community, it is at the forefront of the company’s value co-creation via the sharing of their FF user ecosystem. Users can learn about the company’s product portfolio and interact with FF’s cutting-edge technology that makes it a leader in the EV space. In addition to the social community, users will also be able to sign up for an innovative Futurist Product Officer program, facilitating interaction between users and FF employees.

    Future Outlook for PSAC

    Armed with a lucrative upcoming public offering that will generate a substantial influx of capital, PSAC is poised to capitalize on the opportunities afforded to it from its strategic partnership with FF. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate organic growth over the long-term.

  • Overseas Shipholding Group, Inc. (OSG) stock plunged in the premarket trading session; here’s why

    Overseas Shipholding Group, Inc. (OSG) stock plunged in the premarket trading session; here’s why

    In the premarket trading session, the share price of (OSG stock) was observed to be plunging by -5.64% to trade at the price of $2.51 at last check. The previous session of the OSG stock was recorded to have dropped -0.75% to close Tuesday’s session at $2.66. The stock volume traded was 1.05 million shares. In the past year up to date, OSG shares have jumped by 27.88%, and in the past week, it was observed that the stock has dropped down by -1.12%. In the past three the stock had jumped by 13.68%, while over the past six months, there was an addition of 19.82%. Furthermore, the company is currently valued at $231.07 million and has 90.11 million outstanding shares.

    All you need to know about Overseas Shipholding Group, Inc.

    Overseas Shipholding Group, Inc. is an Oil & Gas Midstream company that specifically focuses on the transportation of crude oil and petroleum products that are part of the flag trades in United States. OSG stock does its business model of operations through naval and oceangoing vessel channel. Overseas owns a fleet of oceangoing vessels. These vessels are owned by Overseas Shipholding Group as well as its subsidiaries. The company owned 21 vessels’ fleet as of December 2019. This totaled an aggregate of 1 million deadweight tons approximately. The client base that requires services of OSG stock include oil traders, refinery operators, and entities of international as well as specifically United States. Overseas Shipholding Group originated in the year 1948 and is based in Tampa, Florida.

    An announced receipt by another party for non-binding intention of acquiring OSG stock

    The OSG stock has announced that its common stock shares that are outstanding and issued have been shown an interest to be acquired by another company.  Overseas Shipholding Group stated that this interested company has given a receipt which states that it has given a non-binding nature of intention to acquire all of the issued and outstanding shares of OSG stock. The whole of the common share OSG stock has been offered a price aggregated at $3.00 per share.

    The Board of Directors sitting in the OSG office have taken an interest in this proposition and have therefore initiated a strategy to explore avenues, to review and evaluate all alternative options available as a way to compare the offer’s worth. This strategy would encompass the priority to find ways that can increase the value of the shareholder along with the non-binding indication of interest.

    A newly deployed and newly formed committee for a special transaction will lead this strategic exploration and process. This committee will have independent actors which are fully supported by the management team of the OSG stock company. The financial advisor chosen for this special transaction by the committee is Evercore. Among the various alternative options that can be explored are sales of all or part of the company, merger, or any other business combination that can involve another party. This could also involve the complete disregarding of the offer if the current and future running and management of the company compares to be more profitable.

  • AEHR Stock Is Trading Higher In Premarket Session Today, Why?

    AEHR Stock Is Trading Higher In Premarket Session Today, Why?

    At last check, shares of Aehr Test Systems (AEHR) were rising 7.82% to $6.89 in pre-market trading. AEHR stock closed last session at $6.39, up 87.94% from the previous day. In the last 50 days, AEHR stock has averaged 4.83 million shares per day, but recorded 139.7 million of volume in the Monday session. AEHR stock surges after a significant order is secured.

    What order did AEHR receive?

    Aehr Test Systems provides systems to burn-in and test integrated circuits, memory chips, optical chips, and optical sensors on a worldwide basis. There are more than 2,500 AEHR systems in operation worldwide. In addition to the FOX WaferPakTM Aligner, FOX WaferPakTM Contactor, FOX DiePak Carrier, and FOX DiePak Loader, AEHR has developed and introduced various innovative testing and burn-in products.

    With AEHR’s WaferPak contactors, IC manufacturers can test and burn-in full wafers up to 300 mm using AEHR’s FOX systems for testing. In order to perform cost-effective final testing and burn-in of bare dies and modules, AEHR developed the DiePak Carrier, which is a disposable, reusable package.

    One of Aehr Test’s lead silicon carbide test and burn-in customers has placed a $10.8 million order for multiple FOX-XP systems.

    • Additionally, the order includes AEHR’s full sets of WaferPak Contactors to support their growing production capacity requirements.
    • AEHR’s customer is an automotive semiconductor device supplier that is ranked among the Fortune 500.
    • As soon as six months from now, AEHR expects to ship those FOX systems and WaferPaks.
    • With this FOX-XP silicon carbide system, eighteen silicon carbide wafers can be tested simultaneously in the footprint of a typical single wafer test solution with 100% of the devices being tested simultaneously, on every wafer.
    • In addition to testing 100mm and 150mm silicon carbide wafers, the AEHR system can also test 200mm wafers expected in the near future.
    • All WaferPak Contactors, WaferPak Aligners, and Test Systems are integrated into one system from AEHR.
    • A number of additional FOX systems and WaferPak Contactors will be ordered by this customer in the current fiscal year, and this customer expects to place a significant number of systems and WaferPaks over the next few years due to the demand for electronic vehicles.

    What does this order mean for AEHR?

    In order to meet the customer’s test requirements, AEHR worked closely with this customer to obtain additional FOX-XP systems and WaferPaks. The order verifies AEHR’s FOX-P platform and WaferPak full wafer contactors as production-qualified. AEHR stock seems to be continuing the rally it has started after posting encouraging quarterly results last week.

  • Oxbridge Re Holdings Ltd. (OXBR) Stock Continues Downward Spiral Despite Filing of SPAC Registration Statement

    Oxbridge Re Holdings Ltd. (OXBR) Stock Continues Downward Spiral Despite Filing of SPAC Registration Statement

    Oxbridge Re Holdings Ltd. (OXBR) stock prices were down by 2.52% as of the market closing on July 19th, 2021, bringing the price per share down to USD$3.48 at the end of the trading day. Subsequent premarket fluctuations have seen the stock fall by another 7.47%, bringing it down to USD$3.22.

    Registration Statement Filed

    July 19th, 2021 saw the company’s SPAC and indirect subsidiary, Oxbridge Acquisition, file a Registration Statement on Form S-1 with the Securities and Exchange Commission. The Registration Statement submitted to the SEC was in regard to a proposed initial public offering of the company’s units. The lead investor in Oxbridge Acquisition’s sponsor is the company’s wholly-owned licensed reinsurance subsidiary, Oxbridge Reinsurance Ltd.

    Oxbridge Expansion

    The investment is being made as a part of Oxbridge’s reinsurance business plan, wherein Oxbridge Reinsurance anticipates investing in SPACs that are sponsored and/or managed by OXBR management. The aim of these investments is to facilitate capital growth and surplus of Oxbridge Reinsurance over the long term. Following this move, Oxbridge Acquisitions plans to allocate resources towards the disruptive technology market, with a focus in the insurance technology (InsurTech), blockchain, and AI technology sectors.

    Details of the Offering

    As per the filing of Form S-1, the proposed public offering is anticipated to have a base offering size of USD$100 million, which could be bumped up to USD$115 million in the event of underwriters exercising the over-allotment option in full. With Oxbridge Acquisitions being directly initially owned by OAC sponsor, organized and initiated by the company’s executive officers, OAC is set to own 20% of the common stock issued upon the consummation of the offering.

    Improved Financials

    The quarter ended March 31st, 2021 saw the company report having generated net income in the amount of USD$28,000, representing breaking even on a per basic and diluted common share basis. This is a significant improvement from the USD$264,000 net loss reported for the same quarter of the prior year, which represented a net loss of USD$0.06 per basic and diluted common share. The year-over-year improvement was largely driven by a positive change in the fair value of the company’s equity securities, as compared to the financial markets having been devastated by the onset of the Covid-19 pandemic in the prior-year quarter.

    Future Outlook for OXBR

    Armed with confidence-inspiring improvements in its financials, OXBR is set to expand its foray into burgeoning key sectors such as cryptocurrency and insurance technology. The company is keen to expand its network of acquisitions to usher in significant and sustained growth over the long term.

  • What Drove SLGG Stock Higher In Extended Trading?

    What Drove SLGG Stock Higher In Extended Trading?

    In after-hours trading on Monday, Super League Gaming Inc. (SLGG) gained 10.18% to $4.98. SLGG finished the last trading session at $4.52, down -0.66% from its previous closing price. Shares of SLGG traded between $4.35 and $4.70. SLGG stock traded 0.44 million shares, below its 100-day average of 6.6 million shares.

    SLGG shares have dropped by -7.38% in the last five days, while they have fallen by -24.92% over the past month. SLGG stock rose on the announcement that the company will be celebrating the moon landing anniversary.

    SLGG will be celebrating in what way?

    Thousands of players can create, connect, compete, and enjoy their favorite video games on Super League Gaming, a gaming and esports community platform that offers a wide variety of gaming content and community features. A number of the biggest titles are offered in SLGG’s competitive gaming tournaments, which are fueled by proprietary and patented technology systems.

    Furthermore, SLGG offers gaming features that let youngsters create and experience their own Minecraft worlds, as well as production and distribution software tools that enable billions of kids to watch video-on-demand content every year. SLGG offers a range of new services, including in-game monetization, a virtual video production studio, and partnerships with global consumer brands.

    It was announced that Super League Gaming’s MoonJam Festival had begun.

    • A month-long series of events and activities begin with Moonjam, a tribute to the 52nd anniversary of the historic Moon landing within the Minehut Game Lobby, a meeting place for Super League’s vibrant Minecraft community.
    • The festivities begin with a special MoonJam concert on July 20th at 11:00 a.m. PT.
    • Minehut’s new concert venue will welcome award-winning recording artist AJR and rising star Gunnar Gehl in an entirely original and brand new performance experience.
    • Super League’s Virtualis Studios will stream the concert LIVE on the Minehut YouTube channel and TikTok for those who cannot attend the concert in person.
    • It will be hosted by Minecraft YouTuber Shubble and professional wrestler and entertainer Booker T as well as highlight the Festival’s activities, such as mini-games with special prizes, zero-gravity areas, and interactive bonuses such as particle emotes.
    • Super League Gaming and Minehut will look to the Moonjam Festival as a crucial event for their future.
    • The lineup includes AJR, Gunnar Gehl, Booker T, Shubble, and a live broadcast that will be watched by legions of worldwide fans.
    • Content-driven experiences that are exclusive to Super League are part of its passion.

    Is it a growth driver for SLGG?

    Recent growth of SLGG, especially among young gamers, has been made possible by this strategy, and it will remain a key component of the company’s strategy going forward. As part of the Moonjam event, Super League Gaming (SLGG) will stream the Moonjam concert for twelve hours on July 20th, and then players can enjoy Minehut’s Summer Nights themed exclusive lobby for a full month with prizes from Minehut and other partners..

  • How PLXP Stock Expanded In Afterhours Trades?

    How PLXP Stock Expanded In Afterhours Trades?

    At the last check, PLx Pharma Inc. (PLXP) shares were trading at $19.50, an increase of 14.84 percent in after-hours trading. PLXP stock rose 1.68% on Monday to close at $16.98. On the day, 0.73 million shares of PLXP stock were traded, which was higher than the average daily volume of 0.46 million shares. In the last 12 months, shares of PLXP have risen 487.54%, and they have risen 36.60% in the last week.

    Over the past three months, PLXP has seen its stock rise 61.56%, but over the past six months, it has tumbled 185.79%. In addition, PLXP is currently listed at $392.41 million on the market and its shares outstanding stand at 22.98 million. As part of its business strategy concerning expanding the availability of VAZALORE, PLXP stock rose.

    How did PLXP make that move?

    PLx is a specialty pharmaceutical company whose PLxGuard drug delivery platform has been clinically validated and is patent-protected, and which is dedicated to creating safer products and more effective therapies. The PLxGuard drug delivery platform allows PLXP to target pharmaceutical ingredients to specific regions of the gastrointestinal (GI) tract. Through the platform PLXP has developed, many drugs that are currently available or are in development could be better absorbed and increase the risk of stomach erosions and ulcers associated with certain drugs. PLXP’s leading products include VAZALORE 325 mg and VAZALORE 81 mg, referred to collectively as “VAZALORE”.

    PLx announced that more than 8,000 Walgreens locations nationwide will begin to offer three stock-keeping units (SKUs) of VAZALORE ” a liquid-filled aspirin capsule that is first and only capsule approved by the Food and Drug Administration (FDA).

    • The Walgreens chain of retail pharmacies is among the world’s leading brands.
    • In order to reserve floor space at Walgreens for all three SKUs: VAZALORE 81 mg, 12 count; VAZALORE 81 mg, 30 count; and VAZALORE 325 mg, 30 count, placeholders have already been placed.
    • PLXP has moved ahead with its commercial launch plans by partnering with Walgreens, which will carry all three SKUs of VAZALORE in over 8,000 of the company’s stores.
    • Walmart’s health and wellbeing focus is aligned with PLXP’s aim of bringing VAZALORE to as many people as possible so they can benefit from PLXP’s unique aspirin therapy.

    What PLXP has announced previously?

    PLx (PLXP) last week announced that its VAZALORE products will be sold at more than 4,500 Walmart stores in the United States by mid-August. As a result, Walmart has already inserted placeholders on the shelves to alert customers about the arrival of PLXP’s VAZALORE. At the time, Walmart committed to stocking all three VAZALORE product SKUs in the next few weeks, using “Coming Soon” placeholder shelves.

  • NovaBay Pharmaceuticals, Inc. (NBY) Stock Surges Following Announcement of Partnership with ImprimisRx

    NovaBay Pharmaceuticals, Inc. (NBY) Stock Surges Following Announcement of Partnership with ImprimisRx

    NovaBay Pharmaceuticals, Inc. (NBY) stock prices surged by 13.0835% some time after market trading commenced on July 19th, 2021, bringing the price per share up to USD$0.6517 early on in the trading day.

    Partnership with ImprimisRx

    July 19th, 2021 saw the company announce its partnership with ImprimisRx, leading ophthalmological pharmaceutical businesses in the United States. The partnership will facilitate the proliferation of Avenova, driven by the widespread promotion of prescription treatment. ImpromisRx will provide NBY with national sales, marketing, and distribution support for the FDA-cleared treatment, which comes in 40 ml bottles as a 0.01% hypochlorous acid. The treatment has been clinically proven to be effective in the management of numerous chronic eye conditions as an antimicrobial lid and lash solution.

    About ImprimixRx

    The partnering company has a proven track record of successfully commercializing high-quality products through its extensive consumer base of thousands of ophthalmologists and optometrists. This position itself superbly to partner up with NBY to expand the reach of Avenova. With its cutting-edge model, ImprimisRx has streamlined the ordering and delivery of products by making the pharmaceutical value chain leaner.

    Details of the Agreement

    As per the agreement, the expansion of Avenova within the prescription channel via cost-effective means has been made possible. This will be done by facilitating the engagement of ophthalmologists and optometrists, enhancing the accessibility of Avenova to unprecedented levels. The compelling addition of the treatment to the company’s ophthalmic product portfolio is set to support its long-standing commitment to its loyal customer base.

    Scope of Avenova

    The treatment caters to a massive dry eye market that is rapidly growing, with the current indication of as many as 30 million Americans reporting suffering from chronic eye conditions, such as blepharitis and meibomian gland dysfunction. The unique treatment is the only lid and lash spray that is suitable for everyday use, having been formulated with NovaBay’s patented pure hypochlorous acid. Avenova is typically prescribed before and after cataract and Lasik procedures by ohthalmologists and optometrists, consolidating it as a complementary treatment for many of the partnering company’s existing product line.

    Future Outlook for NBY

    Armed with the expansive scope of its new strategic partnership, NBY is poised to capitalize on the added opportunities in front of it. The company is keen to usher in further growth by allocating resources towards the expansion and consolidation of the market footprint of Avenova. Investors are confident in management’s ability to leverage their resources to drive increases in shareholder value.

  • Kite Realty Group Trust (KRG) Stock Trends Lower Despite Merger Announcement with RPAI

    Kite Realty Group Trust (KRG) Stock Trends Lower Despite Merger Announcement with RPAI

    Kite Realty Group Trust (KRG) stock prices were down 9.84% shortly after market trading commenced on July 19th, 2021, bringing the price per share down to USD$18.78 early on in the trading day.

    Merger Agreement with RPAI

    July 19th, 2021 saw the company announce having entered into a definitive merger agreement with Retail Properties of America, which would see the conversion of RPAI into a subsidiary of KRG, with the latter continuing forth as the sole surviving public company. The strategic transaction facilitates the merging of two stellar product portfolios and complementary geographic footprints, thereby facilitating the creation of a top-five shopping REIT, according to enterprise value.

    Combined Scope

    The merged company is expected to have a massive market cap of almost USD$4.6 billion, with a total enterprise value of roughly USD$7.5 billion, following the closing of the transaction. These forecasts are based on the closing price of KRG shares as of the end of July 16th, 2021, which saw each share have a price of USD$20.83. The combination of the accretive transaction with a strong balance sheet and a vast scope of value creation opportunities is expected to result in sustained increases in shareholder value over the long term.

    Details of the Merger

    As per the agreement, each common share of the partnering company will be converted into 0.623 newly issued shares of KRG common stock as a part of the 100% stock-for-stock transaction. As of the closing price of KRG stock on July 16th, 2021, the conversion rate represents a 13% premium to the closing price of RPAI at the same time. Shareholders of KRG are expected to retain ownership of roughly 40% of the combined company’s equity, while the other 60% will be held by RPAI shareholders.

    Assuming RPAI’s Debt

    The company will assume the entirety of RPAI’s debt and has accordingly secured a financing commitment that will give it access to USD$1.1 billion in a term loan bridge facility, in the case of debt consents failing to be obtained prior to the closing of the transaction. The closing of the transaction is expected for the fourth quarter of fiscal 2021.

    Future Outlook for KRG

    Armed with a massive strategic acquisition in the works, KRG is poised to capitalize on the significantly expanded scope of the resources it finds at its disposal. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal and will facilitate a smooth transition through to the closing of the merger agreement.