Among the many stocks that soared on Friday, one of the more notable gainers was the Express, Inc. (NYSE: EXPR) stock. The company, which is involved in apparel retail, saw its stock rocket by as high as 53% on Friday.
The gains made by Express were linked to a major development that took place last week. As everyone knows, Express has been struggling for quite a while and last week the company announced that it struck a new deal that will result in additional financing to the tune of as much as $140 million.
It goes without saying that it is a significant injection of cash and the market seems to have given the deal a thumbs up. The financing is going to consist of a term loan due in May 2024 of $90 million and a delayed term loan of $50 million. The financers with which Express signed the deal are Bank of America Merrill Lynch, Sycamore Partners, and Wells Fargo.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.