Luckin Coffee (LKNCY) Enters The New Breakout Zone: Will It Hit $20?

Chinese coffee outlet chain Luckin Coffee Inc (OTC: LKNCY) was in a bad place for many months due to its accounting scandal but it seems that it might be on the verge of making a comeback.

On Tuesday, the Luckin Coffee stock was one of the major gainers as it soared by as sharp as 49% following the company’s announcement with regards to the restructuring of its senior notes. It is a major announcement from the company and the reaction from the market is understandable.

Yesterday, the company managed to thrash out an agreement restructuring support agreement (RSA) with the entities holding the senior notes. It represents a lion’s share of the 0.75% convertible senior notes that are going to be due in 2025. The holders who have signed the agreement make up as high as 59% of the total. The restructuring plan is going to reorganize the debt so that there is a tangible effect on Luckin Coffee’s capital structure.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.

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