PRFZ - Why Barnes & Noble Education Shares Are Diving Today | Benzinga
Barnes & Noble Education, Inc. (NYSE:BNED) shares are trading lower after it announced a short-term shareholder rights plan and a new equity investment.
In particular, the company inked a definitive deal with Immersion Corporation (NASDAQ:IMMR) and existing shareholders and strategic partners regarding new equity and refinancing transactions to boost long-term financial position.
After closing the transactions in June 2024, Barnes & Noble will receive $95 million of new capital through a $50 million equity investment and a $45 million fully backstopped equity rights offering led by immersion.
The deal is projected to infuse net ...