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home / news releases / PEI - PREIT stock rises 24% as it expects to emerge from Chapter 11 soon

PEI - PREIT stock rises 24% as it expects to emerge from Chapter 11 soon

Pennsylvania Real Estate Investment Trust
Pennsylvania REIT (PEI) gains 24% in after-hours trading after reporting that it expects to emerge from Chapter 11 bankruptcy early in December.The U.S. Bankruptcy Court for the District of Delaware confirmed PEI's prepackaged financial restructuring plan in a hearing today.The company said all stakeholders will be unimpaired and all claims will be paid in full.Upon emergence, PEI will have access to $130M in new financing to support its operations and execute on its priorities. Its debt maturity schedule will also be extended.Previously: Pennsylvania REIT Q3 hurt by tenant bankruptcies, COVID, credit losses (Nov. 6)

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PREIT stock rises 24% as it expects to emerge from Chapter 11 soon
Stock Information
Company Name: Pennsylvania Real Estate Investment Trust
Stock Symbol: PEI
Market: NYSE
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