Cable One Gains After WSJ Report of Nearing Deal to Raise About $1.25b
Dow Jones
Yesterday
Shares of Cable One climbed after The Wall Street Journal reported the broadband company is near a deal to raise about $1.25 billion in new financing, citing people familiar with the matter.
The stock rose 15%, to $15.20, midday Thursday, but has fallen about 87% this year.
New and existing lenders would provide Cable One a first-lien term loan, the people said, according to the Journal report.
Cable One said last week that it was in advanced financing discussions with private-equity firm GTCR, certain existing lenders and a consortium of private lending institutions.
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