{"id":33023,"date":"2024-06-25T13:54:57","date_gmt":"2024-06-25T13:54:57","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/what-made-regis-stock-more-than-double-on-tuesday\/"},"modified":"2024-06-25T13:54:57","modified_gmt":"2024-06-25T13:54:57","slug":"what-made-regis-stock-more-than-double-on-tuesday","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/what-made-regis-stock-more-than-double-on-tuesday\/","title":{"rendered":"What made Regis stock more than double on Tuesday?"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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Regis Corp (NASDAQ: RGS) has entered into a \u201cnew senior secured credit facility\u201d with the global asset manager TCW Asset Management Company LLC and Midcap Financial Trust.\u00a0<\/p>\n

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Its shares are up well over 100% on Tuesday.\u00a0<\/p>\n

Why does it matter for Regis stock?<\/h2>\n


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A $105 million term loan, the company\u2019s press release<\/a> added, will replace its existing debt and will help lower its outstanding indebtedness by over $80 million.\u00a0<\/p>\n

Regis Corp will also get to save roughly $7.0 million in annual cash interest as well on the back of today\u2019s announcement. According to Matthew Doctor \u2013 its chief executive officer:<\/p>\n

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This strategic refinancing is a significant milestone for Regis and the next step on our path towards sustainable long-term growth and value creation.<\/p>\n<\/blockquote>\n

Regis stock is still down some 10% versus its year-to-date high in late January.\u00a0<\/p>\n

RGS secured access to $25 million<\/h2>\n


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The agreement announced this morning will also secure access for Regis Corp to a revolving credit facility worth $25 million.\u00a0<\/p>\n

The aforementioned credit facility as well as the term loan will mature in five years (June 24th, 2029). CEO Doctor also said in the press release on Tuesday:<\/p>\n

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We\u2019re pleased to have reached a refinancing agreement that will significantly reduce our debt, improve the health of our balance sheet, and increase our financial flexibility so we can focus on transforming our business operations.<\/p>\n<\/blockquote>\n

The hair salons operator plans on updating investors on its progress during the earnings call for its fourth quarter of 2024. Regis stock does not currently pay a dividend.\u00a0<\/p>\n

Regis took a hit to revenue in fiscal Q3<\/h2>\n


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Chief executive Matthew Doctor dubbed TCW and Midcap investment a \u201ctestament to their confidence in the long-term prospects\u201d of Regis Corp on Tuesday.\u00a0<\/p>\n

He also confirmed that the Nasdaq-listed firm remains committed to \u201cimproving customer experience, implementing new tech, and managing corporate expenses\u201d.<\/p>\n

In May, RGS reported $287 million in system-wide revenue<\/a> for its third financial quarter \u2013 down from $299 million a year ago. Its net loss also increased year-on-year from $1.6 million to $2.3 million in Q3. CEO Doctor said at the time:<\/p>\n

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The Board continues to review strategic alternatives to assess the Company\u2019s capital structure, and we remain dedicated to maximising value for all of our stakeholders.<\/p>\n<\/blockquote>\n

Last week, equity analysts at StockNews.com initiated coverage of Regis stock with a \u201csell\u201d rating. Shares of the hair salons company have a 52-week high of $28 and a 52-week low of $3.87 at writing.\u00a0<\/p>\n

Following today\u2019s surge, shares of Regis Corp are trading well above their 50-day and 200-day moving averages.<\/p>\n

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(Originally posted on : Invezz ) Regis Corp (NASDAQ: RGS) has entered into a \u201cnew senior secured credit facility\u201d with the global asset manager TCW Asset Management Company LLC and Midcap Financial Trust.\u00a0 Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals\u2122 for FREE. Takes 2 mins. Its shares are up […]<\/p>\n","protected":false},"author":30,"featured_media":33024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[39],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33023"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33023"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33024"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}