An announcement from Geo Group (GEO) is now available.
The GEO Group, Inc. has initiated a private exchange with certain note holders, agreeing to exchange $177 million of its 6.50% Exchangeable Senior Notes due 2026 for an estimated value of $305 million, consisting of cash and GEO common stock shares. The exchange will be based on an average share price over a 20-day period and will account for 77% of the outstanding notes, leaving $53 million still in circulation. This move is part of GEO’s strategic financial maneuvers, and while promising, it is subject to market risks and uncertainties which could impact the company’s future results.
For detailed information about GEO stock, go to TipRanks’ Stock Analysis page.
