Groupon Inc (GRPN) has released an update.
Groupon, Inc. took a notable step forward in its financial management by prepaying $43.1 million to settle its credit obligations, effectively terminating its existing Credit Agreement without incurring any early termination fees. This strategic move was funded through an $80 million rights offering, aimed at empowering the company with the flexibility to use the funds for various corporate needs, such as paying off debt. The company also ensured it maintained access to essential letters of credit through a separate agreement, highlighting its prudent financial planning.
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