Global Corp. fell another 18% today, continuing their slump after corporate news unnerved investors earlier in the week. They closed at about 70 cents on the New York Stock Exchange, with trading volume at four times normal levels.Shares in Eros STX Global Corp. dropped more than 18% on the New York Stock Exchange today, closing at a bit less than 87 cents, after the company gave updates that unsettled investors.
On the debt front, the company said it is exploring options regarding various obligations, including a £50 million UK retail bond that matures on October 15. STX has $150.1 million outstanding on a credit facility backed by longtime financing partner JPMorgan as well as $22.7 million in mezzanine debt. The credit facility expires October 7 and the mezzanine matures July 7, 2022.The stock, which started trading last year after STX merged with Eros International, is now in a risky range.
The filing noted ErosSTX has entered exclusive talks with a third party interested in participating in proceeds from the company’s 46 library films. That library includes breakouts like the, a recent PVOD success that also netted a lucrative streaming deal with HBO Max. From Amazon buying MGM to a Blackstone-backed group of private buyers acquiring control of Reese Witherspoon’s Hello Sunshine, the pace of dealmaking has been hectic.
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