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Lilis Energy secures $140M in new financing

Published 04/26/2017, 02:47 PM
© Reuters.  Lilis Energy secures $140M in new financing
  • Lilis Energy (LLEX +6.1%) climbs as much as 13% after saying it secured $140M in new funding, and that the NYSE accepted its request to move its stock listing to the NYSE MKT from the Nasdaq Global Market, effective May 9.
  • LLEX says the funds consist of a $125M convertible second-lien term loan facility with Verde Partners and $15M in incremental term loans through its existing first-lien credit facility.
  • Verde also gains a board seat with LLEX as part of the deal, which can expand to another seat based on its ownership stake.
  • Now read: It's Time To Pull The T-RIG-ger: Instead Of RICs, Use Credit Bricks


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