Taking inventory: LP revamps credit score deal | Administration

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At a hot hardware store, Louisiana-Pacific executives revised their debt agreement so they pay less interest and the facility lasts longer.

Downtown LP chairman and CEO Brad Southern and his team recently announced that they will moving soon to Midtown’s Broadwest office tower – first signed their current contract with American AgCredit and CoBank in 2013 and have changed it a number of times since then, including last year when COVID took hold. The company had no outstanding loans on its books as of March 31.

Earlier this week, the parties revised their agreement again, including lowering future interest rates, adding a $ 300 million accordion option, and postponing its maturity from mid-2024 to June 2027.

Southern & All have been on the rise lately and have posted a huge first quarter that further solidifies LP’s finances. south early May analysts said he was “very optimistic” about the company’s prospects for the coming year.

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Steel Connect directors are asking shareholders to agree to a reverse stock split that will make the company – which recently relocated to Smyrna – more attractive to more investors.

In Steel Connect’s recently filed proxy statement, the board of directors says the reverse 1:10 split will also help the company – which owns direct marketing firm IWCO Direct Holdings and supply chain manager ModusLink – get out of the bad Stay away from the Nasdaq stock exchange because of a low stock price. Nasdaq regulators discovered last spring that Steel Connect shares had traded below $ 1 for a period; That situation has now been resolved in large part thanks to a large onslaught sparked by the chatter of majority shareholder (and its publicly traded company) Steel Partners Holdings looking to buy the 44 percent of Steel Connect that doesn’t already own it.

Steel Connect shares (ticker: STCN) Closed Thursday at $ 2.20. They have almost tripled since the beginning of the year. Steel Connect’s board of directors formed a special committee earlier this year to evaluate the company’s options in light of Steel Partner’s interest. she has not yet announced her conclusions.