America's Car-Mart Gets Default Waiver; Shares Up Pre-Bell
MT Newswires Live
Jun 22
America's Car-Mart (CRMT) shares were up 16% in Monday's premarket activity after the company said it has reached an amended agreement with its creditors to avoid a default on its debt.
The company said late Friday that the amendment provides it with covenant relief and a defined path forward as it works to preserve liquidity and complete a review of strategic alternatives.
Under the amendment deal, the company said the lenders have agreed to waive defaults until early September, and potentially until November if certain conditions are met.
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