Stock Price Jumps 27% Following Tulsa Property Transaction
- Educational Development shares rise after sale and leaseback deal
- Sale and leaseback deal for headquarters and distribution warehouse in Tulsa
- Stock trading 27% higher at $2.57
- Proceeds to be used for paying off loans
- 15-year lease signed on the facility
Shares of Educational Development Corporation experienced a significant boost in the after-hours market following the announcement of a sale and leaseback deal for its headquarters and distribution warehouse in Tulsa. The company’s stock price increased by 27%, reaching $2.57. Prior to this, shares had only gained less than 1% during regular trading hours, closing at $2.01. The proceeds from the sale will be allocated towards repaying term loans and a revolving credit agreement with their bank. Educational Development is a publisher and manufacturer of educational toys and games. They have signed a 15-year lease for the facility.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the company’s sale and leaseback deal, its stock performance, and the intended use of proceeds from the sale. It also mentions the duration of the new lease agreement. However, it lacks context on the company’s financial situation or industry trends which could make it more informative.
Noise Level: 2
Noise Justification: The article provides relevant information about a company’s stock performance and its financial decision, but lacks in-depth analysis or contextualization of the event within the broader market or industry trends.
Public Companies: Educational Development ()
Key People: Stephen Nakrosis (Author)
Financial Relevance: Yes
Financial Markets Impacted: The stock price of Educational Development increased after the sale and leaseback deal announcement.
Financial Rating Justification: This article discusses a company’s financial decision to sell its headquarters and distribution warehouse, which impacts their finances and stock price.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
Move Size: 27%
Sector: Technology
Direction: Up
Magnitude: Large
Affected Instruments: Stocks
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