NEW YORK (TheStreet) -- American Apparel (APP) - Get Report was one of several stocks trading near $5 poised to move on above-average volume Friday after the clothing maker amended a credit agreement and a billionaire investor disclosed a stake in the company.
said in a regulatory filing that it had amended its credit agreement with Lion/Hollywood, replacing a total debt to earnings before interest, taxes, depreciation and amortization, or EBITDA, financial covenant with a minimum EBITDA financial covenant while raising the interest rate payable from 15% to 17%.
In addition, Lion is entitled to certain board representation and registration nights and was issued a warrant to purchase 16 million shares of American Apparel's common stock at an exercise price of $2 per share.
In a separate regulatory filing, billionaire investor Ronald Burkle said he now holds a 6% stake in American Apparel. The filing shows that between June 10 and June 21, Burkle acquired 4.31 million shares of the apparel maker for approximately $5.93 million.
American Apparel shares were poised to rally after slipping 0.6% to close at $1.77 Thursday. The three-month average daily volume for American Apparel is 89,000, according to Yahoo! Finance.
( FSII) fell by 18 cents, or 3.9%, to $4.40 in Thursday's after-market session even after the company posted third-quarter earnings of 18 cents a share, swinging from a year-ago loss of 9 cents a share, on revenue of $28.7 million. Those figures topped the Thomson Reuters average estimate for a profit of 16 cents a share on revenue of $28.1 million.
Looking ahead, FSI International said it expects net income of $5 million to $6 million in its fiscal fourth quarter on revenue of $27 million to $30 million, compared with the consensus target of $29.4 million. The 50-day average daily volume for FSI International is 89,000, according to the
dropped by 7 cents, or 4.7%, to $1.43 in Thursday's late trading session after the company said it plans to offer shares of common stock, although the ultra-clean power plants manufacturer did not divulge the size or price of the proposed offering. The 50-day average daily volume for FuelCell is 89,000.
rallied by 11 cents, or 27.5%, to 51 cents in Thursday's after-market session after the company said it has signed a $4.6 million long-term supply agreement with
to supply advanced lithium-ion battery modules for incorporation into Proterra's all-electric and hybrid-electric buses. The 50-day average daily volume for Altair is 89,000.
-- Written by Robert Holmes in Boston
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