Quokka Sports

(QKKA)

was up 54.7% in preopen

Island

trading. After the close Friday, the digital sports entertainment company said announced that it restructured $77.4 million in convertible notes to improve its debt terms and limit the dilution to its common stock.

Quokka said $52.1 million in notes are now outstanding. Earlier this month the company cut 59% of its workforce.