Quokka Jumps 54.7% on Debt Restructuring
Quokka Sports
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was up 54.7% in preopen
Island
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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.
