Getty Images Makes Interest Payments, Cites 'Active Dialogue' With Debt and Equity Holders
GETY sits 82% above its 52-week low of $0.05.
Summary
Getty Images made its senior unsecured note interest payments within the 30-day grace period, avoiding a default. The company disclosed 'active and progressing dialogue' with key debt and equity holders, signaling ongoing restructuring talks. This follows the Aug 31 announcement of delayed payments and the Sept 29 NYSE suspension for abnormally low price. The stock now trades OTC at 9 cents, up 9% on the news. The company has the right to appeal the delisting. The situation remains fluid as negotiations with lenders continue.
At the time of this announcement, GETY was trading at $0.09 on OTC in the Trade & Services sector, with a market capitalization of approximately $37.8M. The 52-week trading range was $0.05 to $3.21. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.