By Chris Wack
IES Holdings shares were up 8.1% to $298.71 after the company raised the commitment amount of its revolving credit facility to $300 million from $150 million, and extended the maturity date to Jan. 21, 2030.
The Houston company also expanded the size of the lending group.
The amended credit agreement transitions the company to a cash flow-based facility, allowing increased borrowing capacity compared with the previous asset-based structure.
The stock hit its 52-week high of $320.08 on Dec. 2, and is up 248% in the past 12 months.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 22, 2025 10:12 ET (15:12 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.