Shuffle Master obtains $5M in additional loan commitments
Gaming supply company Shuffle Master Inc. (Nasdaq:SHFL) said at mid-session today it had gotten $5 million in additional term-loan commitments from Union Bank of California for its new term-loan facility. The aggregate commitments total is now $65 million.
The Las Vegas-based company also said today that the underwriters of a public offering of its common stock have exercised the over-allotment option in full and purchased 2.6 million shares at $4.25 apiece. The net proceeds are expected to be $80.8 million.
At 2:56 p.m. ET, shares are at $4.69, down $0.22 from Friday’s close. Trading volume is slightly above average. During the past year, shares have ranged from $3.93 to $17.87.
For detailed price information and recent news stories about Shuffle Master Inc., click SHFL.
