Stock Alert: Just Energy Group Shares Surge 68% In Premarket

(RTTNews) - Shares of Just Energy Group Inc. (JE) have been trading in the range of $0.34 - $4.42 for the past one year, and closed Friday's trade at $0.35, down 0.34%. JE is currently trading at $0.59, up 24 cents or 68.08% in the pre-market session.

On July 17, the company announced that it has obtained the interim order from the Ontario Superior Court of Justice in connection with the plan of arrangement announced on July 8, 2020.

"The order, among other things, grants a limited stay of proceedings and establishes the record date for voting of securityholders with respect to the Plan of Arrangement as July 23, 2020," the company said.

Highlights:

* Conversion of about C$420 million subordinated convertible debentures and preferred shares into new equity. * New cash equity investment commitment of C$100 million. * Extension of C$335 million secured credit facilities by three years to December 2023. * Extension of unsecured debt of US$205.9 million to March 2024 with interest to be paid-in-kind. * Initial reduction of annual cash interest expense by approximately C$45 million.