CompoSecure (CMPO) Soars 7.86% as Firm Lowers Debt, Rebrands
We recently published 10 Stock With Eye-Popping Gains; 5 Are on Fresh Highs. CompoSecure Inc. (NYSE:CMPO) was one of the top performers on Thursday.
CompoSecure extended its winning streak to a third straight day on Thursday, jumping 7.86 percent to close at $25.25 apiece as investors took heart from an initiative to reduce its existing debt, while digesting the impact of its rebranding.
In a statement, CompoSecure Inc. (NYSE:CMPO) said that it was able to reduce its existing old debt following the successful raising of some $2.5 billion in fresh funds from the issuance of $900 million worth of senior secured notes due 2033, a new term loan facility amounting to $1.2 billion, and $400 million in revolving commitments due 2031.
The notes carry a yield rate of 5.625 percent per annum, payable semi-annually on February 1 and August 1 of each year until their maturity.
State budgets shift as mass moves in the U.S. redirect tax revenue and reshape local economic priorities.
Meanwhile, the term loan carries an interest rate based on the standard overnight financing rate plus 2.25 percent, and was issued at a price of 99.875 percent of the face amount.
“This refinancing lowers the company’s overall cost of capital, extends maturities, and enhances liquidity and financial flexibility, strengthening the Company’s capital structure to support continued strategic growth initiatives,” CompoSecure Inc. (NYSE:CMPO) said.
Meanwhile, CompoSecure Inc. (NYSE:CMPO) on Monday announced plans to rebrand to GPGI Inc., which means “Great Positions in Good Industries.” Its ticker symbol would also change to GPGI from CMPO beginning January 23, 2026.
The rebrand followed the successful merger with Husky Technologies Ltd. valuing the merged firm at $7.4 billion.
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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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