Notable News to Watch: Primo Water Corporation (NYSE:PRMW)

Primo Water Corporation (NYSE:PRMW) spotted trading -9.75% off 52-week high price. On the other end, the stock has been noted 128.12% away from the low price over the last 52-weeks. The stock changed -0.07% to recent value of $14.44. The stock transacted 1297319 shares during most recent day however it has an average volume of 989.61K shares. The company has 159.93M of outstanding shares and 155.10M shares were floated in the market.

On Oct. 8, 2020, Primo Water Corporation (NYSE:PRMW) released that its wholly owned subsidiary, Primo Water Holdings Inc. (the Issuer), priced the previously announced private placement offering of €450 million in aggregate principal amount of senior notes (the Notes). The Notes will mature on October 31, 2028 and interest on the Notes will accrue and be payable semi-annually in arrears on April 30 and October 31 of each year, commencing on April 30, 2021 at the rate of 3.875% per annum. The settlement of the Notes is anticipated to occur on or about October 22, 2020, subject to customary closing conditions. The Notes will be guaranteed by Primo and certain of its existing subsidiaries that are obligors under the Company’s senior secured credit facility, 5.50% Senior Notes due 2024 (the 2024 Notes) and 5.50% Senior Notes due 2025.

The net proceeds from this offering, together with borrowings under the Company’s revolving credit facility, will be used to redeem all of Primo’s outstanding 2024 Notes and to pay the related premium, fees and expenses (the Redemption).

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities, nor does it constitute an offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

Its earnings per share (EPS) expected to touch remained -100.30% for this year while earning per share for the next 5-years is expected to reach at 23.70%. PRMW has a gross margin of 54.00% and an operating margin of -2.60% while its profit margin remained -5.30% for the last 12 months.

According to the most recent quarter its current ratio was 0.8 that represents company’s ability to meet its current financial obligations. The price moved ahead of 1.64% from the mean of 20 days, 1.31% from mean of 50 days SMA and performed 10.87% from mean of 200 days price. Company’s performance for the week was 1.26%, 5.02% for month and YTD performance remained 5.56%.

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