Prairie Provident Resources Announces Transformative Recapitalization Transactions
Transactions include Senior Credit Facility Extension, New Second Lien Financing, Repayment of Subordinated Notes with Equity and related Warrant Exercise, and Brokered Equity Financing Completion will significantly reduce total indebtedness by $68 million, repositioning the Company to be 1.5x to 2.0x exit debt-to-EBITDA with estimated free funds flow of $17 million to $22 million in…