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Middleby Announces Series Of Financial Transactions To Generate Cash And Shore Up Balance Sheet

Written by The Ashton Report

Middleby Corp announced Aug. 17 that it will sell $550 million in convertible warrants, amend its senior credit facility, and enter into a capped hedge transaction to offset potential dilution of the convertible debt notes. The moves will generate cash for the multibillion conglomerate while shoring up its balance sheet.   “Consummation of these strategic…

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