{"id":6871,"date":"2013-05-28T05:28:41","date_gmt":"2013-05-28T09:28:41","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=6871"},"modified":"2013-05-28T05:28:41","modified_gmt":"2013-05-28T09:28:41","slug":"otelco-inc-nasdaqotts-restructure-process-completes","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/otelco-inc-nasdaqotts-restructure-process-completes-6871","title":{"rendered":"Otelco Inc (NASDAQ:OTT)&#8217;s restructure process completes"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 05\/28\/2013 (wallstreetpr) &#8211;\u00a0In Friday\u2019s trading session, Otelco Inc (NASDAQ:OTT)\u00a0rose by 25.13%. It opened at $1.93 per share, touched an intraday high of $3.00 and dropped down to close at $1.92 per share. More than 1.49 million shares were traded in Friday\u2019s trading session. This number stood above the average volume of 0.127 million that was measured over a 30-day period.<\/p>\n<p style=\"text-align: justify;\">The company announced that it has finally emerged from bankruptcy and that its balance-sheet restructuring process is now complete. This includes an extension of its senior credit-facility. Otelco Inc (NASDAQ:OTT) repaid $28.7 million on the senior credit facility and has extended its maturity through to April 2016. The remainder of $133.3 million will operate on quarterly principal payments. These will be 1.25% of the new loan amount as well as an interest on outstanding balance, at 6.5%. Apart from this, it will use 75% of its quarterly, free-cash flow to additionally reduce outstanding balance on the loan, every quarter. This facility includes a revolver of $5.0 million which remained un-drawn at closing. These actions, in addition to the some others, complete the requirements of Otelco Inc (NASDAQ:OTT) pre-packaged Plan and permitted Otelco to exit bankruptcy on Friday.<\/p>\n<p style=\"text-align: justify;\">Otelco provides a variety of telecommunications services on a wholesale and retail basis. These include long distance and local calling, network access from and to its customers, dial-up Internet access and digital high-speed, data transport, cable, Internet protocol and satellite television, wireless as well as other telephone-related services. Residential and business customers are the primary markets for these services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 05\/28\/2013 (wallstreetpr) &#8211;\u00a0In Friday\u2019s trading session, Otelco Inc (NASDAQ:OTT)\u00a0rose by 25.13%. It opened at $1.93 per share, touched an intraday high of $3.00 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[2243,2242],"stock_ticker":[],"class_list":["post-6871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-nasdaqott","tag-otelco-inc-nasdaqott","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Otelco Inc (NASDAQ:OTT)&#039;s restructure process completes - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/otelco-inc-nasdaqotts-restructure-process-completes-6871\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Otelco Inc (NASDAQ:OTT)&#039;s restructure process completes - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Boston, MA 05\/28\/2013 (wallstreetpr) &#8211;\u00a0In Friday\u2019s trading session, Otelco Inc (NASDAQ:OTT)\u00a0rose by 25.13%. 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