ErosSTX Shares Fall Again To 70 Cents After Reveal Of Debt Restructuring Efforts, Annual Report Delay & Potential STX Library Sale – Update

ErosSTX Shares Fall Again To 70 Cents After Reveal Of Debt Restructuring Efforts, Annual Report Delay & Potential STX Library Sale – Update
Updated with today’s stock movement. Shares in Eros STX Global Corp. fell another 18% today, continuing their slump after corporate news unnerved investors earlier in the week. They closed at about 70 cents on the New York Stock Exchange, with trading volume at four times normal levels.

Previously: Shares in Eros STX Global Corp. dropped more than 18% on the New York Stock Exchange today, closing at a bit less than 87 cents, after the company gave updates that unsettled investors.

In SEC filings and a press release, the company said it was in the process of restructuring some of its debt and also warned of a delay in delivering its annual report for the fiscal year, which ended March 31. The company said it would not be able to hit the SEC’s annual report deadline “because the company’s Audit Committee is currently conducting a formal internal review of certain accounting practices
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