- Tupperware Brands Corporation (NYSE:TUP) announced the prepayment of $58 million of its Term Loan Debt from Angelo Gordon & Co and JP Morgan Chase & Co (NYSE:JPM).
- The company also said that its board of directors had approved comm stock repurchases of up to $250 million.
- Tupperware said the ongoing success of the Turnaround Plan has resulted in improved liquidity position over the past 18 months.
- “The accretive decision to pay down the debt, our continued commitment to invest in our business and our increased confidence in the future cash flow generation of the company also led our Board to approve an enhancement in our capital allocation policy to enable management to buy back stock within agreed-upon guidelines,” said Sandra Harris, Chief Financial Officer.
- Tupperware’s cash and equivalents stood at $154.8 million as of March 31, 2021.
- Price action: TUP shares closed higher by 0.3% at $20.3 on Monday.
Syros Receives FDA Orphan Drug Designation For SY-5609 For The Treatment Of Pancreatic Cancer
Syros Pharmaceuticals, Inc. (NASDAQ:SYRS), a leader in the development of medicines that control the expression of genes, today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug
