Collegiate Pacific announced that due to increased cash flows and continuing conversion of its outstanding warrants, it has now paid in full its outstanding commercial bank line. On hearing the news, the market responded favorably. BOO shares jumped over 5%.
Michael Blumenfeld, CEO, stated, ” our goal of completing two significant acquisitions and returning to a debt free status has been achieved. We will update the final status of the warrant call as soon after the May 20th expiration as we can upon reviewing the final counts.
” We are now in a position where we can agressively review larger and more productive relationships whether they be acquisitions, joint ventures or licensing agreements.”
