Cable One shares rose after the company said it is in advanced discussions with GTCR, certain existing lenders and a consortium of private lending institutions regarding financing transactions to address certain forthcoming capital needs.
The stock was 13% higher, at $11.70, in morning trade, after it hit its 52-week low of $9.90 on Thursday.
Cable One said no definitive agreements have been entered into thus far, and that there can be no guarantee that any transaction will materialize.
Separately, Cable One and GTCR have agreed to an extension of the deadline for the completion of Cable One's purchase of the 55% remaining stake that Cable One doesn't already own in Mega Broadband Investments Holdings to Oct. 9.
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