Pulse Seismic Inc (OTCMKTS:PLSDF) Provides Update About Revolving Credit Facility: Stock Jumps

It is likely that the Pulse Seismic Inc (OTCMKTS:PLSDF) stock is going to come into focus among a range of investors today after it emerged as a notable gainer on Tuesday and ended the day with gains of as much as 5%.

Market Action

On Tuesday, PLSDF stock jumped 4.46% to $1.64 with 195 shares traded, compared to its average volume of 5.17k shares. The stock has moved within a range of $1.6400 – 1.6400  after opening trade at $1.64.

Pulse Seismic Inc. Announces Renewal and Extension of Revolving Credit Facility

In light of such gains, it might be a good time for investors to take closer look at the announcement from Pulse Seismic that had actually led to the rally. On Tuesday, the company announced that it had renewed its revolving credit facility. However, that was not all, Pulse Seismic also noted that it had also extended the maturity period for the credit facility by as long as two years and it will now mature on January 15, 2025.

However, in this context, it is perhaps necessary to note that the amount in relation to the revolving credit facility is going to remain the same. In addition to that, the terms of the facility are also going to be the same despite the renewal. The available amount still remains at $25 million. At this point in time, the company has only utilised $1.4 million from the credit facility and still has $23.6 million available for use.

Traders Note

PLSDF stock is trading above the 10-Day and 20-Day Moving averages of $1.66 and $1.77. Moreover, the stock is trading is the neutral zone with RSI stands at 41.

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