Home Top Movers Sale-Leaseback Deal Driving Nortech Systems Inc. (NSYS) Higher Today

Sale-Leaseback Deal Driving Nortech Systems Inc. (NSYS) Higher Today

Nortech Systems Incorporated (NSYS) was up more than 40% at last check on Friday trading. The electronics components company was up $1.60 at $5.56 from the previous closing price of $3.96.

After close of the market on Thursday, Nortech announced a sale and leaseback transaction worth $6.3 million. The transaction involved two of its facilities in Minnesota at Mankato and Bemidji. The company intending utilizing the sale proceeds to mainly lessen its debt burden and affiliated expenses. Other utilization of the funds has planned to be paying the taxes down.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


The company closed the sale deal by signing an agreement for both of its Minnesota based facilities. As per the agreement company would initially lease those two facilities for a longer term. The lease tenor would initially be of 15 year with several options to renew that agreement.

President and Chief Executive Officer of Nortech, Jay D. Miller was excited upon completion of the deal. He said that the sale and leaseback agreement would result in generation of plenty of cash for the company. He also shared the company’s priority to utilize those proceeds. He said that same would be used to repay the debts. Funds so generated would also be used to realign the financial position of the company. And this will help the company to confidently invest in capital equipments and make aggressive business strategies.

Nortec, for long, have collaborations with companies in industrial, medical and defense sectors. That made the company innovative, quick and intelligent enough to do business globally. And offer its professional expertise so gained to provide customers with manufacturing as well as engineering solutions.

Services provided by Nortech make its clients to be able to lead their peers in different goals. Nortech also help its clients to be sound in data management and digital abilities to achieve their targets smoothly.

Nortech makes every effort to be foremost choice for its customers. The company also strives to further strengthen its collaboration internally as well as in communities where it works, Miller said.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Flora Growth Corp. (FLGC) stock declines during premarket. Here’s what you should know?

Flora Growth Corp. (NASDAQ: FLGC) stock gained by 49.67% at last close whereas the FLGC stock price plunged by 18.36% in the pre-market trading...

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Tonix Pharmaceutics Holdings Inc. (TNXP) stock gains during current market. What’s driving it high?

Tonix Pharmaceuticals Holdings Inc. (TNXP) stock gains by 2.81% in the current market trading session. Tonix is a clinical-stage biopharmaceutical business dedicated on finding,...

Intec Pharma Inc. (NTEC) stock declines during current market after a massive upraise. What’s happening?

Intec Pharma Inc. (NASDAQ: NTEC) stock drops by 7.88% during the current market trading session. Intec Pharma is a clinical-stage biopharmaceutical firm specializing in...

Related News

Intec Pharma Inc. (NTEC) stock declines during current market after a massive upraise. What’s happening?

Intec Pharma Inc. (NASDAQ: NTEC) stock drops by 7.88% during the current market trading session. Intec Pharma is a clinical-stage biopharmaceutical firm specializing in...

F5 Networks Inc. (FFIV) stock soars during pre-market trading. Here’s to know why?

F5 Networks Inc. (FFIV) stock gained by 0.23% at the last close while the FFIV stock surged by 6.05% in the pre-market trading session....

Here is why Cerecor Inc. (CERC) stock turnaround in the after-hours on Monday?

Cerecor Inc. (CERC) shares gained 12.23% in after-hours on Monday, July 26, 2021, and closed the trading at $3.12. in the regular trading session,...

Here is why Bit Digital Inc. (BTBT) stock skyrocketed on Monday?

Bit Digital Inc. (BTBT) shares declined 10.94% in after-hours on Monday, July 26, 2021, and closed the day at $7.90. Earlier in the regular...

Why did Protagenic Therapeutics Inc. (PTIX) stock commence the new week with a negative trend?

Protagenic Therapeutics Inc. (PTIX) shares declined 13.82% in the pre-market on Monday, July 26, 2021, as of this writing. In after-hours on Friday, Protagenic...

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam