🟢 Highway Holdings is trading 8% up today after $7 million strategic investment

Highway Holdings is trading 7.55% up at $0.91, coinciding with its November 5 announcement of a $7.0 million strategic investment from David Lazar.

• The company plans to spin off its legacy manufacturing business to existing shareholders and pay a $2.0 million cash dividend.
• Lazar became CEO; conversion of the preferred shares into common shares requires shareholder approval.
• The company expects the spin-off within 365 days after closing.