Barnes & Noble Education stock jumps after shareholders approve $95M investment

Barnes & Noble Education (NYSE:BNED) said on Wednesday its shareholders had approved its previously announced equity and refinancing transactions with Immersion Corp (NASDAQ:IMMR).

Shares of the school-bookstore operator jumped 10% in after-hours trading.

Last month, the company had announced an agreement with Immersion Corp (IMMR) along with certain shareholders and strategic partners to receive $95 million of new capital through a $50 million equity investment and $45 million fully backstopped equity rights.

The company added that its shareholders had also approved the appointment of five new directors to its board of directors, and the re-appointment of two existing directors, Kathryn Eberle Walker and Denise Warren.

The appointments to Barnes & Noble Education’s (BNED) board include Eric Singer, president, CEO and chairman of Immersion’s (IMMR) board, Emily Hoffman, Sean Madnani, William Martin, and Elias Nader.