Trinity Place Holdings Inc. TPHS witnessed a significant surge in its stock price on Wednesday after reporting an extension of its mortgage loan forbearance period to January 31. Macquarie PF Inc., the mortgage lender, agreed to the extension, as revealed in an 8K filing on Tuesday.
The Details:
In the filed 8K, Trinity Place Holdings disclosed that Macquarie PF Inc. has acceded to prolong the forbearance period until January 31.
Trinity Place Holdings received a notice from the NYSE American on November 29, citing non-compliance with continued listing standards due to a stockholders’ deficit as of September 30 and losses in three of its four most recent fiscal years. The company was required to submit a compliance plan by December 29.
Following the news of the forbearance period extension, Trinity Place shares experienced a surge in trading volume, with over 46 million shares exchanged during the session, far surpassing the stock’s 100-day average volume of less than 84,000 shares.
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TPHS Price Action: According to Benzinga Pro, Trinity Place Holdings shares surged 80% to 20 cents at the time of publication.
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