Amrep soars after deal with Bauer

• Amrep (NYSE:AXR +30.3%) soars in early action after solving working capital issues at its Kable Distribution and Palm Coast subsidiaries by settling with Heinrich Bauer.
• As part of the deal, Amrep will issue Bauer 825K shares of company stock (about 10.3% of all outstanding), with Bauer agreeing not to be a seller for at least six months. For its part, Bauer extends the terms of its fulfillment agreement with Palm Coast to at least year-end 2018 and releases all claims.
• Source: Press Release