11:23 AM EST, 01/22/2025 (MT Newswires) -- (Updates with the latest stock movement in the last paragraph.)

IES Holdings ( IESC ) said Wednesday it revised its credit and security deal, doubling its revolving credit facility to $300 million with a maturity date of Jan. 21, 2030.

The revision moves IES Holdings ( IESC ) to a cash flow-based facility, increasing borrowing capacity relative to the previous asset-based model, the company said.

IES CEO Jeff Gendell said the expanded facility will support general corporate purposes, acquisitions, stock buybacks, and other investments.

Shares of the company were up over 10% in recent trading.

Price: 305.00, Change: +28.68, Percent Change: +10.38