Gogo (GOGO) shares jumped 72% in Friday afternoon trading after it completed an amendment and extension of its Term Loan B, supported by substantially all holders.

The company said the transaction extends the maturity of its Term Loan B to October 2030, providing it with an additional 2.5 years of runway to execute its transformation strategy.

Gogo also said the transaction will reduce debt by $75 million through 2027, including an immediate $25 million paydown.

Price: 3.90, Change: +1.63, Percent Change: +71.96