RTTNews | Jan 25, 2021 10:02AM EST

10:02 Monday, January 25, 2021 (RTTNews.com) - Shares of apparel and accessories retailer Express Inc. (EXPR) are surging more than 76 percent or $1.37 in Monday's morning trade at $3.16 after gaining almost 53 percent on Friday.

Columbus, Ohio-based Express said in mid-January that it has entered into a definitive loan agreement with Sycamore Partners as lead lender, along with Wells Fargo and Bank of America Merrill Lynch. The company noted that the loan agreement will strengthen its liquidity position by an additional $140 million.

Express has traded in a range of $0.57 to $5.00 in the past 52 weeks.

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