The waiting game continues for Averett University’s proposal to sell its north campus in an effort to raise needed cash amid a financial pinch.

In order for the university to proceed with the sale, bondholders need to sign off on it.

“Averett University has decided to extend the bond holders’ vote by a few weeks,” Averett President Thomas Powell wrote in a statement to the Register & Bee on Monday when asked about the outcome of the vote.

So far, 46% of bondholders had cast a ballot, which Powell called an “extremely high percentage” of yes votes. The university needs 50% of bondholders to approve it.

The bondholders are part of the process because the university took out $15 million in bonds in 2017. Averett is asking for something known as covenant waivers.

Those waivers are a way f

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