A few things:
1) the rebrand from RSL to SRT - why do this if he was to buy 100% of a single entity - in this case surely we would keep RSL and just change it to the NewCo ticker - like every other RTO: MOO became SRO / POK became BUD / AZK became BRN / KNE became D13...
So the rebrand to SRT is because SRT will not change to the new entity - it will be a holding company (what I'd call a 'house of deals')
2) the reference to third parties on this Fintech deal - I think SRT will only be a part owner of the acquisition - I think part-ownership is the model he is working to - perhaps a bit like CHP - that means the SRT name stays and the Newco get its own name (CHP has stakes in a number of plays)
3) the unusually massive holding in SRT of MW - tells me he is not in SRT for a deal - but is building a bigger entity - with a different timeframe - I think SRT will be an entity that has holdings in a number of companies - so he is changing his MO to be a long term holder in a number of select plays - rather than a short term deal-maker (which is Cicero's MO)
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