So they have an additional $25mio of cash that in theory could go towards growing the loan book, in the form of capital to support their financing vehicles. They've already drawn $10mio of that, and it is unclear what for... Fees to advisor (likely $1mio), legal cost ($500K ish). Then what, given they had $21mio of unrestricted cash...? Are they sailing too close to some financial covenants? It's a little odd. Not sure we will ever know. There is still $15mio left, which would in theory support about $400mio loan growth. So next update will be critical now that they've indicate they can and are willing to grow. As I write the SP is back down, so I guess many are still doubting this shop can recover. I tend to think the valuation is attractive and have a small long.
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Last
3.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $41.18M |
Open | High | Low | Value | Volume |
3.0¢ | 3.0¢ | 2.9¢ | $1.551K | 52.06K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 768487 | 2.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.0¢ | 437661 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 734005 | 0.029 |
3 | 1437519 | 0.028 |
2 | 200000 | 0.027 |
1 | 8000 | 0.026 |
1 | 150000 | 0.020 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 437661 | 4 |
0.031 | 451863 | 2 |
0.032 | 349830 | 1 |
0.033 | 3257 | 1 |
0.034 | 267613 | 2 |
Last trade - 15.46pm 14/08/2024 (20 minute delay) ? |
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