Yes ... there is one coming as per FW saying many times.
His preferred sequencing (I believe) is to get the asset level equity sell down done first. This would set the tone for the Debt and then probably coincident with the equity capital raise at the TopCo level (that's us). FW has also said it a few times that he would like to be around 200M SOI after that raise. With 172M SOI now, a 15% issuance (within the annual placement capability) would take us there.
All a function at what level he can sell equity at ... and the driver of that is really the price received for the asset selldown (which might also be coincident with an equity placement to asset partner to be a equity partner also ... seen plenty of that lately).
VUL Price at posting:
$3.06 Sentiment: Buy Disclosure: Held
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