From the Arena website...
"Arena is a global investment firm and merchant capital provider that seeks to generate attractive, risk-adjusted, stable, and uncorrelated returns by opportunistically investing across the entire credit spectrum in areas where conventional sources of capital are scarce."
"conventional sources of capital are scarce." = no one will lend them money and we will screw over the company we are giving money to.
Google La Jolla. You will find your answer. I am betting this is La Jolla, Bergen, under a different name. They burn bridges and come back with a new name.
This isn't my first rodeo.... Sentiment changed to Sell.
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