Ann: Private Share Placement, page-48

Thanks, critto, a very informative passage.

My reading suggests that this issue of shares requires shareholder approval in its own right, and does not have to be considered to be being part of the 25% allocation.

With a bit of luck, and without a lot of research, there might be a little float left in the 25% allowance. If so, there would still be an opportunity for NRZ to pick up a few million dollars without seeking shareholder approval.