Proposed Placement is a very welcome achievement by NRZ, but not without some unpleasant implications.
Note the following:
1. It is subject to shareholder approval. No worries, routine activity.
2. Funds will not arrive until end of June 2023.
It is a get out of jail ticket to get NRZ over the end of quarter cash requirements. IMO.
Also, it is an indication of severe financial stress. More funds are urgently needed.
Ann: Private Share Placement, page-7
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