RIPPLES COMPLETE 4million sales of common shares
Ripple Labs has completed the sale of 4 million common shares of MoneyGram. In 15 days complete sales were made tanked significantly is moneyGram shares.
CNF on November 27 reported, Ripple Labs filed a document with SEC announcing the sale of its shares in MoneyGram.
Stated on the form November 25, Ripples entered into an agreement having the right to sell up to 4M shares.
On agreement sales was to take place by March 31,2021, and extend to the agreed maximum. A document filed and released with the SEC yesterday indicates that Ripples has already completed cap sales, document states:
Furthermore, as a result of the transactions described in Item 5 of this Amendment, the Plan terminated pursuant to its terms upon the Financial Institution’s sale of the Maximum Amount.
Ripple makes significant profits from the sale
In six days, Ripples sold approximately 1.96 million common shares at a weighted average daily price of $5.67 and $6.41/share. In a document filed with the SEC on December 4, Ripple Labs reported the sale of 2.04 million common shares.
with the highest weighted average daily price of $7.47 and the lowest at $6.42 per share.
With 573,769 common shares, with shares sold reaching multiple transactions at prices ranging from $6.00 to $5.51 December 11 was the highest selling day. Shares sold were done at significant profit, at a price of $4.10 per share a significant premium to MoneyGram’s market price is what Ripples purchased.
On the other hand, Ripples having completed its $50 million investment in MoneyGram only last November. After the investment, Ripple owned 9.95 percent of the outstanding common shares of MoneyGram,and approximately 15 percent on a fully adjusted basis, including the non-voting warrants held by Ripple.RIPPLES COMPLETE 4million sales of common shares
SEC – SECURITY AND EXCHANGE COMMISSION