The transaction helped Argo bolster its stability sheet and keep away from chapter after it discovered itself in a precarious scenario when a deal for $27 million in funding fell by way of in October, based on a Jefferies analyst. “The decrease debt load ought to present some aid to ARBK after its beforehand introduced fairness increase with a strategic companion fell by way of,” analyst Jonathan Petersen wrote in a analysis observe dated Dec. 28.

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