RE:Slow trainFrom the Q&A of the CC
Nik Priebe
Okay, that's good. I'll just ask one more. Just wondering if you could help us understand what a spinoff of the RV and Marine financing business might look like. Would this be a distribution of a new public vehicle to existing ECN shareholders, and, you know, do you think the scale of that entity could accommodate, you know, the cost of being a standalone public company? I'm just trying to think through that scenario a little bit more.
Michael Lepore
Sure. Yes. So the spin would be similar to the element ECN spin. The shareholders would receive shares in Triad effectively and shares in a new RV Marine business. So, we're going - as Steve mentioned, we're going through that analysis now. There is some - as part of the strategic review, there's other things we're looking at to bulk up the RV Marine business to give it the scale too that it can stand up as its own standalone business.
Steve Hudson
Nick, we're confident in either, because we're pursuing both that on a spin, that we will shortly internalize the servicing function within RV Marine and add incremental origination channels with banks and institutional investors. Those conversations are well advanced. That's all I can tell you now. But to your point, it will have additional bulk and scale on a spin or a sale.