Bullboard - Stock Discussion Forum ECN Capital Corp ECNNF

Primary Symbol: T.ECN Alternate Symbol(s): ECNCF | T.ECN.PR.C | T.ECN.DB | T.ECN.DB.A | T.ECN.DB.B

ECN Capital Corp. is a Canada-based company. The Company is a provider of business services to North American banks, credit unions, life insurance companies, pension funds and institutional investors (collectively, its Partners). It originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans... see more

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ECN Capital Corp > New Press Release - BharCap Partners Acquires Red Oak Inventory Finance

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Post by PressRelease on Mar 22, 2024 9:15am

New Press Release - BharCap Partners Acquires Red Oak Inventory Finance

GREENWICH, Conn., March 22, 2024 /PRNewswire/ -- BharCap Partners, LLC ("BharCap"), a Greenwich, CT based private investment firm focused on the financial services sector, announces the successful carve-out and acquisition of Red Oak Inventory Finance ("Red Oak" or the "Company"), a commercial...read article.

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Comment by testomax on Mar 22, 2024 9:32am

Funny no mention of $$$....am i missing the number somewhere?

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Comment by Blueswin on Mar 22, 2024 11:24am

February 2024, ECN completed the sale of Red Oak (RV & Marine Inventory Finance platform) • Cash Proceeds of ~$153 million • Disposition expense of $4 million recorded in Q3 2023 • Proceeds applied to reduce senior term credit facility

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Comment by snootchybootchy on Mar 22, 2024 1:04pm

This transaction closed on February 21. This explains the 6.5% spike in share price on February 26. Word must have gotten out and investors bought shares hoping there would be another special dividend.

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ECN Capital Corp