The transaction helped Argo bolster its steadiness sheet and keep away from chapter after it discovered itself in a precarious state of affairs when a deal for $27 million in funding fell by in October, in accordance with a Jefferies analyst. “The decrease debt load ought to present some aid to ARBK after its beforehand introduced fairness elevate with a strategic accomplice fell by,” analyst Jonathan Petersen wrote in a analysis word dated Dec. 28.
