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NEW YORK, Feb. 3, 2021 /PRNewswire/ Terra Income Fund 6, Inc. (the Company ) today announced that it has priced an underwritten public offering of $34.75 million in aggregate principal amount of 7.00% unsecured notes due 2026 (the Notes ). The Notes will mature on March 31, 2026, and may be redeemed in whole or in part at any time or from time to time at the Company s option on or after February 10, 2023. The Notes will bear interest at a rate of 7.00% per year payable quarterly on March 30, June 30, September 30 and December 30 of each year, beginning June 30, 2021. The Company has granted the underwriters an option to purchase up to an additional $5.21 million in aggregate principal amount of notes. The offering is expected to close on February 10, 2021, subject to customary closing conditions.
ANALYSIS/OPINION:
GameStop has captured the nation’s attention. As widely reported, the gaming retailer’s stock price explosively increased last month from less than $20 to an intraday high of nearly $475. As a result, hedge funds lost billions of dollars in their risky bets against GameStop. Other investors including ordinary members of the public profited from their losses. In this latest cultural battleground, sore losers have started name calling.
Billionaire hedge fund manager Leon Cooperman accused GameStop investors of “sitting at home, getting their checks from the government.” Others have accused them of being “market manipulators” and even “insurrectionists.” When hedge funds behave this way, they simply call it “arbitrage.” Reality check: Hedge funds offered up a free lunch, and the public ate it.
Professional Biography:
From derivatives products to cryptocurrencies, Dan Davis helps clients navigate ever-changing regulatory requirements. Drawing on his years of experience as General Counsel at the Commodity Futures Trading Commission (CFTC), Dan understands how financial services agencies operate. As an experienced complex civil litigation attorney, Dan can defend clients in any forum.
Regulatory perspective meets business-oriented counsel
Clients trust Dan’s experience to help mitigate risks in the face of investigations and enforcement actions and to assess rules issued by financial agencies. From futures commission merchants to swap dealers to derivatives clearing organizations, he is well-positioned to advise on potential enforcement priorities, staff relief and exemptive orders, and submit comments on proposed financial agency rules. Dan has particular experience in handling fraud-related allegations under the Commodity Exchange Act (CEA) and can help clients develop
A federal judge in D.C. recently vacated the CFPB’s short-form disclosure requirement for prepaid products and the related 30-day credit linking restriction, as exceeding the CFPB’s.