Cliffside Capital (TSE:CEP) has released an update.
Cliffside Capital Ltd. experienced a significant downturn in the second quarter of 2024, with a 37.2% drop in gross finance receivables and a net loss before taxes of $1.1 million, reflecting challenging macroeconomic conditions. In a strategic move, Cliffside has entered into an agreement to become privately held through an Arrangement where shareholders will receive $0.10 per share or, for some, shares in the purchasing entity.
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