Originally Posted by
43Inches
Or you could take it that PAG is happy with current progress and has deep pockets and there is more to come...
PAG haven't put up any more money for this. They have allowed Rex to draw down something like $15 million from the $75 million that remains undrawn from the 2021 $150 million convertible note facility, with Rex contributing around $9 million from 'its own cash resources'. You can possibly read something into the fact that the NJS acquisition is being 50 percent funded by a group of JV partners headed by LKH. Apart from anything else the deal seems to be structured around keeping Rex's balance sheet above water.