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MRU to sell up to $250 million of equity or convertible debt
By Kenneth Lim
Boston, Sept. 8 - MRU Holdings, Inc. plans to offer up to $250 million of equity or convertible debt securities, the company announced in an 8-K filing with the Securities and Exchange Commission.
Market sources told Prospect News they had not seen price talk on Monday, and speculated that allocations could be limited given the small market capitalization of MRU.
MRU, a New York-based provider of student loans, said it will use the proceeds to finance the growth of its business, finance private student loan originations, repay outstanding bridge and other note obligations and for general purposes.
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