Ripple Set to Sell Part of MoneyGram Stake

According to a filing submitted to the U.S. Securities and Exchange Commission (SEC), Ripple has authorized an unnamed financial institution to sell up to 4 million shares of MoneyGram on its behalf by March 31, 2020. It is worthy of note that after the sale, Ripple would still officially own 2.3 shares of MoneyGram and a warrant that would give it the right to purchase extra 5.9 million shares.

In June 2019, when Ripple bought the MoneyGram shares, they were trading at $4.10 apiece compared to about $7.45, their current market price. In a statement issued to The Block, the spokesperson said: As previously reported by BTCManager, Ripple completed its $50 million equity investment in MoneyGram in November last year.

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