Rubicon Technologies Provides Further Details On Purchase Of Yorkville Note
Portfolio Pulse from Happy Mohamed
Rubicon Technologies (NYSE:RBT) has announced the purchase of the remaining self-liquidating note from Yorkville by entities affiliated with the company's largest investors, Rodina Capital and their partners. The note has been fully converted into shares. This move is part of Rubicon's strategy to improve its liquidity position and accelerate its progress to profitability. The company has recently announced a second consecutive quarter of record Adjusted Gross Profit at approximately $18 million.
August 30, 2023 | 12:57 pm
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Rubicon Technologies has improved its liquidity position by converting a self-liquidating note into shares. This move, along with a record Adjusted Gross Profit, indicates a strong focus on profitability.
The conversion of the self-liquidating note into shares improves Rubicon's liquidity, which is a positive sign for investors. Additionally, the company's record Adjusted Gross Profit indicates a strong financial performance, which could potentially lead to a positive impact on the stock price in the short term.
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