Cazoo Group Ltd Says Will Need To Raise Additional Capital Before Beginning Of Second Half Of 2024 In Order To Satisfy Our Liquidity Needs Going Forward; Expect To Have Cash And Cash Equivalents In Range Of £100M-£115M On December 31, 2023
Portfolio Pulse from Benzinga Newsdesk
Cazoo Group Ltd announced in an SEC filing that it will require additional capital before the second half of 2024 to meet future liquidity needs. The company expects to have cash and cash equivalents between £100M-£115M by December 31, 2023.
December 18, 2023 | 9:10 pm
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Cazoo Group Ltd will need to raise additional funds before H2 2024, indicating potential liquidity concerns. The company forecasts having £100M-£115M in cash by the end of 2023.
The announcement of the need for additional capital could lead to concerns about the company's financial stability and may negatively impact investor sentiment in the short term. The projected cash and cash equivalents provide some insight into the company's current liquidity position, but the need for more funds suggests that the company may not be generating enough cash flow from its operations, which could be a red flag for investors.
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