Senior management invests $11.2MM in Element securities
U.S. – Members of the Element Financial senior management team and board of directors purchased approximately $11.2 million worth of Element securities in connection with the company’s recently completed $1.42 billion offering of subscription receipts, debentures, and preferred shares.
“The entire senior management team and all of the members of our board participated in this offering with demand from this group exceeding the available allocation,” says Steven K. Hudson, Element’s chairman and CEO. “A personal financial commitment of this scale from those of us who are closest to the inner workings of this company is supported by the stronger-than-forecast origination growth that we are seeing across each of our four verticals.”
All security purchases referenced above were funded by the personal resources of the individual investor and were not supported by loans from the company.