Blockchain payments firm Ripple is selling roughly one-third of its stake in MoneyGram, in its first such sale of company stock since the startup invested in the remittance giant in 2019.
According to a U.S. Securities and Exchange Commission filing on Friday, Ripple owns 6.22 million shares of MoneyGram, or 8.6% of shares outstanding, plus a warrant to buy up to another 5.95 million shares, for a total equity position of 12.2 million shares, or 17% of MoneyGram’s shares outstanding.
Ripple is now selling up to 4 million shares, or approximately 33.3% of its entire stake, if you count the shares represented by the warrant. After the sale, Ripple will still own at least 3.22 million shares, or 4.44% of MoneyGram. When including the additional shares represented by the warrant, which gives Ripple the right to execute a stock buy at a predetermined price, the blockchain payments firm will still own about 11% of MoneyGram.
Under the terms of Ripple’s initial investment announce in…
