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Recovery Equity Investors L P

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BUSINESS
May 28, 1991 | JOHN MEDEARIS, TIMES STAFF WRITER
Under pressure to raise cash for shoring up its Foothill Thrift & Loan subsidiary, Foothill Group Inc. needed to find some deep pockets to fund the infusion. Now, Foothill could end up with both the deep pockets and the people wearing them. Foothill, whose two main units specialize in making loans to new or troubled companies, said that if regulators approve a tentative deal to sell $3 million of convertible preferred stock to Recovery Equity Investors L.P.
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BUSINESS
May 28, 1991 | JOHN MEDEARIS, TIMES STAFF WRITER
Under pressure to raise cash for shoring up its Foothill Thrift & Loan subsidiary, Foothill Group Inc. needed to find some deep pockets to fund the infusion. Now, Foothill could end up with both the deep pockets and the people wearing them. Foothill, whose two main units specialize in making loans to new or troubled companies, said that if regulators approve a tentative deal to sell $3 million of convertible preferred stock to Recovery Equity Investors L.P.
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BUSINESS
May 21, 1991
Foothill Group Inc., a financial services company with headquarters in Agoura Hills and Los Angeles, said it agreed to sell 100,000 shares of convertible preferred stock to Recovery Equity Investors L.P. for $3 million. Foothill also said it would increase its board of directors to eight members in order to add two representatives of Recovery Equity, a Delaware limited partnership. The deal came as the Foothill Group was negotiating with the Federal Deposit Insurance Corp.
BUSINESS
May 21, 1991
Foothill Group Inc., a financial services company with headquarters in Agoura Hills and Los Angeles, said it agreed to sell 100,000 shares of convertible preferred stock to Recovery Equity Investors L.P. for $3 million. Foothill also said it would increase its board of directors to eight members in order to add two representatives of Recovery Equity, a Delaware limited partnership. The deal came as the Foothill Group was negotiating with the Federal Deposit Insurance Corp.
BUSINESS
July 2, 1991
Foothill Group Inc. said it completed the previously announced sale of convertible preferred stock to an investment partnership for $3 million, which the company has invested in its Foothill Thrift & Loan subsidiary. The investor group, Recovery Equity Investors L.P., purchased 100,000 convertible preferred shares that can be converted to about 6% of Foothill Group's common stock.
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