Gypsy Swap

Gypsy Swap

A swap in which the legs are common stock and restricted stock. A gypsy swap generally occurs when an investor wishes to liquidate a position in a publicly-traded company. That is, because a restricted stock may only be sold under certain circumstances, an investor holding one may exchange it for a more liquid investment.
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Northern Financial Corporation (TSX: NFC) has announced that it has closed the second tranche of its previously announced brokered private placement financing and gypsy swap by issuing an additional 364,710 units for gross proceeds of USD120,354.