| October 2007 |
MRU reported its first profitable quarter for the fourth quarter of FY2007 (see October 1, 2007 press release for more detail)
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| October 2007 |
MRU reported that it has originated more than $100 million in loans in a single quarter for the first quarter of FY2008 (see October 1, 2007 press release for more detail)
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| July 2007 |
MRU was elevated to The NASDAQ Global Market and UNCL shares began trading on July 16, 2007. This placement provides enhanced visibility for the Company and opens the door to a new group of investors to take positions in MRU
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| June 2007 |
MRU Holdings was added to the Russell Microcap Index
MRU closed its first securitization - issuing $200 million in principal amount of asset-backed securities
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| April 2007 |
MRU placed ad in New York Times promoting preferred treatment for students - not lenders
MyRichUncle and The Princeton Review formed exclusive multi-year education financing partnership underscoring MRU's commitment to being an industry leader
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| March 2007 |
MyRichUncle introduced innovative loan product and partnered with STA Travel to provide loans to college students for study or travel abroad
MRU spoke out against improprieties in student lending on CBS Evening News program featuring the New York Attorney General's investigation of student loan industry
MRU nets incremental $5.1 million in net equity proceeds from sale of Nomura's warrants as part of Company's plan to enhance capitalization |
| February 2007 |
MRU nets $16.8 million in net equity proceeds from sale of Nomura's warrants as part of Company's plan to enhance capitalization |
| January 2007 |
MRU reinforces student advocacy position - speaks out for thorough investigation of financial aid offices and preferred lenders |
| October 2006 |
MRU Holdings listed on NASDAQ under symbol UNCL
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| August 2006 |
MyRichUncle developed "The Questions" to encourage student dialogue with financial aid officers |
| July 2006 |
MRU launched GradPLUS Federal student loans, priced below federally set maximum rate |
| June 2006 |
MRU launched Federal student loan product, creating one-stop shop for student loans |
| April 2006 |
MRU launched Preprime with investment pool of $100 million in equity committed from a group of European financial institutions
Completed $29 million PIPE equity offering with Merrill Lynch Private Equity Partners, Lehman Brothers, Battery Ventures and several senior MBNA executives |
| January 2006 |
Obtained $175 million credit facility with Merrill Lynch Bank USA for origination of private student loans -- facility is expandable to $500 million |
| Summer 2005 |
Launched MRU private loan origination platform with MyRichUncle.com and partner specific websites |
| February 2005 |
Raised $11.4 million in a PIPE equity offering transaction concurrent with obtaining $165 million credit facility with Nomura Securities for funding private student loans - facility is expandable to $300 million |
| July 2004 |
Raised $4.2 million in financing concurrent with merger into NASDAQ listed company (MHOI) |
| 2004 |
Migrated business model to focus on traditional private student loan market |
| 1999 to 2004 |
Developed background credit and origination model for deeper understanding of student repayment behavior, aggregating income and default data and analytics on students dating back to 1967. Launched original product - Education Investments in 2001 - product is in R&D to date |
