Here’s what happened to the G8 Education Ltd share price today

The G8 Education Ltd (ASX: GEM) share price has recovered most of its losses from earlier this morning after it emerged from an extended trading halt.

A childcare centre operator, G8 Education first entered a trading halt on Wednesday last week citing problems with receiving money promised to it by CFCG Investment Partners International. While the investor successfully completed the first tranche (reaping G8 Education $63.8 million), the group missed the second and final payment of $149 million.

It has since agreed to pay G8 Education a fraction of that amount — just $31.8 million — with G8 Education electing to raise another $100 million by way of an institutional placement of shares instead.

Source: Google Finance

Shortly after opening this morning, the G8 Education share price plunged as much as 9.6% to $3.12. However, it has since rebounded to $3.37, representing an intraday decline of just 2.3%.

Other shares that have fallen sharply today include Fortescue Metals Group Limited (ASX: FMG), down 4.9%, and St Barbara Ltd (ASX: SBM), down 6.2%.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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