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Paid
balance-sheet-stress
Paid
Works out how long the company survives if things go wrong: liquidity, runway at two burn rates, the maturity ladder, covenant headroom, and the price at which a raise would cost you the thesis.
This one is in the paid set. Enter your code below and the download turns on.
Reach for it when
- Anything burning cash, or levered above 3x
- Before sizing any small cap
- A drawdown over 30 percent, because a lower price changes the downside
- Needs first
- The credit agreement exhibit for real covenant levels. The footnote summary often omits them.
- Leaves behind
- Runway with dates, a coverage test per year, the binding covenant, and the dilution-or-default calculation.
- Takes about
- Forty minutes.
- Will not
- Conclude that a company will or will not raise. It reports what is due, what is available, and what has to be true.
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