SpunkedonHand, you are liar The Civen payment was already made in February. After that paymentm they still have 300M in cash.
As per Lumber’s calculations, which I agree with:
If you look at cash on hand as at September 30, 2016 and cash on hand as at Dec 31, 2016, the company appears NOT to be burning cash from operations.
S 30 cash on hand: $162MM
Net Proceeds from Financing in Q4: $330MM
First Cinven Earn Out Payment in Q4: $92MM
$162 +$330-$92=$400
The company reported cash on hand as at December 31, 2016 of $398 meaning their business was pretty much cash flow neutral after paying all expenses, interest and taxes. After paying the second Cinven payment on February 1, 2017, they should still have just over $300MM in cash.