RE:RE:Lumberfeverlong the self-proclaimed Securities Lawyer Your numbers make no sense. Again, even if they are right, which I do not agree they are, they are still cash flow positive with $140 million in cash and undrawn revolver.
LaticelnExile wrote: Apologies, should have said they can only draw 30% ($60mil) without a
convenant being triggered.
LaticelnExile wrote: I am not responding to your post to LalliceinExcile, as that is another poster. I would suggest that as a securities lawyer you should learn how to interpret financials.
it will be very tight in the near term:
(in millions)
Expected F16 Adj EBITDA $525 ml (taken from management)
Actual F16 283
Actual Adj, EBITDA for H2 242
Est H1 F16 FCFF at 81.5% of EBITDA
Therefore the F16 FCFF will be $197
Less Expected Interest for H2 ($120)
FCFE for H2 $77
Expected Cash for Hs $222
Purchase Consideration Cinven ($210)
Less LtT Debt Payment ($ 9)
To that leaves the company with $3 mil cash remaining, which is TIGHT
The revolving loan is $200 milion but they can only draw 30% ($60mil) without a loan being triggered.
These numbers assume Donnatal is flat (which noone believes) and that they will not encounter pricing pressure. So this is an extra 3 mil for H2 if the stars are aligned.