RE:RE:RE:RE:Upsizing of Initial Public Offering to $150 MillionI was hoping they'd retire that with the Pioneer proceeds. Given the escalating rate on that loan it's the most sensible use of the proceeds.
that's $7m in additional DCF just from $100M of those proceeds. Add in another $80M of credit line repayment and it goes a long way towards recouping the lost EBITDA of the ~30% of LCFS sold to others. Really creating money out of nowhere here.
The projection of $150M runrate EBITDA for LCFS once the diesel project is complete is compelling on a spreadsheet. But it will take a dividend or selling more shares for that cash to flow to TWM. Maybe we get a pop on FID announcement.