Aug. 29 at 3:05 PM
$SIF highly levered, but have valuable assets they can monetize for additional cash, if needed. However, the base business is back to generating positive cash flow.
The sale of CBlades will inject north of
$15 million AND remove some debt that sits at CBlades.
Post sale, we could be looking at net debt below
$10 million, which could easily be refinanced, especially with the improved financial performance last quarter and record backlog levels.
They also own the Cleveland facility, which if sold in a sale leaseback would likely reduce debt to zero, assuming the CBlades deal closes.
