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@Restructuring__ Avatar @Restructuring__ Restructuring__

Restructuring efforts are underway in various companies, with some utilizing safe harbor regimes to avoid insolvent trading claims. Australia's safe harbor laws, introduced in 2017, have provided directors with breathing space to rescue distressed companies. Meanwhile, firms like Ares and Harbor Capital Advisors are adapting to changes in the private credit and private equity markets, with a focus on customized investing and strategic partnerships.

Engagements: XXXXXX #

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Mentions: XX #

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Followers: XXXXXX #

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Social Influence #

Social category influence finance #2647 stocks XXX% countries XXX% vc firms XXX% cryptocurrencies XXX% fashion brands XXX%

Social topic influence debt #1370, private equity #41, finance #188, investment #1596, $30bn #1, compound #36, team and #29, abc #1471, instead of 0.2%, ipo XXX%

Top accounts mentioned or mentioned by @benmbiran @tieyournumbers @cowardnutlick @highyieldharry @threadreaderapp @costcocharlie @9finhq @beehiiv @rich_toad @polymarket @hebbiaai @grok @yummycenturyegg @arbitragegod @thedealmakerguy @sfsego @factsetmaniac @umangmvarma @compounds365 @harneetk__

Top assets mentioned Lazard Ltd. Class A (LAZ) GE HealthCare Technologies Inc. Common Stock (GEHC) Core Scientific, Inc. Common Stock (CORZ) Bitcoin (BTC)

Top Social Posts #

Top posts by engagements in the last XX hours

"4) Actual leverage To calculate LTV (or leverage) we need to put side-by-side sources and uses like the table below does. This shows that LTV is XX% not 83%. This is a big deal because everyone (myself included) was highlighting how this leverage would be extremely risky and would lead to a high cost of debt. This leverage is actually very much in line with most private equity deals and I just checked on @9finHQ and YTM is much lower than 10%. Very nice"
X Link @Restructuring__ 2025-10-05T19:58Z 41.7K followers, 2848 engagements

"2) Dummy Example To numerically illustrate concepts well use ABC Co. as a hypothetical example. First imagine ABC Co. sells $100k worth of goods to a customer on sixty-day terms. Instead of waiting two months to collect ABC Co. sells the invoice to Factor Co. On the day of the sale Factor Co. advances XX% of the invoice or $85000 to ABC Co. When the customer eventually pays the full $100000 on day XX Factor Co. sends the remaining $15000 back to ABC Co. but subtracts its $3000 factoring fee. In total ABC Co. has collected $97000 with $85000 upfront and $12000 later with the $3000 difference"
X Link @Restructuring__ 2025-10-13T01:18Z 41.7K followers, 2492 engagements

"7) Exit In February 2022 Elliott and Veritas sold Athenahealth to Bain Capital and Hellman & Friedman for $17bn. Veritas and Elliott retained minority stakes alongside new co-investors GIC and Abu Dhabi Investment Authority. The $17bn price tag marked one of the largest healthcare IT buyouts ever and a dramatic vindication of Elliotts activist-turned-owner playbook. To fund the deal Bain and H&F raised a $9.3bn debt package including $6.9bn in leveraged loans priced at XXX basis points over SOFR. The structure implied a loan-to-value of XX% more conservative than the 2018 financing but still"
X Link @Restructuring__ 2025-10-09T01:38Z 41.7K followers, 2168 engagements

"If you want to learn a lot more about this topic check out my tweet below"
X Link @Restructuring__ 2025-10-12T19:17Z 41.7K followers, 8191 engagements

"Link below to access the 9fin platform"
X Link @Restructuring__ 2025-10-02T17:54Z 41.7K followers, 1770 engagements

"Thames Water Part X was a success time for Part X tomorrow In Part X we explained the 1989 privatization Ofwat's model (RCV WACC ODIs and ring fencing) and the ownership journey from RWE to Macquarie's whole business securitization. That context shows how value extraction regulatory limits and underinvestment laid the ground for today's crisis. In Part X we will get into the nuts and bolts of the ongoing restructuring. We dive deep into the company's multi-layered capital structure which reveals a key driver of distress only really found in the UK. From there we present our narrative of the"
X Link @Restructuring__ 2025-10-13T21:02Z 41.7K followers, 8150 engagements

"How does this make any sense"
X Link @Restructuring__ 2025-10-13T19:27Z 41.7K followers, 25.3K engagements

"7) Even PE work becomes just a people projects and admin job after some years"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 1435 engagements

"Let's go Jain Global CLO time baby"
X Link @Restructuring__ 2025-10-07T15:55Z 41.7K followers, 23.8K engagements

"Since launching the newsletter three years ago we have never received so many requests to cover a situation like what we are finally publishing starting today. These requests have reasons to exist; this is an evolving situation with over $30bn of debt multiple private equity buyouts political and national involvements and so much more. Here we can really say it: this is the perfect intersection of finance law economics and politics; some are calling it The Restructuring of the Decade. So without any further ado ladies and gentlemen we are so excited to bring you a three-part (true) deep dive"
X Link @Restructuring__ 2025-10-10T15:27Z 41.7K followers, 22K engagements

"List of First Brands ad hoc group largest holders Awesome data from @9finHQ (drop a link and send me a DM for full list)"
X Link @Restructuring__ 2025-10-07T19:32Z 41.7K followers, 46K engagements

"2)Actual uses The first issue is around the total uses of the transaction. We used to think that Enterprise value = uses but that is not correct. The $ needed to close the deal is much lower than the TEV because many of the items that build to TEV are not due at close and therefore do not need to be financed. So we now understand that Sycamore had to come up with $18.5bn not $23bn"
X Link @Restructuring__ 2025-10-05T19:58Z 41.7K followers, 1851 engagements

"Drivers of Total Shareholder Return If you think the S&P will keep compounding at 15%+ you are wrong and this is why: Stock returns are the sum of dividend yield and price appreciation. So why is XX% not sustainable 1) Dividend Yield has historically been between X% and X% every year (excluding 2008) 2) Price appreciation is result of (i) EPS growth and (ii) change in price to earnings (i) EPS have compounded at X% for decades do you really think you have a view that will make the entire market see a structural change in growth (ii) Change in multiple: today but starting at 22x which is"
X Link @Restructuring__ 2025-10-11T17:49Z 41.7K followers, 58.8K engagements

"Quick follow up Sycamore bought Walgreens at 7x Adj. EBITDA"
X Link @Restructuring__ 2025-10-05T00:05Z 41.7K followers, 68.4K engagements

"5) The infamous Weil email explained We have all seen the below image but what do it mean In an October X exchange between Weil and Orrick Weil acknowledged that they did not know whether First Brands had ever actually received the roughly $1.9bn in factoring proceeds. Additionally they confirmed that the segregated collection accounts contained $X. To understand why this is a red flag you must know that in a properly structured factoring program cash management and segregation are extremely important. Under normal circumstances cash should flow into segregated collection accounts. Having $0"
X Link @Restructuring__ 2025-10-13T01:18Z 41.7K followers, 6206 engagements

"2) First IPO & Initial Acquisitions Athenahealth went public in September 2007 raising $113mm priced at an initial $569mm market capitalization. The IPO was a success oversubscribed and priced above its initial range ($18 vs $14-16 range). At the time the company offered cloud-based revenue cycle management medical billing and practice management services to independent doctors a segment still heavily fragmented and underserved. In its first years as a public company Athenahealth was a growth story. Investors bought into its SaaS model and recurring revenues and the stock surged reaching a"
X Link @Restructuring__ 2025-10-09T01:38Z 41.7K followers, XXX engagements

"5) Founders management and industry operators are sometimes very underrated"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 1573 engagements

"1) HBS Roots Athenahealth began in 1997 as an ambitious Harvard Business School project from Todd Park and Jonathan Bush. The pair originally envisioned a network of maternity clinics that would offer a more humane and cost-efficient experience for patients and doctors. The model was almost too complex to execute - it depended on aligning hospitals independent practice associations insurers and state Medicaid plans. The venture struggled but in trying to build a clinic they stumbled onto a bigger opportunity. The founders had developed a software system to handle the paperwork and"
X Link @Restructuring__ 2025-10-09T01:38Z 41.7K followers, XXX engagements

"9) You need to make some mistakes to learn from them. It probably won't make a difference that you read this post"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 3044 engagements

"PREVIEW: THAMES WATER The most requested writeup in Pari Passu history is out on Friday Over $30Bn of debt in a monopoly XX million customers with nowhere else to go Multiple Private Equity buyouts The perfect intersection of finance law economics and politics Some are calling the Restructuring of the Decade The most ambitious write-up weve ever put out a Restructuring trilogy You do not want to miss this writeup sign up below"
X Link @Restructuring__ 2025-10-08T17:13Z 41.7K followers, 3779 engagements

"Great event: How to Buy a Small Business - Tomorrow Thinking about entrepreneurship through acquisition or curious about how search funds work In this (free) session youll learn the ins and outs of buying and running a business from Search Fund expert and coach Whether youre exploring search funds as a career path an investment opportunity or a way to become a CEO this event will give you practical insights and actionable takeaways on how to navigate the process of buying a business. Space is limited so RSVP below to secure your spot"
X Link @Restructuring__ 2025-10-08T18:09Z 41.7K followers, 3112 engagements

"What began as a messy activist fight in 2017 ended with one of the most profitable private equity deals of the decade. Lets learn how Elliott and Athenahealth redefined how activists can get involved with large buyouts: 1) HBS Roots 2) First IPO & Initial Acquisitions 3) Elliott Mgmt Looks Closer 4) The Bidding Process 5) The Final Deal 6) The Elliott Hold 7) Exit 8) Returns Analysis"
X Link @Restructuring__ 2025-10-09T01:38Z 41.7K followers, 3588 engagements

"8) Dont allow PE to be your main thing"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 1323 engagements

"1)Background and mistakes When Sycamore bought Walgreens and filed the 8-K everyone (myself included) did the following math. The filing shows $18.8bn of debt and $3.75bn of equity (including preferred equity) which gets to a total uses of $22.5bn which was in line with the TEV analysts were estimating which implied a XX% LTV. Wrong Now what happened this weekend Yesterday I posted a meme about the opposite way to approach large-cap PE buyouts. On one hand we have Blackstone buying a great business (Jersey Mike's) at a rich multiple and not that much value to contribute. On the other hand we"
X Link @Restructuring__ 2025-10-05T19:58Z 41.7K followers, 1934 engagements

"Guess what writeup I am working on Yes be pumped"
X Link @Restructuring__ 2025-10-04T21:20Z 41.7K followers, 5080 engagements

"3)Actual sources In addition the debt figures everyone quotes did not take into account that many of the facilities were expressing total debt capacity NOT debt funded at close. The page below shows exactly the magnitude of this mistake. Funded debt is actually just $11.3bn preferred equity is $3.25bn (vs. $1.5bn said earlier) and while the Sycamore equity was correct at $2.5bn the equity rollover and the new cash from management ($1.7bn) was not included. Alright let's bring everything together"
X Link @Restructuring__ 2025-10-05T19:58Z 41.7K followers, 1557 engagements

"Hey guys See below for a great break into IB panel It is really good covering everything from networking effectively and building a competitive profile to preparing for technical and behavioral interviews definitely check it out"
X Link @Restructuring__ 2025-10-06T13:28Z 41.7K followers, 5674 engagements

"Whos going to tell Mad Money that with 120k youre not hiring someone who understands stocks The abysmal quality of their recommendations now makes a lot of sense"
X Link @Restructuring__ 2025-10-15T17:22Z 41.7K followers, 18.5K engagements

"Bankruptcy court preview for week of X October (@9finHQ) Busy week ahead"
X Link @Restructuring__ 2025-10-06T13:24Z 41.7K followers, 3637 engagements

"So excited to see the strong reception Read it now"
X Link @Restructuring__ 2025-10-10T19:53Z 41.7K followers, 9982 engagements

"Months of Research. .Hundreds of sources. .Field research conversations with lawyers on the ground And it is finally here. I think this is one of our best writeups ever Can you guess what we are covering starting () this Friday Subscribe now next tweet Will go behind paywall soon after publication"
X Link @Restructuring__ 2025-10-05T16:50Z 41.7K followers, 19.6K engagements

"Wild Bloomberg article.wait let me get this straight: - Chad Williams founded data center company QTS in 1999 - Took it public in the 2010s - Blackstone buys in 2021 - This year "differences of opinion bubbled up between the founder and private equity firm" (lmao) - Blackstone buys his share of QTS for $X billion - Williams is launching a new data center company that will start in international markets and will then pursue US facilities starting the second half of next year Solet me clarify: he builds a business takes it public sells to Blackstone cashes out billions and then the year after"
X Link @Restructuring__ 2025-10-14T02:21Z 41.7K followers, 46.8K engagements

"The best part is XX% of my profits are from doing spreads and collecting premiums 💀💀💀 Seeing people quit their job to trade was a common thing ahead of the dot com bubble as a friendly reminder"
X Link @Restructuring__ 2025-10-05T03:35Z 41.7K followers, 6162 engagements

""10 Years. XX Hard-Earned Lessons in PE" Beautiful piece read it 1) On pursuing PE vs. other paths 2) Good work ceases to be enough once you become seasoned a web of relationships is more important 3) It's all just selling at the end of the day. Communication and charisma. 4) Dont expect fairness. Respect the powers of collateral damage. 5) Founders management and industry operators are sometimes very underrated 6) The myth of the mighty senior partner 7) Even PE work becomes just a people projects and admin job after some years. 8) Dont allow PE to be your main thing 9) You need to make some"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 35.8K engagements

"COATUE RAISING PRIVATE EQUITY FUND Earlier in the year Coatue hired Blackstone's Head of Core Private Equity Peter Wallace These past weeksI have confirmed from two separatesources that Coatue is launching a private equity firm and they are recruiting mega-fund private equity associates My thoughts 🧵 1) There are privates and privates PE is not your classic HF-backed privates 2) PE firms have HF arms HF do not have PE arms 3) Are HF the new capital aggregators 4) PE is just a better business than HF 5) Deepen LP relationship"
X Link @Restructuring__ 2025-08-12T01:11Z 41.7K followers, 58.3K engagements

"Is anyone actually that degenerate How did people get blown out by one () day"
X Link @Restructuring__ 2025-10-11T20:38Z 41.7K followers, 13.9K engagements

"The idea behind Compound is interesting I did a few consulting sessions with the team and used it myself for multiple hours and it is clear they are on the right path based on the way they are approaching the problems of using AI in finance today They are very focused on enabling users to create trusted work output with AI. In particular I really like the ability to work on Excel directly on the browser (which avoids repeated downloads and reuploads) after every prompt. I have seen how this really enables users to work side by side with AI at a higher speed and getting to the right answer. I"
X Link @Restructuring__ 2025-10-15T16:50Z 41.7K followers, 36.8K engagements

"4) The Bidding Process In May 2018 Elliott made its move. The fund submitted an all-cash takeover bid at $XXX per share valuing Athenahealth at $6.9bn - a XX% premium to its prior close. The stock jumped nearly XX% on the news. Athenahealth advised by Lazard and Weil Gotshal began a formal process. The timing could not have been worse for Jonathan Bush. Allegations of misconduct surfaced in the press and by June 2018 he had resigned as CEO. Former GE chief Jeff Immelt already chairman took over leadership of the board and the sale process. Over the summer multiple bidders circled."
X Link @Restructuring__ 2025-10-09T01:38Z 41.7K followers, XXX engagements

"We got it all wrong Sycamores Walgreens buyout leverage is XX% (not 83%) 1) Background and mistakes 2) Actual uses 3) Actual sources 4) Actual leverage 5) Final thoughts (I am sorry) Let's get to the bottom of this historic buyout 🧵"
X Link @Restructuring__ 2025-10-05T19:58Z 41.7K followers, 46.9K engagements

"6) The Elliott Hold Private ownership brought immediate changes. In December 2019 Athenahealth sold its 29-acre Arsenal Street headquarters in Watertown Massachusetts for $525.5mm through a sale-leaseback signaling a shift toward asset-light operations. Workforce reductions continued though the company also invested in integrating the Virence assets and developing new cloud-based modules. By 2022 Athenahealths turnaround was evident. Analysts noted it was now nearly as valuable as Cerner one of the two dominant U.S. hospital EHR vendors. The companys total addressable market was still"
X Link @Restructuring__ 2025-10-09T01:38Z 41.7K followers, XXX engagements

"Awesome piece by MoffettNathanson today In particular the below graphic is something everyone should understand 1) In the AI Capex cycle the majority of theinfrastructureis short-lived vs. long-lived for Telecom cycle 2)In the AI Capex cycle the costs are linear vs. high upfront and low at the margin for the Telecom cycle (making a bubble easier to form) 3)In the AI Capex cycle spending tends to be more success-based than in the Telecom cycle"
X Link @Restructuring__ 2025-10-06T21:13Z 41.7K followers, 39.3K engagements

"1) On pursuing PE vs. other paths"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 2593 engagements

"Hey guys Mercor is hiring Investment Bankers at $100-$130/hour across X roles Both are for a research project with a foundational model AI lab and tasks are what you already do on the job. These are part-time roles (1020 hours per week) Must be a full-time analyst. If interested send me a DM and I will pass you the info to apply. Best Rx"
X Link @Restructuring__ 2025-10-04T20:20Z 41.7K followers, 5849 engagements

"@MrNQDC Totally even XX% seems above what you should expect"
X Link @Restructuring__ 2025-10-11T18:05Z 41.7K followers, 1798 engagements

"4) Reasons for Factoring To understand why companies use factoring facilities well return to ABC Co. covering two primary use cases. The first and more intuitive use case is working capital management. Imagine that ABC Co. is a middle-market supplier of specialty cleaning products selling primarily into big box retail with Walmart accounting for more than XX% of its sales. Like most large retailers Walmart is able to leverage its scale and bargaining power to negotiate extended payment terms often 9060+ days leaving smaller vendors like ABC Co. waiting for months to collect cash. On the other"
X Link @Restructuring__ 2025-10-13T01:18Z 41.7K followers, 4148 engagements

"5) The Final Deal The Elliott-Veritas transaction closed in early 2019. Roughly $4.6bn in debt financed the deal giving the LBO an estimated loan-to-value of 81%. Shortly after the LBO Elliott and Veritas executed a transformative merger with GE Healthcares value-based care division that Veritas already owned. That merger was key. Just months before Veritas had acquired this GE Healthcare division including revenue cycle management and workforce management assets for $1.1bn. Veritas rebranded it as Virence Health and merged it with Athenahealth immediately after the buyout. The combination"
X Link @Restructuring__ 2025-10-09T01:38Z 41.7K followers, XXX engagements

"4/4 Source: WSO"
X Link @Restructuring__ 2025-10-12T16:11Z 41.7K followers, 4783 engagements

"If you are just looking to learn a bit more register below to a great free event where you will cover how to create a stock pitch from Point XX analyst"
X Link @Restructuring__ 2025-10-12T19:18Z 41.7K followers, 6890 engagements

"@beehiiv in your month of shipping can you add the most common format of date "March X 2024" Thank you Love the new website editor"
X Link @Restructuring__ 2025-10-14T01:31Z 41.7K followers, XXX engagements

"EQT turned Nestls forgotten skincare unit into Galderma the worlds largest pure-play dermatology company. 🚀 Through operational overhaul targeted R&D and smart use of public markets EBITDA nearly doubled + sales surged. A case study in PE vision + value creation. 👇 1) The vision of a pure-play dermatology leader 2) Operating and strategic refocus 3) Skyrocketing growth as a sponsor-backed derma pure-play 4) The IPO 5) The IPO (cont.) 6) A new anchor investor 7) Exiting Galderma 8) Unrealized returns 9) Projected return analysis 10) Its not all about financial engineering"
X Link @Restructuring__ 2025-08-17T15:25Z 41.7K followers, 21.8K engagements

"Update Sycamore x Walgreens = Closed "Walgreens Boots UK CareCentrix Shields Health Solutions and VillageMD will operate as separate and distinct companies within Sycamores portfolio" So exciting to follow the Private Equity deal of 2025 Thank you to Sycamore for making Buy fix sell cool again Mega-Funds buying B2B SaaS at 25x NTM take this Private Equity is Back Baby"
X Link @Restructuring__ 2025-08-30T03:28Z 41.7K followers, 10.3K engagements

"2) Good work ceases to be enough once you become seasoned a web of relationships is more important"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 2374 engagements

"Talen keeps riding the AI Wave Stock is up 10x since Chapter XX emergence"
X Link @Restructuring__ 2025-10-09T14:12Z 41.7K followers, 7024 engagements

"6) The myth of the mighty senior partner"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 1499 engagements

"Pari Passu Newsletter - Deep Dive I just crossed 35k followers so its a good time to re-introduce myself - Heres my story 👇👇 (and entire growth timeline) I fell in love with restructuring my freshman year I read Moyer and was hooked - I knew this was what I was meant to do After graduation I started as a restructuring and special situations analyst at PJT / Houlihan / Evercore During my time there I would get tens if not hundreds of emails from students interested in chatting. After doing a few calls I realized I was wasting time and that I should share my passion for the field in a way"
X Link @Restructuring__ 2025-07-06T18:18Z 41.7K followers, 63.5K engagements

"BURGERFI - PREVIEW Earlier this year we covered the case of Red Lobster and learned how complex elements fit together in its bankruptcy. Today we are looking at another restaurant bankruptcy BurgerFi. We will see how shifting consumer tastes from premium goods to value deals combined with high operating expenses led to the companys inability to service its debt. Through the case of BurgerFi we will also learn about restaurant-specific operating metrics and understand how they contribute to restaurants profitability. See below a small preview of the setup. Im very excited for this one - Pari"
X Link @Restructuring__ 2025-05-28T21:41Z 41.7K followers, 9711 engagements

"@darren_unruh Thank you Darren"
X Link @Restructuring__ 2025-10-12T15:36Z 41.7K followers, XXX engagements

"I firmly believe that one of the most underrated benefits of working great buyside jobs is the ability to invest in funds that are usually reserved for Institutional Investors (often with backleverage and no fees but thats a discussion for another day). The problem Getting K1s and seeing our tax filings get a lot more complicated. I have experienced this and if you have not already you will. This is why when Agent Tax reached out I was so excited to learn more and I am now excited to bring this service to you. Agent is a modern tax strategy firm purpose-built for investment professionals. You"
X Link @Restructuring__ 2025-10-14T15:24Z 41.7K followers, 44.5K engagements

"On July XX Walgreens Boots Alliance shareholders approved a $23.7bn take-private by Sycamore Partners. But you probably dont even know the biggest winner in this saga so far. Its Warburg Pincus - who quietly walked away nearly three years earlier after one of the most successful exits in its healthcare portfolio (10x+ MOIC). This is the story of how Warburg built and exited Summit Health what made the deal work and why Walgreens is still trying to make sense of it: 1) Betting on CityMD 2) Tuck-Ins and the Summit Merger 3) The Strategic Sale Process 4) VillageMD and Summit Health 5) Reality"
X Link @Restructuring__ 2025-07-24T02:18Z 41.7K followers, 43.9K engagements

"Imagine having an account called Wall St Engine and not understanding finance"
X Link @Restructuring__ 2025-10-03T21:26Z 41.7K followers, 64.3K engagements

"Single-Manager Hedge Fund (Tiger Lone Pine etc.) Transitioning to -- Multi-Manager Hedge Fund (Point XX Citadel etc.) 1) SM vs. MM A different sport 2) Different type of role & bets 3) Changed how I'd think about holding periods 4) Learnings & Conclusion 🧵1/4"
X Link @Restructuring__ 2025-10-12T16:11Z 41.7K followers, 45.8K engagements

"3) It's all just selling at the end of the day. Communication and charisma"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 1911 engagements

"4) Dont expect fairness. Respect the powers of collateral damage"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 1699 engagements

"Watch out @DanielSLoeb1 is joining the race"
X Link @Restructuring__ 2025-10-12T15:40Z 41.7K followers, 3952 engagements

"PUBLISHED I Core Scientific: From Bitcoin Miner to AI Powerhouse and the CoreWeave Deal The full piece is live. We break down Core Scientific from first principles: operating model power contracts cost stack and why mining margins whipsawed in 2021 to 2022. We map the prepetition capital structure explain the DIP swap that restored flexibility and walk class by class through plan consideration recoveries and the rights offering math. We then quantify the post-emergence pivot to AI infrastructure. Read how the shift from self-mining to long-term colocation altered cash flow visibility why"
X Link @Restructuring__ 2025-09-12T20:26Z 41.7K followers, 15.2K engagements

"$500000 is the number Once you have that much in a private equity fund you can product $7500-$10000 a month distributions That's taking into account no new investments & minimal effort Then life goes on easy mode"
X Link @Restructuring__ 2025-09-01T18:48Z 41.7K followers, 54.8K engagements

"10) Careers are often made out of nothing or everything Source: WSO"
X Link @Restructuring__ 2025-10-14T00:21Z 41.7K followers, 4296 engagements

"We have all seen the email below but what do it mean What are factoring facilities And what is going on here 1) Factoring Basics 2) Dummy Example 3) Common Factoring Structures 4) Reasons for Factoring 5) The infamous Weil email explained"
X Link @Restructuring__ 2025-10-13T01:18Z 41.7K followers, 32.7K engagements

"5)Final thoughts Firstly I would like to apologize for the bad mistake I made when commenting and quoting the XX% leverage. This is a great reminder that you and I should never take things at face value and just because an analyst/article (or blogger) says a figure we should not blindly follow. Secondly the lower leverage than initially quoted and the relatively low cost of debt is a very impressive structuring and execution from Sycamore. Finally I am excited to see how this transaction develops. This is a much more complicated situation than your classic private equity deal of the last"
X Link @Restructuring__ 2025-10-05T19:58Z 41.7K followers, 4351 engagements

"9fin x Pari Passu Newsletter Partnership Bonus GIVEAWAY 🎁 Huge news: the Pari Passu Newsletter is now officially partnering with @9finHQ I started using 9fin earlier this year and its been a complete game-changer for both my investing and my writing. The platform makes it effortless to stay on top of restructurings: within seconds I can pull up news data and in-depth analysis on any situation Im tracking. 👉 If youd like to try it out send me a DM. I can share a link for an exclusive 45-day free trial (15 days longer than the standard offer). To celebrate we are giving away First Brands"
X Link @Restructuring__ 2025-10-04T22:29Z 41.7K followers, 20K engagements

"1) Factoring Basics Factoring is a form of financing that allows companies to convert their accounts receivable into immediate cash. Traditionally when a company sells goods or services it issues an invoice to its customer which is often not paid for thirty sixty or even ninety days. Instead of waiting for the cash payment some companies opt to sell the invoice to a third party known as a factor at a discount typically around XX to XX% of the receivables face value (this discount represents the fee charged by the factor). Importantly factors often wont advance the entire cash balance upfront."
X Link @Restructuring__ 2025-10-13T01:18Z 41.7K followers, 2592 engagements

"3) Elliott Mgmt Looks Closer By 2017 the skepticism had turned into an opportunity for Elliott Management. Paul Singers hedge fund took a XXX% stake in May sending Athenahealths stock up XX% in a single day. Elliotts thesis was clear: Athenahealth was underperforming burdened by costs and failing to capture its full market opportunity. The company was a prime candidate for either a sale or a leveraged buyout. Jonathan Bush tried to resist. In October 2017 Athenahealth cut X% of its workforce closed offices and sold the company jet in a bid to show seriousness about operational discipline. At"
X Link @Restructuring__ 2025-10-09T01:38Z 41.7K followers, XXX engagements

"Brunello Cucinelli is usually described as a philosopher-saint and a man who leads his company based on his philosophy of "Humanistic Capitalism. Activist hedge fund Morpheus Research released a bomb today claiming: 1) Cucinellis Substantial Ongoing Russian Business 2) Intimate Partnership With Mercury Group in Russia 3) Third-Party Exports of Products Into Russia 4) Inventory Problems and Brand Dilution 5) Big Valuation Risk The stock is currently suspended from trade pending company statement Let's dive in 🧵"
X Link @Restructuring__ 2025-09-25T16:07Z 41.7K followers, 69.8K engagements

"3) Common Factoring Structures Although the basic idea of factoring is simple facilities can be structured in several different ways depending on the borrower's needs and the factors risk tolerance: Notification vs. Non-Notification: First a factoring arrangement can be a notification or non-notification agreement. In a notification deal the customer is explicitly informed that its invoice has been sold and is directed to pay the Factor rather than the operating entity. This makes receivable collection straightforward and reduces the risk of misdirected payments. In a non-notification deal"
X Link @Restructuring__ 2025-10-13T01:18Z 41.7K followers, 2461 engagements

"Big news in healthcare land Curious to see what spread this gets considering Hologic (Ba1/BBB) has an IG-rated $1.5bn S+100bps term loan A due 2026"
X Link @Restructuring__ 2025-10-06T00:45Z 41.7K followers, 6015 engagements