Thursday, 23 November 2017

Hats off to Grind


Grind's £750k Crowdcube completes in a day and goes into overdrive.


Grind appeared on Crowdcube in 2015 with a successful £1.3m bond. Whilst the projections then have not quite come to fruition now, they have certainly made progress. And the signing this week of SSP, the transport hub specialists, to help role out their branded Coffe bars in railway stations and airports, puts them them in a good position for the next few years.

Here is hoping that this is one company we can look back on and see how it was helped by ECF and made investors some money. Still a very long to go and using a 3 month run rate to state the revenue instead of much poorer real figures, aint great. But hell, its better than most. Expect more raises along the way.

3 comments:

  1. Indeed. It feels like through this raise they are capitalising the bond as equity now, to give a better chance of being able to pay it off when it falls due.
    Even then, my reading of the forecasts assumes that 100% of the EBITDA in that year will need to be used to pay off bond holders. Could be tricky, as they have missed their forecasts to date, as you point out.

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  2. We are coming to time when a few bonds will be due and none of the recipients are in a position to pay them off without an injection of cash from outside. River City, Chilangos and Eden Project being 3 to watch.

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