Whilst trying to concoct a narrative that provides shorters with...

Whilst trying to concoct a narrative that provides shorters with a guaranteed positive outcome, in order to justify their position, maybe a capital raise is the only one? They believe they are in control still, despite failing to unseat the Elliotts. El Paso thought they were in control too. You will know of that if you've been around that long. To correct your post, EWI at 38.76%, but still controlling....without a capital raise.

Chances of a capital raise before any/all project funding is completed, in order to restructure the debt and enable an orderly transition away from the current, crucial EWI et al support?? Zero imo.

The shorters are not stupid though. They must have war gamed all of this and have strategies in place (and in play?). Would love to hear what others think they may be up to/aiming/hoping for.