A DW of any significant size (say > $50 Mill) doesn't ever take...

A DW of any significant size (say > $50 Mill) doesn't ever take this long unless its not going to eventuate. I speak with plenty of experience but would be happy to be corrected.
No lender will give them access to material money without a Chief Risk Officer in place and guess what The GOAT, Andy and friends don't remotely qualify. We are heading towards difficult times that call for experienced Credit/Risk operators. Lenders know this and are only assiting those where the experieice and track record is in place hence delays / non evenutation of DW. Best that SPX can do is a dillutionary Cap raise and use their own equity to lend which increases risk a lot more in the meantime.