Syndicate Bidders & Operational Deliverables
Adjust capital checks & operational pledges (Easements, Permits, TBM capacity, Megawatts)
WSJ Covenant Rule: Investors who fall below minimum operational deliverables suffer automatic allocation haircuts up to 40%, with freed equity re-routed to partners delivering critical-path easements or TBM fabrication slots.
Covenant Matrix & Equity Waterfall
D3.js dynamic radar topology and pro-rata haircut redistribution
Operational Delivery Radar
Post-Haircut Equity Allocation ($M)
| Investor | Requested | Covenant Score | Haircut | Final Allocation | Escrow Lockup |
|---|
Syndicate Operating Covenant Addendum (Sec. 8.4)
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STATUS: Syndicate fully modeled and verified.