The company’s 10K raised “substantial doubt” on its ability to continue as a going concern, with all factors calling back to its ability to remain in compliance with financial covenants as FY 2024 closed with cash and cash equivalents of $12.0 million against total debt outstanding of $150.7 million. DTC was in line with covenants at the year’s Dec. 31 close, but then drew an additional $277.3 million on its revolver, which matures in May ‘26. Along with its ongoing turnaround plan, Solo is looking at refinancing strategies for its existing ... Log in to view full article.