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Death Spiral Finance. What Can Possibly Go Wrong?

By Lucian Miers | Sunday 12 February 2023

Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Providers of loans to small cash- strapped publicly listed companies, (usually, but not always AIM) which are convertible into equity linked to the average prevailing share price (VWAP) tend to get a bad rap in the same way that the loan shark or the “usurer” gets a bad rap. The type of finance which they purvey is known as “death spiral” which says it all. They normally have websites which provide the bare minimum of detail and describe themselves as “investors” or “growth facilitators” or some sort of misleading handle.
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