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  "documentTitle": "Dye & Durham Limited (DND)",
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  "authorName": "Arnaud Ajdler",
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      "text": "In August 2024, the Board approved two acquisitions for a total consideration of $69 million, taking net leverage to where it was prior to the dilutive equity offering from earlier this year",
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      "text": "In August 2024, the Board approved two acquisitions for a total consideration of $69 million, taking net leverage to where it was prior to the dilutive equity offering from earlier this year",
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      "text": "We heard investors and reducing our leverage ratio is a priority for us. Our aim is to bring the business down to below 4x total net debt to adjusted EBITDA as soon as possible.",
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      "text": "We understand the importance of reducing our leverage, and we have set a clear target to reduce it below 4x total net debt to adjusted EBITDA. So, a key priority for us is get that leverage down. We have a near-term goal of below 4x.",
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      "kind": "quote",
      "text": "\"We heard investors and reducing our leverage ratio is a priority for us. Our aim is to bring the business down to below 4x total net debt to adjusted EBITDA as soon as possible.\" — Mr. Proud, Q1 2024 earnings call; \"We are committed to driving our leverage ratio below 4x net debt to adjusted EBITDA, including the converts as quickly as possible.\" — Mr. Proud, Q2 2024 earnings call; \"We understand the importance of reducing our leverage, and we have set a clear target to reduce it below 4x total net debt to adjusted EBITDA.\" — Mr. Proud, Q3 2024 earnings call",
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      "text": "Company filings, press releases. 1 Leverage includes convertible debentures and deferred considerations. Assumes acquisitions were made at 10x EBITDA, per management's commentary.",
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      "text": "Despite Shareholder Feedback that Leverage Is Too High, Management Has Pursued Additional Acquisitions and Further Increased Leverage",
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