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  "docSlug": "522270211ac4",
  "documentTitle": "Sunnova Energy International Inc. (NOVA)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-09-29 00:00:00",
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      "text": "Sunnova is essentially a financial engineered platform that benefits debt holders and tax equity investors who receive all of any generated cash flows.",
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      "text": "Cash Flow Before Financing: ($739)",
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      "text": "Sunnova offers an undifferentiated business model that relies on access to capital markets to support its unprofitable underlying business. The Company generates negative operating cash flow...",
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      "text": "1) Includes Payments and customer notes receivable, Proceeds from customer notes receivable, State utility rebates, and Other. Note: Figures may not add due to rounding. Source: Company filings",
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      "text": "Continuous Need To Raise Capital",
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      "evidence": "The document highlights the risks of not selling Sunnova stock, including the potential for significant losses.",
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