Cyxtera Technologies Inc (fka CYXTQ)

[TenKay]

That number is somewhat misleading. It is strictly a balance sheet value.

Once you strip out the goodwill, intangibles, etc. that value drops to $2 Billion in physical assets.

Now…over $1.6 Billion of that is the “property and equipment” classification.

Here is where it gets interesting - what would the value of that be in a sale of those assets?

In a bankruptcy situation it would be at a significant discount to the balance sheet value.

Likely pennies on the dollar.

And right now the DIP owns ALL of it for $200 million.