No question that Cyrus line is better to have as an option than not to have it.
However people seem to think the $5M they can draw is a new facility. It is not - this undrawn $5M line has been out there for a while. All that happened is that it was just amended to require new equity raised below it, and if they touch it the whole 19.5M concert repriced into 4M more shares than previously. So my point here is that Cyrus simply made an existing undrawn line of credit insanely more expensive - hence not a big show of confidence. It shows that they are likely more concerned about their loans than their equity upside.
I think it more likely than not that Overland sinks this company.
The share count is going parabolic.
Thinking that 2M or so shorts will have a tough time covering with the company printing 2M shares every couple of months is delusional, IMHO.