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Cedar Grove Capital Management

Turnaround

Special Situation

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WW: The Value Unlock is in the Credit Agreement

Oct 21, 2025

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11 min read

WW: The Value Unlock is in the Credit Agreement

Why prioritizing deleveraging alone leads to unrealized equity appreciation

Paul Cerro

Cedar Grove Capital Management

Multi-strategy equity research focused on L/S, M&A Arb, and other Special Situations.

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