We will be publishing the Pitch List regularly to identify topical credits that may be targets for liability management exercises and/or turnaround efforts in the future, and that are for the most part not yet deeply distressed.

The list includes both public and private issuers that may be subject to a number of actionable triggers, including earnings pressure, elevated leverage, an unsustainable capital structure, a potential covenant breach, liquidity need, failed M&A, operational turnaround, or upcoming maturities.

The list will be monitored and updated with relevant commentary regarding corporate actions, earnings results, secondary trading levels, and 9fin intelligence. For each issuer, we will include its relevant ticker or symbol, its current enterprise value, debt, EBITDA, net leverage, potential triggers, a business description and the next catalyst date.

The following new names have been added:

• Newfold Digital
• New Fortress Energy
• Tropicana/Naked Juice

The following old names have been removed:

• MultiPlan — A poor Q2 24 triggered a steep fall in MultiPlan’s debt and stock last week, and the company hired advisors and its creditors organized and signed a co-op. MultiPlan will be a part of the distressed and restructuring team’s regular coverage going forward.

Remaining names include:

• Anywhere Real Estate
• Bowlero
• Embecta
• Forward Air
• Leslie’s
• Paramount
• Skillsoft
• Uniti Group
• Viasat