Brightwater Packaging Watch
Packaging manufacturer · Loan + revenue share · $18.5M deployed · Last report Oct 15
Investor
Total Thorne capital in the company.
$18.5M
$15.0M loan + $3.5M revenue-share warrant
Outstanding principal including interest added to the loan (PIK). New, added by Your Cohort
$14.2M
Includes $0.42M of added interest
Annualized return on all cash in and out, with the open position at fair value. New, added by Your Cohort
14.8%
Since March 2025
(Cash returned + fair value) ÷ capital deployed. New, added by Your Cohort
1.12x
Returned + current value ÷ invested
Revenue-share check
Company's number vs Thorne's calculation
Monthly
| September | Company says | Thorne calculates | Difference |
|---|---|---|---|
| Revenue counted | $3.70M | $4.10M | +$0.40M |
| Revenue share due (2%) | $74.0k | $82.0k | $8.0k owed |
The company left out $0.40M of tooling sales. The agreement counts all gross revenue.
Payments received
| Date | Expected | Received | Status |
|---|---|---|---|
| Oct 15 | $120k | $120k | Paid |
| Sep 15 | $95k | $95k | Paid |
| Aug 15 | $110k | $82k | Short $28k · caught up Aug 22 |
Coming up
- Cash sweepNov 15~$105k
- Quarterly cash interestDec 31$0.32M
- Interest added to the loan (PIK)Accrues monthly$0.42M so far
New marks a measure Your Cohort adds to Thorne’s reporting · fictional companies and figures · thresholds are placeholders · select or hover any dotted label for its definition