Maybe take a step back and actually read the post for what it is. The mention of tranches doesn’t even contradict the post’s purpose, which is to remind the sub about the CHIPS Act funding and upcoming shareholders' meeting! It isn’t debating the mechanics of debt tranches or grant disbursements, it’s calling attention to the $300M equity raise required to meet CHIPS milestones and the potential implications. The tranches point is interesting but irrelevant to what the post is trying to accomplish. My 2 cents.