The filing mentions multiple times that the planned Orlando-Tampa expansion and in Las Vegas both will be costly. The Orlando-Tampa expansion, according to the filing, will be funded through the net proceeds from the Virgin partnership, the concurrent private placement and/or future debt or equity financings.
The Orlando-Tampa expansion is expected to cost $1.7 billion, according to the filing. Brightline is roughly $625 million in debt and that figure is expected to increase substantially with the construction of the Orlando-Tampa expansion and others in the works, according to the filing.
“Our ability to expand, including the Tampa expansion and the Vegas expansion, is dependent on our ability to raise funds through various potential sources, including equity and/or debt financing. We will need substantial additional funds to meet our expansion plans, including construction of the Tampa expansion and the Vegas expansion, and we have not yet secured such funds,” according to the filing.