Leveraged Buyout

7th-level Finance & Cost-Cutting

Casting Time: 1 action to close, though the debt structure is arranged over 2 to 6 months beforehand
Range/Area: Unlimited; one organization, publicly or privately held
Components: V, S, M (a debt financing package, secured against the target’s own assets and future cash flow rather than the caster’s; a minority equity check, consumed)
Duration: Until the debt is repaid or the target defaults
Classes: Private Equity Partner, Fund Manager, CFO

You acquire the target using capital borrowed against its own balance sheet rather than your own. Ownership transfers to you immediately, as with Hostile Takeover, but no Solvency saving throw is required at the time of casting. Instead, for the duration, the target’s Runway depletes at an increased rate equal to 10 points per turn beyond its ordinary depletion, representing debt service. If the target’s Runway reaches 0 while this spell remains active, it becomes Insolvent as normal — but the debt was secured against the target’s own assets, not yours, and you bear no liability for the shortfall.

At Higher Levels. When cast using a spell slot of 8th level or higher, you may refinance the existing debt for more than is currently owed, extracting the difference to yourself as a Windfall and further increasing the per-turn depletion rate by 10 (a Dividend Recapitalization).

Flavor: “We see significant opportunity to unlock value through operational improvements and disciplined capital allocation.” — deal announcement, six months before the first round of layoffs funded the first debt payment