Not entirely true. An equity price in the toilet means you might have to borrow money if you need a big chunk. It also weakens your ability to use stocks to p

Not entirely true. An equity price in the toilet means you might have to borrow money if you need a big chunk. It also weakens your ability to use stocks to pay employees which in turn requires additional cash outlays. TL;DR: Companies still depend on equities as a funding mechanism.