[mulch]

What if a major funding event had fallen through

Then that begs the question: did the company misrepresent its funding status? Perhaps the OP didn't ask but it sounds like he did his research. It's always good to ask these questions:

- How much locked-in funding do you have?

- How long can the company go on at the current burn rate?

- What is the current projected point where the company's revenues will grow to match expenses?

I have no idea whether the OP asked some/all of those nor whether or not the company misrepresented its funding status.