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Upgrade acquires travel-focused BNPL startup Uplift for a song

TechCrunch: M&A

Uplift had raised nearly $700 million in equity and debt, securing $123 million at a reported $195 million valuation in its Series C round alone. ” Laplanche is referring to the BNPL-style product that Upgrade launched in October 2021, which lets users pay down their debt over six to 36 months with a fixed interest rate.

Finance 225
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How the Growth of Private Credit is Impacting Private Equity

OfficeHours

In particular, new guidelines from the FDIC and Federal Reserve (among other governmental agencies) made it more difficult for banks to underwrite financings that resulted in debt-to-EBITDA ratios in excess of 6.0x. This capital is released once investors buy the debt off the banks’ balance sheets.

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Why Take-Private Dealmaking Remains Attractive for PE Investors

OfficeHours

Even in 2022, when take-private deals hit a new record, they only accounted for 37% of the total value of transactions. Once the terms are agreed upon, the acquisition is financed through a combination of debt and equity from the PE firm, as with a typical transaction. investment banking, private equity , VC, etc.)

Investors 100
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10-23-2023 Newsletter: Why Take-Private Dealmaking Remains Attractive for PE Investors

OfficeHours

Even in 2022, when take-private deals hit a new record, they only accounted for 37% of the total value of transactions. Once the terms are agreed upon, the acquisition is financed through a combination of debt and equity from the PE firm , as with a typical transaction.

Investors 130
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Locking the Box in Private M&A Transactions – Myths and Facts

Cooley M&A

In the US, it is common to adjust the purchase price for cash, any excess or deficit of net working capital relative to a required level of net working capital, unpaid debt, and unpaid transaction expenses of the target business as of the closing, with an adjustment done at closing based on estimates and followed by a post-closing true-up.

M&A 59
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Reconciliation Statement

Wall Street Mojo

A reconciliation statement refers to the banking summary prepared by the banks to list down the bank’s account balances and compare the same with their internal records. read more to have parity in the books of accounts of both legal entities. It keeps accounts up to date and helps simplify accounting errors and theft.

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The Collapse of Silicon Valley Bank: The Start of Great Financial Crisis 2.0?

Mergers and Inquisitions

SVB’s deposits grew from ~$62 billion at the end of 2019 to $173 billion at the end of 2022, and its loan-to-deposit ratio went completely out of whack: Tech startups were flush with cash due to a ridiculous fundraising environment in 2020 – 2021, and they put the money they raised in the bank. to back them.

Banking 123