Debt portability provides a lifeline for M&A
JD Supra: Mergers
AUGUST 29, 2024
By: White & Case LLP
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Distressed Debt Hedge Funds: How to Become a Vulture Capitalist
Mergers and Inquisitions
SEPTEMBER 13, 2023
Ask anyone interested in distressed debt hedge funds for “the pitch,” and they’ll probably mention one of the following: “It’s like long/short equity or credit , but more interesting!” Distressed debt investing offers advantages over other hedge fund strategies , but the marketing often oversells the benefits.
Debt 
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Disclosure Schedules: What Are They and How Do They Fit into My Deal?
JD Supra: Mergers
MAY 22, 2024
Whether, as part of the management of your startup, you are tasked with driving an equity or debt financing to closing or with gearing up for an exit event, disclosure schedules will be one of the many documents that you will negotiate and deliver as part of your deal.
Debt 171
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Collateralized Debt Obligation (CDO)
Wall Street Mojo
JANUARY 15, 2024
What is a Collateralized Debt Obligation? Table of contents What is a Collateralized Debt Obligation? How does Collateralized Debt Obligation (CDO) Work? CDOs provide investors with a diversified portfolio of debt instruments across different risk levels.
Debt 52
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Periculum Completes Senior Debt Placement for Morgan Foods, Inc.
Periculum Capital
MARCH 12, 2022
Periculum Capital Company, LLC (“Periculum”) is pleased to announce it has completed a senior debt placement for Morgan Foods, Inc. The debt placement, structured as a working capital revolver and term loan, allowed the Company to refinance its existing debt and fund future growth. Morgan” or the “Company”).
Debt 52
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Pandemic-Related Deal Litigation Highlights Buyer Leverage in Transactions Requiring Debt Financing
Cooley M&A
SEPTEMBER 25, 2020
The decisions from the court on those preliminary matters, as well as the arguments raised by legal counsel, offer some valuable lessons for sellers considering sale transactions that require debt financing, and may motivate sellers to re-evaluate certain provisions and remedies that have become customary in those transactions.
Debt 40
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Guide to Buying into a Business as a Partner
Lake Country Advisors
OCTOBER 31, 2024
General Partnerships In a general partnership, all partners are responsible for managing the business and are equally liable for debts and legal obligations. Work with legal and financial experts to ensure all terms are clearly documented, protecting your interests. Transparent communication is essential to establishing trust.
Business 52
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Enterprise value vs Equity value
Presser & Co
MAY 22, 2023
Put simply, enterprise value = equity value + debt – cash. As a result, you can have two identical companies that have the same enterprise value, but may not have the same equity value, because of the existence of debt or excess cash on either of their respective balances sheets.
Equities 52
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Can a sole trader employ staff?
Growth Business
MAY 15, 2024
As a UK business (even as a sole trader), it’s vital to keep in mind the documents any prospective employee will need. More on sole traders Sole trade budgeting tips to avoid debt How to scale your business quickly The post Can a sole trader employ staff? And, if somebody else books their time, you could be left high and dry.
Business 96
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Delaware Court Of Chancery Dismisses Derivative Claims Challenging A Convertible Debt Issuance At The Onset Of The COVID-19 Pandemic For Failure To Plead That Demand Was Excused
Shearman & Sterling
DECEMBER 8, 2021
" Although the Court acknowledged that the transaction was not a "model of best practices," it found that the complaint and the documents incorporated by reference therein did not support an inference of bad faith.
Debt 52
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A Complete Technology Due Diligence Checklist.
Beyond M&A
OCTOBER 22, 2024
Code Quality and Technical Debt Good code should be clean and scalable. But if there’s technical debt—code that’s been written in a way that will require significant refactoring later—you’ll need to factor that into your decision-making. Look for: How clean and well-documented is the codebase? What’s the testing process like?
M&A 130
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How To Sell Your Business with a PPP Loan
Sun Acquisitions
NOVEMBER 7, 2022
The long and short is yes, it’s possible, however, there’s a series of considerations from the Small Business Administration (SBA), the holder of your PPP loan debt that you need to comply with. You want to be free of this debt as soon as possible. Perhaps you’ve asked, “Can I sell my business if I got a PPP loan?”.
Business 98
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M&A Blog #13 – sell-side acquisition (execution)
Francine Way
JULY 9, 2017
The document serve to keep the discussions confidential between parties, limit distribution to those who need to know within the buyer’s organizations, and protect sensitive information contained in the CIM (offering memorandum) from being distributed outside the company.
M&A 130
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Preparing Your Business for Potential Buyers in Mergers and Acquisitions
Sun Acquisitions
APRIL 17, 2024
Organize Financial Documents Buyers will scrutinize your financial records, so ensure that your financial documents are in impeccable order. Ensure you have streamlined processes, strong management teams, and documented procedures. Make sure all your IP is adequately protected and you have documentation to prove your ownership.
10 Concepts You and I Can Learn About Buying Businesses in the UK From How2Exit's Interview With John Andrews - London Attorney
How2Exit
MARCH 21, 2023
This process involves researching the business’s financials, legal documents, and other relevant information. Another important part of due diligence is researching the legal documents associated with the business. This includes contracts, leases, and other documents that are relevant to the business.
Business 130
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Understanding the Anatomy of a Term Sheet in Investment Banking
Wizenius
MAY 4, 2023
In investment banking, a term sheet is a non-binding document that outlines the basic terms and conditions of an investment or financing deal between two parties. It's important to note that a term sheet is not a legally binding document, but rather a summary of the key terms and conditions of the proposed investment or financing deal.
The Differences Between a Debit Note and a Credit Note
Razorpay
NOVEMBER 19, 2024
Both documents play significant roles in accounting but serve different purposes and are used in different scenarios. Differences Between Debit Notes and Credit Notes Comparison Factor Debit Note Credit Note Definition A document issued by the buyer to the seller indicates a return of goods or a request for a reduced amount payable.
Accountant 40
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Preparing Your Business for Potential Buyers in Mergers and Acquisitions
Sun Acquisitions
APRIL 10, 2024
Organize Financial Documents Buyers will scrutinize your financial records, so ensure that your financial documents are in impeccable order. Ensure you have streamlined processes, strong management teams, and documented procedures. Make sure all your IP is adequately protected and you have documentation to prove your ownership.
Deutsche Bank completes acquisition of Numis
The TRADE
OCTOBER 13, 2023
The transaction – first reported on back in April – was previously valued at £410 million according to documents seen by The TRADE. The transaction is the next step in Deutsche Bank’s Global Hausbank strategy, which aims to unlock deeper engagement with corporates in the UK.
Bank 59
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Preparing Your Business for Potential Buyers in Mergers and Acquisitions
Sun Acquisitions
APRIL 24, 2024
Organize Financial Documents Buyers will scrutinize your financial records, so ensure that your financial documents are in impeccable order. Ensure you have streamlined processes, strong management teams, and documented procedures. Make sure all your IP is adequately protected and you have documentation to prove your ownership.
9 Things We Learned About the Legal Side Of Acquiring Businesses From Interviewing Joel Ankney - Attorney and Author in the SMB M&A and Commercial Real Estate
How2Exit
MARCH 1, 2023
In addition to understanding the process and managing the professionals, it is important to have an attorney review the documents before they are sent out. Having an attorney review, the documents can also save time and money in the long run. This will help catch any potential issues that may arise.
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Accrued Interest Formula
Wall Street Mojo
JANUARY 4, 2024
read more is that amount of interest, which is due for a debt or bond but not paid to the lender of the bond. Companies do not wait to receive receipt of cash Receipt Of Cash A cash receipt is a small document that works as evidence that the amount of cash received during a transaction involves transferring cash or cash equivalent.
Accountant 98
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Creating an M&A Playbook with ChatGPT as Your Consultant
Midaxo
APRIL 25, 2023
What would be good an outline for a document defining our M&A objectives? Q3: What would be good an outline for a document defining our M&A objectives? Conclusion — Summarize the main points of the document and reiterate the importance of clear M&A objectives in achieving your company’s strategic goals.
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Delaware Court Of Chancery Dismisses Derivative Claims Challenging A Convertible Debt Issuance At The Onset Of The COVID-19 Pandemic For Failure To Plead That Demand Was Excused
Shearman & Sterling
DECEMBER 8, 2021
" Although the Court acknowledged that the transaction was not a "model of best practices," it found that the complaint and the documents incorporated by reference therein did not support an inference of bad faith.
Debt 40
40 
Comprehensive Guide to M&A Due Diligence in Today’s Turbulent Economic Environment
Devensoft
JUNE 1, 2023
Debt and liabilities: assess the company’s debt levels and liabilities to determine whether it can manage its obligations during economic uncertainty. What is the target company’s current debt position, and what is their plan for managing any potential financial risks that may arise due to the economic uncertainty?
Economics 98
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What are Meeting Minutes? How to Take Good Minutes
Peak Frameworks
OCTOBER 17, 2023
For example, in 2010, during the European debt crisis, many critical meetings among EU leaders were held. The minutes of these meetings not only highlighted the gravity of the situation but also documented the multiple avenues explored before arriving at decisions. Documentation Jot down details in a structured format.
Finance 52
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Convertible Securities
Wall Street Mojo
JANUARY 17, 2024
Convertible securities combine features of both debt and equity instruments. For issuers, they offer a cost-effective method to raise capital, often with lower interest rates than traditional debt. read more have features of equity as well as debt. #2 Convertible securities provide advantages to both issuers and investors.
Securities 98
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Importance of Due Diligence and Tips to Do it Right Before Your Business Sale
Lake Country Advisors
JUNE 20, 2024
Here are some of its examples: Outstanding debts and obligations. Gathering and Organizing Essential Documents Next, gathering and organizing essential documents is critical. Systematically organizing these documents speeds up the due diligence process and demonstrates professionalism. Outstanding debts and obligations.
Sale 52
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How do I value a software company with recurring revenue?
iMerge Advisors
APRIL 9, 2025
Some common missteps include: Ignoring customer concentration or churn issues Overlooking deferred revenue or technical debt Assuming all revenue is equally valuable (e.g., Common Valuation Pitfalls to Avoid Founders often overestimate value by focusing solely on revenue or product innovation, while underestimating risk factors.
Valuation 40
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Navigating M&A Financing: A Guide for Mid-Sized Businesses
Sun Acquisitions
OCTOBER 21, 2024
Additionally, the application process can be lengthy and rigorous, requiring detailed financial documentation and due diligence. Mezzanine Financing: Mezzanine financing offers a hybrid form of debt and equity financing that can be used to fund M&A transactions.
M&A 59
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Invoice and Receipt: Differences, Format and Importance
Razorpay
AUGUST 9, 2024
An invoice is a document issued by a seller to request payment for goods or services provided, while a receipt is given to confirm payment. Invoices outline what is owed, whereas receipts verify that the debt has been settled. A receipt is a crucial document issued by a business to verify a completed transaction.
Business 40
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Credit Sales: Definition, Mechanics, and Benefits to Buyer/Seller
Peak Frameworks
MAY 2, 2024
Documentation: Accurate and comprehensive documentation, including invoices and contracts, underpins the legal and financial integrity of credit sales. Bad Debt Management: Estimating the likelihood of non-payment and accounting for bad debts is crucial for providing a realistic view of financial health.
Sale 52
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Should I Sell My Insurance Agency?
Sica Fletcher
MAY 8, 2024
Other times, they are hoping to use their share of the sale to alleviate personal debt. What Documents Do I Need? Once you get into the valuation stage (which is usually done by your M&A advisor or a 3rd party valuation agency), you will need a large swath of documentation. Manageable Debt. A Growth in Owner Equity.
Insurance 52
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12 Concepts We Can Learn About M&A Deals and Attorneys From How2Exit's Interview Mathew Saur
How2Exit
MAY 15, 2023
I also wanted to outsource the labor-intensive pieces of the job, such as the diligence and documentation work. Concept 4: Leverage Debt For Multiple Expansion Leveraging debt for multiple expansion is a strategy used by private equity firms to increase their value and profitability.
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The Growth Equity Case Study: Real-Life Example and Tutorial
Mergers and Inquisitions
JANUARY 24, 2024
minutiae about issues like OID for debt issuances ) and did not accurately represent a 1- or 2-hour case study. For reference, the case document said to expect profitability by the end of the 5 years. multiple with mid-teens IRRs: This isn’t a great result, but it’s still above the minimum targets in the case document.
Equities 105
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Schemes of Arrangement: Dodgy Plots or Effective Ways to Purchase UK Companies?
Cooley M&A
APRIL 26, 2022
In the acquisition of a private company, a scheme can offer a solution that avoids requiring 100% of shareholders to sign deal documentation when the target’s governing documents don’t include drag-along provisions (and it’s not possible or deemed too risky to introduce such provisions prior to the deal taking place).
Debit Note: What it is, Example, Template and How Does It Work?
Razorpay
OCTOBER 8, 2024
A commercial document called a debit note is used in business transactions to alert buyers about impending invoices or present financial obligations. It is a formal statement outlining the debt’s size and reason from the seller to the buyer. What is a Debit Note? How Does a Debit Note Work?
IT 40
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LLP: All You Need To Know About Limited Liability Partnership
Razorpay
MAY 11, 2023
This means that the personal assets of the partners are protected from any business debts or legal liabilities incurred by the LLP. All partners enter into a partnership deed which is the charter document of a partnership firm. Basically, an unsettled debt. The Partnership is governed by the Partnership Act of 1932.
Accountant 52
52 
Structuring a Project Finance Deal for Renewable Energy in a Country with Uncertain Regulations
Wizenius
JUNE 21, 2023
Debt Financing: Explore options for debt financing, such as loans from local or international banks, multilateral development banks, or export credit agencies. Tailor the terms of the debt to reflect the risks associated with regulatory uncertainties, such as higher interest rates or shorter tenors.
Finance 52
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Exit Planning Through an Investment Banker’s Lens
Focus Investment Banking
MARCH 10, 2025
Pass on domain knowledge to team members or document it. Optimize Working Capital (One Year Ahead) What It Is: Net Working Capital (NWC) is Current assets minus current liabilities (A/R + Inventory A/P + Accrued Expenses), excluding cash, which you keep (in a typical cash-free, debt-free transaction).
Investment 52
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Corporate Accounting: Meaning, Importance & Explanation
Razorpay
JULY 25, 2023
It is a process of documenting expenses, incomes, sales and purchases over a specific time period. Further, instances of bad debts and defaulters are managed by a corporate accountant. What is Corporate Accounting? Corporate accounting refers to the process of recording a company’s financial transactions.
Accountant 98
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Grenke's audit statement
Bronte Capital
MAY 21, 2021
In response to the risk of material misstatement in financial reporting due to violations, we also reviewed the appropriateness of the debt collection process at the parent company level. In addition, we conducted a test of operating effectiveness at the level of the Parent Company.
FOCUS Investment Banking Represents The LABRADOR Group in its acquisition of Argyle
Focus Investment Banking
JUNE 8, 2023
The group has been assisting listed companies in communicating and developing financial and non-financial documents (URD, ESEF, DPEF, CSR, climate reports, etc.) The transaction is entirely financed by debt with a banking group arranged by BNP-Paribas and Société Générale* for a total amount of 23 million. for 30 years.
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