JD Supra: Mergers

APRIL 23, 2024

Initial public offerings (IPOs) and M&A exits are the two most common means of achieving liquidity in a private company. This article addresses an acquisition transaction, which requires preparation and oversight that many founders and managers need to learn as they go.

Initial Public Offering 167

Initial Public Offering IPO M&A Management 167

OfficeHours

JUNE 5, 2023

Again, typically, you will be given the debt/equity split by your interviewer, but in the event that this is not the case, you should try to maximize debt at 6X EBITDA, typically split across revolver, term loan, and mezzanine debt. Focus on Cash Flow Generation Sustainable cash flow generation is the lifeblood of any LBO.

Private Equity 147

Private Equity Valuation Equities Debt 147

Focus Investment Banking

FEBRUARY 25, 2024

First, there’s the ability to raise substantial capital by issuing shares to the public in an initial public offering (IPO), as well as secondary offerings. Lastly, going public is a liquidity event for the founders and early investors, allowing them to cash in on their success.

Private Equity 52

Private Equity IPO Equities Public Trading 52

RKJ Partners

AUGUST 6, 2017

However, in exchange for this low return, significant protection is provided to the lender even in the event of bankruptcy. Potentially viable exit events include: sale of the company/issuer; recapitalization; refinancing; or an initial public offering.

Debt 40

Debt Capital Raising Capital Equities 40

Peak Frameworks

OCTOBER 30, 2023

When Facebook went public in 2012, it needed an investment bank to handle the Initial Public Offering (IPO). Marketing and Customer Acquisition To stay competitive and attract new customers, banks spend considerably on marketing, advertisements, and promotional offers.

Bank 52

Bank Banking Proprietary Trading Investment Banking 52

Cooley M&A

MARCH 22, 2023

With the US initial public offering markets continuing to remain largely closed, and special purpose acquisition company combinations being costly and complex, there’s a new kid in town for foreign companies looking to go public in the US: reverse mergers.

Mergers 52

Mergers IT Mergers and Acquisitions IPO 52

Cooley M&A

MARCH 1, 2019

Pursuing a “dual-track” process involves preparing for an initial public offering at the same time as running a private M&A process, often through an auction. The valuation of a business by public markets vs. a financial or strategic buyer can vary significantly.

IPO 52

IPO Valuation M&A Business 52