Appraisal Rights

JANUARY 15, 2021

For example, in 2017 case SWS , changes to SWS’s capital structure as the result of cancelling debt in exchange for equity were part of the “operative reality” because the exercise of the warrants and debt cancellation was a known element of value as of the Merger Date and was not conditioned or contingent on the merger.

Discounted Cash Flow 52

Discounted Cash Flow Capital Structure Appraisal Equity 52

Lighter Capital

JANUARY 11, 2022

A debt warrant is an agreement in which a lender has a right to buy equity in the future at a price established when the warrant was issued or in the next round. This high upside potential — along with high risk — is why venture debt deals often feature stock warrants as part of their “risk capital” structure. Let's dive in.

Debt Financing 52

Debt Financing Equity Finance Start-ups 52

Value Scope

AUGUST 31, 2020

Commodities, including oil and gas, are far more volatile than other asset classes like fixed-income and equities. It came out of Chapter 11 in 2017 with nearly $3 billion in new debt. The cash flows we isolate are tested for their ability to support debt, the new capital structure of the restructured firm. Conclusion.

Capital Structure 130

Capital Structure Finance Marketability Compliance 130

Andrew Stolz

APRIL 3, 2020

The buyer (the “sponsor”) raises debt and equity to acquire the target. It borrows the majority of the purchase price and contributes proportionately small equity investment. The LBO ratios can go to 90% of debt and 10% of equity. A private equity firm aims a target return of around 20 – 25% (WallStreetMojo, 2018).

Private Equity Firm 52

Private Equity Firm EBITDA Equity Finance 52

Reynolds Holding

MAY 6, 2022

6] Similarly, J.Crew’s private equity owners transferred $250 million of intellectual property into an unrestricted subsidiary, freeing up assets that they turned around and pledged as collateral to borrow even more. [7] 18] Certain features of modern-day distressed capital structures exacerbate this problem.

Private Equity Firm 56

Private Equity Firm Capital Structure Equity Marketability 56

Reynolds Holding

APRIL 28, 2022

SPACs – The Equity “Complex Product”. Investing in a SPAC IPO share is fundamentally different from investing in equity shares of publicly listed operating companies. [25] 22] See Klausner, at 21 (finding that “where redemption rates are high, public equity is often replaced by PIPE investment. ENDNOTES. [1] 14, 2021). [2]

Marketability 56

Marketability Equity Alpha Capital Structure 56

Reynolds Holding

MAY 23, 2023

5] As Healy described it, failures at funds included 1) disregard of fiduciary standards, 2) lack of regulation of investment advisers, 3) complicated capital structures, 4) inadequate accounting, and 5) lack of supervision of mergers and consolidations. [6] 21] Per Form ADV data from 2017 through December 2022. [22] 22] Ibid.

Banking 40

Banking Technology Marketability Capital Structure 40