Chris Mercer

MARCH 29, 2024

To give the answer away: Pre-IPO discounts/studies cannot be used to estimate DLOMs in any credible, standards-compliant manner. What is a Pre-IPO Discount? Exhibit 8.21 (Mercer-Harms Business Valuation: An Integrated Theory Third Edition ) (“IT3”) illustrates how pre-IPO discounts are calculated.

Marketability 52

Marketability Appraisal Business Valuation Dividends 52

Law 360 M&A

MAY 8, 2024

on Wednesday priced a $215 million initial public offering within its range, represented by Mayer Brown LLP and underwriters' counsel Latham & Watkins LLP, in an IPO that will help the specialized freight company combine five logistics businesses into one publicly traded entity. Proficient Auto Logistics Inc.

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Law 360 M&A

MAY 2, 2024

Coca-Cola is preparing an IPO for its African bottling division, cereals giant General Mills is exploring selling its North America yogurt business, and a 5% stake in the San Francisco Giants is up for sale at a price that could value the club at $4 billion.

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Harvard Corporate Governance

OCTOBER 21, 2022

Remark by Commissioner Uyeda to the Small Business Capital Formation Advisory Committee. IPO Readiness: IPO Equity Awards. Tags: Equity offerings , Incentives , Inflation , IPO framework , IPOs , Shareholder value , Stock options. Posted by Subodh Mishra, Institutional Shareholder Services, Inc., Posted by Mark T.

Capital Structure 203

Capital Structure Equity Compliance Banking 203

Reynolds Holding

NOVEMBER 1, 2023

Initial public offerings (IPOs) play a vital role in facilitating capital formation and wealth distribution within an economy. IPOs over the past 25 years have raised concerns among entrepreneurs, investors, and policymakers. IPOs and shed light on the increased importance of economies of scale and scope in a more globalized economy.

Marketability 52

Marketability Equity 52

Harvard Corporate Governance

MARCH 18, 2024

Summary Founders and controlling stockholders often seek to retain control over their companies even after taking them public, typically via high-vote share classes or, as was at issue in this case, via stockholder agreements granting the pre-IPO owners broad governance rights. In West Palm Beach Firefighters’ Pension Fund v.

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Law 360 M&A

FEBRUARY 21, 2023

Atmus Filtration Technologies Inc., a unit being spun out of engine manufacturer Cummins Inc., on Tuesday filed plans for an initial public offering, represented by Baker & McKenzie LLP and underwriters counsel Simpson Thacher & Bartlett LLP.

Technology 40

Technology 40

Harvard Corporate Governance

FEBRUARY 24, 2023

Ritter (University of Florida), and Donghang Zhang (University of South Carolina), on Monday, February 20, 2023 Tags: EGCs , IPO , JOBS , SEC , SPAC , VC Funds Retail Financial Innovation and Stock Market Dynamics: The Case of Target Date Funds Posted by Jonathan A. Erickson (University of Richmond), Adam C.

Marketability 189

Marketability 189

Harvard Corporate Governance

SEPTEMBER 6, 2022

Carve-out deals, whether conducted through a trade sale, buyout, or IPO, have become a vital tool for businesses to boost balance sheets and deliver shareholder value. Strategic reorganization has become crucial for companies needing to shed carbon-intensive assets and refocus business goals.

Equity 255

Equity 255

Harvard Corporate Governance

AUGUST 10, 2023

Restructuring prior to listing The business and corporate structure of a company’s operating group is an important issue to consider at the onset. There may also be foreign ownership restrictions that impact on the pre-IPO restructuring plans and legal advice should be taken at an early stage.

Marketability 188

Marketability Compliance 188

Harvard Corporate Governance

NOVEMBER 28, 2022

As a result, they are more likely to capture the economies of scale that make their business model valuable. Unicorns have reached a size that is much larger than the size of the typical IPO firm. With this capital, they can invest more in organizational intangible assets with less expropriation risk than if they were public.

Intangible Assets 240

Intangible Assets Finance Marketability 240

Benchmark Report

MAY 9, 2022

A SPAC (Special Purpose Acquisition Company) is a company with no business operations that is formed solely to raise capital through an IPO to purchase another existing company. Formerly, they were often seen as a last resort for businesses that couldn’t raise money on open markets.

Marketability 98

Marketability 98

Harvard Corporate Governance

NOVEMBER 28, 2022

As market volatility stifles IPO activity, alternative sources of capital (including from PE) become more appealing. Navigating this rapidly-evolving market presents a challenge for any business leader. This flows through inflationary, and borrowing rate pressure, real wage challenges, consumer spending variability, and other factors.

Marketability 301

Marketability Equity 301

Harvard Corporate Governance

MARCH 5, 2024

1] The Final Rules largely codify the substance of the rules proposed by the SEC on March 30, 2022 (“Proposed Rules”), which were intended to enhance investor protections in SPAC initial public offerings (“IPOs”) and initial business combinations (“De-SPACs”). [2] 2] We previously summarized the Proposed Rules, available here. [3]

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Harvard Corporate Governance

APRIL 29, 2022

SEC Rules Would Make SPAC Process More Burdensome than Traditional IPOs. How Would Directors Make Business Decisions Under a Stakeholder Model? Tags: IPOs , Mergers & acquisitions , PSLRA , SEC , Securities litigation , SPACs. Liability for Non-Disclosure in Equity Financing. Posted by Albert H. Posted by David A.

Equity Financing 194

Equity Financing Equity Compliance Technology 194

Law 360 M&A

FEBRUARY 6, 2024

million verdict Monday in favor of investors alleging AI-imaging software company ArcSoft and its billionaire CEO duped them into selling their shares for less than they were worth by hiding information about the business's success, its move to China and its eventual IPO. A California federal jury returned a $14.1

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Auto Dealer Valuation Insights

FEBRUARY 28, 2023

Among the boomerang IPOs mentioned in the article was that of backyard grill maker Weber. With the advent of grilling season, we were curious about Weber’s experience in the public markets and any lessons that family business directors.

Marketability 98

Marketability Capital Structure 98

IVSC

APRIL 26, 2024

The sessions include: Global Trends Shaping Today’s Economy (13 June, 14:00 BST): This webinar explores key macroeconomic trends and their impact on business and investment, such as technology, climate change, and global finance, providing context for the upcoming valuation-focused discussions.

Banking 130

Banking Finance Risk-free Rate Technology 130

Auto Dealer Valuation Insights

NOVEMBER 18, 2022

wealth management business and Canadian asset management business through an IPO of its U.S. wealth management business. CI’s CEO Kurt MacAlpine reported continued progress toward the IPO and announced an anticipated S-1 filing later this month. wealth management business will.

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Reynolds Holding

JANUARY 24, 2024

I am pleased to support these final rules because they will better align the protections investors receive when investing in SPACs with those provided to them when investing in traditional IPOs. First is when a blank-check company raises money from the public through an IPO, what I call the SPAC blank-check IPO.

Corporate Finance 45

Corporate Finance Marketability Finance 45

Benzinga

DECEMBER 28, 2023

One of the hottest investment topics of 2024 is likely to be whether Elon Musk ‘s SpaceX will spin off its Starlink satellite launch services business — an initial public offering (IPO) that would likely garner massive support.

Marketability 59

Marketability Equity 59

Harvard Corporate Governance

APRIL 13, 2023

Tröger is Professor of Private Law, Commercial and Business Law, Jurisprudence at Goethe-University, and Director of the Cluster Law and Finance at the Leibniz Institute for Financial Research Sustainable Architecture for Finance in Europe. Gözlügöl is an Advanced Researcher of the Cluster Law and Finance, Julian Greth is a Ph.D.

Corporate Finance 239

Corporate Finance Marketability Finance 239

Harvard Corporate Governance

NOVEMBER 3, 2023

Posted by Alyssa Stankiewicz and Lindsey Stewart, Morningstar, Inc, on Monday, October 30, 2023 Tags: anti-ESG , ESG , ETFs , Shareholders Machine-Learning the Skill of Mutual Fund Managers Posted by Ron Kaniel (University of Rochester Simon Business School), on Tuesday, October 31, 2023 Tags: CFNAI , Mutual funds , stock market , US Equity Funds The (..)

Dividends 184

Dividends Equity Marketability 184

Law 360 M&A

MAY 11, 2023

Saudia Aramco is delaying IPO plans for its energy trading unit, e-commerce giant Alibaba is moving forward on spinoff plans for two units, and Facebook owner Meta plans to divest business-software startup Kustomer. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

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Benchmark Report

JUNE 29, 2022

An IPO is an initial public offering (IPO), which is the first limited public stock sale by a private company. IPOs are a strategy often used by smaller businesses to raise capital from public investors in order to facilitate expansion and growth. Once public, the company can be traded on the open market.

Marketability 52

Marketability 52

Harvard Corporate Governance

MARCH 8, 2024

Curtiss, and Ele Klein, Schulte Roth & Zabel LLP, on Tuesday, March 5, 2024 Tags: De-SPACs , Final Rule , IPOs , SEC , SPACs , Special purpose acquisition companies , Underwriting Creditors, Shareholders, and Losers In Between: A Failed Regulatory Experiment Posted by Albert H. Clark, David A.

Banking 100

Banking 100

Benzinga

NOVEMBER 18, 2022

Volkswagen Holding Talks With Investors Ahead Of PowerCo IPO. Volkswagen AG (OTC: VWAGY ) is reportedly discussing with investors to join its battery unit business, PowerCo. The move comes ahead of a possible partial initial public offering (IPO) of the subsidiary.

Finance 98

Finance Marketability 98

Reynolds Holding

JUNE 21, 2023

Since 2000, of the total number of private firms that have gained access to the equity markets for the first time, more have done so through acquisition by another firm (public or private) than through an initial public offering (IPO). While several studies have analyzed and tried to explain this phenomenon (e.g.,

Marketability 59

Marketability Finance Equity Equity Financing 59

Law 360 M&A

JULY 21, 2022

SoftBank is putting off plans for a London IPO of chipmaking business Arm given U.K. political turmoil, Porshe's IPO pitch may not be fully persuading investors, and oil producer ConocoPhillips is eyeing an exit from the Gulf of Mexico. Here, Law360 breaks down the deal rumors from the past week that you need to be aware of.

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Valutico

JANUARY 23, 2023

Weekly Valuation – Valutico | 23 January 2023 Link to valuation Source: WeWork, [link] About WeWork WeWork is a leading provider of co-working spaces for businesses of all sizes, from start-ups to large corporations, with a global presence of over 700 offices in more than 35 countries. by analysts. appeared first on Valutico.

Discounted Cash Flow 52

Discounted Cash Flow Start-ups Market Capitalization Finance 52

Law 360 M&A

JANUARY 18, 2024

Private equity firm PAI Partners could divest from an ice-cream business it currently co-owns with Nestle, the NFL is exploring acquiring an equity stake in ESPN, and Singaporean fashion giant Shein's plans for a blockbuster U.S. IPO could face resistance from Chinese regulators.

Private Equity Firm 40

Private Equity Firm Equity 40

Business Wire M&A

MAY 11, 2023

TORONTO & MIAMI--(BUSINESS WIRE) - $CIX #CIFinancial--CI Financial announces sale of a 20% stake in its U.S. wealth management business to leading institutional investors, raising $1.34

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IVSC

APRIL 12, 2024

Yu Weiping highlighted the conference’s role in presenting the latest research and exploring new business areas within the valuation industry, aiming to support global economic development through enhanced appraisal practices. From left: Ms. Chen Lei, Mr. Tang Zhengqi, Mrs. Rena Lee, Ms.

Intangible Assets 130

Intangible Assets Banking Appraisal Finance 130

Reynolds Holding

MAY 2, 2022

In light of firms shunning the traditional initial public offering (IPO), regulators have made public equity markets more welcoming and attractive relative to private markets, especially for young and high growth firms. IPO process is the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). Our main control group is U.S.

Equity 59

Equity Finance Marketability Technology 59

Reynolds Holding

AUGUST 8, 2022

Investors generally expect companies to make a successful and profitable debut on the stock market with their initial public offering (IPO). billion IPO in 2021, for example, fell by more than 26 percent when launched on the London Stock Exchange, and the price of Uber shares issued in its $75.46 billion IPO in 2019 dropped, 7.6

Finance 59

Finance Marketability 59

Harvard Corporate Governance

APRIL 24, 2023

Fox Distinguished Professor of Business Law at the University of Pennsylvania Carey Law School and Steven Davidoff Solomon is Alexander F. As companies that adopted dual-class stock structures with sunsets at the time of their IPOs age, some sunset mechanisms, particularly term-based sunsets, are beginning to take effect.

Marketability 224

Marketability 224

Financial Times M&A

JUNE 1, 2022

US pharma group to sell down stake in Haleon business that includes Panadol and Sensodyne after July IPO

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