Capital Structure in 5 Minutes
Auto Dealer Valuation Insights
DECEMBER 19, 2023
Family businesses are built on long-term capital investments. Capital structure refers to the mix of debt and equity financing used to make those investments.
Capital Structure Related Topics 
M&A Deal Terms: Average Capital Structure
Exit Strategy
MARCH 31, 2022
The following chart from GF Data shows the average capital structure over the past 5 years for middle market business acquisitions. The post M&A Deal Terms: Average Capital Structure appeared first on Exit Strategies Group, Inc. Overall there was a slight rise during COVID, but nothing major.
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What Is Optimal Capital Structure?
Andrew Stolz
AUGUST 6, 2020
Definition of Optimal Capital Structure. The optimal capital structure of a firm is the right combination of equity and debt financing. It allows the firm to have a minimum cost of capital while having the maximum market value. The lesser the cost of capital, the more the market value of the company.
Decisions, Decisions: 3 Questions to Start Thinking About Capital Structure
Auto Dealer Valuation Insights
OCTOBER 24, 2023
Elevated interest rates and inflationary pressures have squeezed margins and hindered the liquidity of companies paying down debt. Since the pandemic, lenders have observed a shift from cash flow-based loans towards asset-based loans as companies look to recover flexibility in the face of an uncertain economic outlook.
Silicon Valley Bank Demise: Causes and the Path Forward
Harvard Corporate Governance
JANUARY 31, 2024
In this paper we focus on the problems with bank fundamentals, namely, bank governance and bank capital structure, that allowed, or even encouraged, bank managers to ignore the growing mismatch between the assets and liabilities of their banks. more…)
Banking 
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Regulatory Intensity and Firm-Specific Exposure
Harvard Corporate Governance
SEPTEMBER 27, 2023
It triggers heated political debates, and it is also constantly on the minds of business owners, who cite regulation as a major factor that affects capital structure, employment, and innovation. Summary Regulation is a fundamental economic concept. Of course, many studies focus on cost-benefit analyses of specific rules.
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
MARCH 7, 2024
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded common… Source
How the Automated Restructuring of Tokenized Securities Can Lower the Cost of Capital
Reynolds Holding
FEBRUARY 7, 2024
Since it is now possible to administer capital structures on the blockchain, opening them up to smart contract automation has become a reality. The tokenisation of traditional debt and equity securities is an important growth area and promises enhanced liquidity and access to capital for many smaller and medium sized enterprises.
Investment Stewardship Global Principles 2023
Harvard Corporate Governance
JANUARY 13, 2023
Shareholders should be able to vote on key board decisions that are material to the protection of their investment, including but not limited to, changes to the purpose of the business, dilution levels and preemptive rights, and the distribution of income and capital structure.
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
DECEMBER 1, 2023
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded common.
North America Proxy Voting and Engagement Guidelines
Harvard Corporate Governance
MAY 8, 2023
State Street Global Advisors’ Proxy Voting and Engagement Guidelines for North America (United States [“US”] and Canada) address our market-specific approaches to topics including directors and boards, accounting and audit related issues, capital structure, reorganization and mergers, compensation, and other governance-related issues.
EBITDA Adjustments – 5 Of The Most Common Adjustments In Middle Market M&A
Benchmark Report
JULY 21, 2023
EBITDA is used to evaluate a company’s profitability of its core operations by removing items dependent on capital structure, such as interest, Correctly calculating adjusted EBITDA is essential in an M&A transaction, and all parties must be familiar with the adjustments.
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Dealmakers tackle rising rates with pitch to buyers: don’t touch the debt
Financial Times M&A
FEBRUARY 1, 2023
‘Portable capital structures’ avoid need to refinance in tough environment for corporate takeovers
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
AUGUST 25, 2023
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded. An important trend has been the rise of mineral aggregators, which have largely supplanted the trusts as the primary method of publicly traded minerals ownership.
“Dual Class”? How About “Dual Series”?
John Jenkins
DECEMBER 8, 2023
Here’s a post I recently shared on TheCorporateCounsel.net blog: The Goodwin team that represented the issuer in the first IPO by a traditional venture-backed technology company in more than 18 months recently wrote an alert explaining why the company’s high vote/low vote capitalization structure — which is very common in venture-backed technology (..)
Woodbridge International Closes Sale of Structural Building Components LLC to HB Capital
Benzinga
NOVEMBER 3, 2023
03, 2023 (GLOBE NEWSWIRE) -- Woodbridge International, a global mergers and acquisitions firm, is pleased to announce the acquisition of its client, Structural Building Components LLC by HB Capital. Structural Building Components (SBC) is the third largest structural construction company in the state of Florida, specializing in.
Credit Repair Firm PGX Pushes For Ch. 11 Plan Approval
Law 360 M&A
OCTOBER 25, 2023
Bankrupt credit repair firm PGX Holdings asked a Delaware bankruptcy court to confirm its Chapter 11 plan, saying it has the support of the entire capital structure following the sales of its business units.
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
JUNE 23, 2023
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded. An important trend has been the rise of mineral aggregators, which have largely supplanted the trusts as the primary method of publicly traded minerals ownership.
Executive Stock Options and Systemic Risk
Harvard Corporate Governance
JUNE 2, 2022
We expect to find a positive relationship because the highly levered nature of banks’ capital structure should encourage the pursuit of activities that could entail systemic risk. We do so by focusing on bank executives’ equity portfolio (i.e.,
Banking 234
234 Modigliani-Miller Theorem - is it Any Good For Business Valuation?
Equilest
JANUARY 8, 2023
describe the relationship between the capital structure of the firm and its value. . It is often used as a benchmark for evaluating the financial decisions of firms and has been influential in shaping how firms approach financing and capital structure. . . Let's discuss. What is the Modigliani-Miller Theorem?
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
MARCH 10, 2023
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded. An important trend has been the rise of mineral aggregators, which have largely supplanted the trusts as the primary method of publicly traded minerals ownership.
The Art of Balance Sheet Restructuring in Mergers and Acquisitions
Scott Mashuda
JANUARY 9, 2024
Equity Restructuring : Attract new equity partners, like private equity, to optimize capital structure and support growth initiatives. One of the primary objectives of balance sheet restructuring in M&A is to optimize the capital structure of the combined entity.
Weekly Roundup: March 31- April 6, 2023
Harvard Corporate Governance
APRIL 7, 2023
Posted by Ira Kay, Mike Kesner, and Ed Sim, Pay Governance LLC, on Tuesday, April 4, 2023 Tags: Disclosure , Dodd-Frank Act , Pay for performance , Proxy season , PVP Disclosure , SEC enforcement Gender and the Social Structure of Exclusion in U.S.
SEC Finalizes New Clawback Rules
Harvard Corporate Governance
NOVEMBER 15, 2022
– Excludes revisions due to internal reorganizations impacting reportable segment disclosures or changes in capital structure (e.g., . – Excludes “out of period” adjustments (corrections of immaterial errors recorded in the current period). stock splits, stock dividends, etc.). more…).
Barber and Lange Promotions Announced
Auto Dealer Valuation Insights
JANUARY 11, 2023
Zac Barber is a member of the firm’s Financial Reporting Valuation Group and has experience providing valuation analyses related to intangible assets, contractual agreements, and complex capital structures.
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
NOVEMBER 18, 2022
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded. An important trend has been the rise of mineral aggregators, which have largely supplanted the trusts as the primary method of publicly traded minerals ownership.
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
AUGUST 26, 2022
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded. An important trend has been the rise of mineral aggregators, which have largely supplanted the trusts as the primary method of publicly traded minerals ownership.
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
JUNE 3, 2022
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded. An important trend has been the rise of mineral aggregators, which have largely supplanted the trusts as the primary method of publicly traded minerals ownership.
Family Business Director’s Reading Roundup
Auto Dealer Valuation Insights
MARCH 7, 2022
Here at Family Business Director, we are focused on the numbers of family business: measuring and assessing financial performance, establishing dividend policy, setting capital structure, making capital budgeting decisions, and structuring shareholder redemptions.
Mineral Aggregator Valuation Multiples Study Released
Auto Dealer Valuation Insights
MARCH 17, 2022
Due to a variety of corporate structures (including master limited partnerships and Up-Cs) and complex capital structures (including preferred equity and non-traded. An important trend has been the rise of mineral aggregators, which have largely supplanted the trusts as the primary method of publicly traded minerals ownership.
Weekly Roundup: April 29-May 5, 2022
Harvard Corporate Governance
MAY 6, 2022
Tags: Accounting , Agency model , Capital structure , Cash flows , Dual-class stock , Financial reporting , Information environment , Restatements , Shareholder voting.
Weekly Roundup: January 26-February 1, 2024
Harvard Corporate Governance
FEBRUARY 2, 2024
Huber, Latham & Watkins LLP, on Tuesday, January 30, 2024 Tags: enforcement , ESG , Greenwashing , litigation , regulation , Stakeholders , Value chain Accounting Information and Risk Shifting with Asymmetrically Informed Creditors Posted by Tim Baldenius (Columbia University), Mingcherng Deng (City University of New York), and Jing Li (Hong Kong (..)
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EXCLUSIVE: Janus CEO Ramey Jackson Looks Back At First Year As A Public Company
Benzinga
JUNE 6, 2022
Since we went public over a year ago, we've simplified our capital structure, acquired our largest competitor DBCI and purchased a company called Access Control Technologies. When you think about our markets — commercial warehousing in the self-storage space — we have over 50% market share.
What is the Modigliani–Miller Theorem?
Andrew Stolz
AUGUST 6, 2020
The theory suggests that a company’s capital structure and the average cost of capital does not have an impact on its overall value. . It doesn’t matter whether the company raises capital by borrowing money, issuing new shares, or by reinvesting profits in daily operations. Definition of the Modigliani-Miller Theorem.
Weekly Roundup: October 14-20, 2022
Harvard Corporate Governance
OCTOBER 21, 2022
Tags: Capital structure , Carve-outs , Charter & bylaws , Mergers & acquisitions , Shareholder voting , Shareholders agreements.
Weekly Roundup: July 1-7, 2022
Harvard Corporate Governance
JULY 8, 2022
Tags: Bankruptcy , Capital formation , Capital structure , Distressed companies , Hedge funds , Institutional Investors , IPOs , REITs.
Global Investment Manager & Insurance Company: Vote FOR Appraisal
Appraisal Rights
MARCH 26, 2020
When it comes to mergers themselves, the Principal Funds take a case-by-case approach, considering a litany of factors, including “(1) prospects of the combined companies; (2) anticipated financial and operating benefits; (3) offer price; (4) fairness opinion; (5) how the deal was negotiated; (6) changes in corporate governance and their impact on (..)
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Correction: WPF Holdings Completes Acquisition of Vezbi Super App
Benzinga
APRIL 27, 2023
Under the existing capital structure of WPFH, voting control of WPFH remains with the Series A Preferred stock, which carries 51 percent of the total vote of all classes of stock, and the control of which has not changed.
WPF Holdings Completes Acquisition of Vezbi Super App
Benzinga
APRIL 27, 2023
Under the existing capital structure of WPFH, voting control of WPFH remains with the Series A Preferred stock, which carries 51 percent of the total vote of all classes of stock, and the control of which has not changed.
Abri SPAC I, Inc. Announces Completion of Business Combination
Benzinga
NOVEMBER 2, 2023
The ability to list upon a senior stock exchange with a streamlined capital structure and enhanced financial profile was well worth the extended timeline to close the merger," said Mr. Brent Suen, CEO of DLQ, Inc.
Standard BioTools Completes Merger with SomaLogic, Creating a Diversified and Scaled Leader in Life Sciences Tools
Benzinga
JANUARY 5, 2024
Self-funding future growth initiatives through its formidable capital structure comprising over $500 million in cash and cash equivalents. Expediting scale to create an accelerated path to profitability with an estimated $80 million in annual cost synergies to be realized by 2026 [1].
Review the concept of WACC
Andrew Stolz
MARCH 20, 2020
In practice, it is difficult for the firm to maintain its capital structure. It tends to add debt beyond the optimal capital structure. A firm has its ability to control the capital structure policy. With the purpose of the lower cost of capital, a firm probably tends to increase the level of debt.
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Enerflex Ltd. Completes Acquisition of Exterran Corporation, Establishing a Premier Integrated Global Provider of Energy Infrastructure and Energy Transition Solutions
Benzinga
OCTOBER 13, 2022
CAPITAL STRUCTURE. 700 million three-year secured revolving credit facility (the "Revolving Credit Facility"), and cash on hand, to fully repay the existing Enerflex and Exterran notes and revolving credit facilities and put in place a new debt capital structure. times within 12 to 18 months.
Abri SPAC I, Inc. Stockholders Approve Proposed Merger Transaction with DLQ, Inc.
Benzinga
OCTOBER 24, 2023
“Although the process was lengthy, the ability to list upon a senior stock exchange with streamlined capital structure and to enhance our financial profile is worth the extended timeline. We sincerely appreciate the Abri team, our counsel Procopio, and the guidance from Chardan Capital Markets, getting us here,” said Mr.
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