28Aug
Debt-Free Deals with "Free Debt" – Practical Solutions for Sellers with PPP Loans in M&A
The majority of middle-market M&A has followed a similar structure for quite some time: while ensuring normalized working capital, the seller sweeps “Cash” and pays off all “Debt” at closing. The nuance, of course, lies in the definitions of “Cash” and “Debt.” “Cash” is usually a straightforward definition and excludes restricted cash, as well as checks and wires in transit. On the other hand, the definition of “Debt” usually takes up one-half to three-quarters of a page and, with limited...
By:
Holland & Hart LLP
Related
In 2019, as in previous years, most of the new labor and employment law legislation was enacted at t...
Read More >
Representation and warranty insurance has changed the M&A market. The popularity of reps and warrant...
Read More >
Neither rain nor sleet nor quarantine restrictions stop bid protests or our monthly roundup. Thus f...
Read More >
Have you updated your Workplace Safety and Health Program to identify and address the new hazards CO...
Read More >
On Friday, Governor Pritzker issued Executive Order 2020-15 allowing school districts to communicate...
Read More >
Dear YouDig?, Ok… this is getting ridiculous. We are a subcontractor working on a project for an “...
Read More >