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
Six months after the amendment to the Economic Competition Law took effect, the Competition Authorit...
Read More >
Responding to employees’ disability-based accommodation requests has become second nature for healt...
Read More >
On August 29, 2019, legislators from the Michigan House of Representatives announced an ambitious pa...
Read More >
From September 27, 2019, through October 6, 2019, the International Association of Athletics Federat...
Read More >
One of the ongoing questions from members of Board of Directors is how to resolve the tension betwee...
Read More >
As regular readers of the blog surely are aware, there are few provisions in an LLC or shareholders ...
Read More >