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
Source Url: https://www.jdsupra.com/legalnews/debt-free-deals-with-free-debt-46193/
Related
On October 7, 2020, the US Securities and Exchange Commission (“SEC”) adopted a new rule under the...
Read More >
On August 9, 2019, the D.C. Office of Employment Services (DOES) took another step toward full imple...
Read More >
The Illinois Supreme Court’s recent decision in Restore Construction Company v. Board of Education ...
Read More >
Just before the holiday season, the National Labor Relations Board (“NLRB” or “Board”) provided ...
Read More >
Citing the high burden on employers and the unproven usefulness of the program, the EEOC announced y...
Read More >
As a result of recent federal litigation, the Equal Employment Opportunity Commission (“EEOC”) has...
Read More >