Distressed de-SPACed companies are increasingly turning to chapter 11 as a means of restructuring their debts and preserving going-concern value.
Many de-SPAC mergers in 2020 and 2021 involved pre-revenue or...more
7/25/2023
/ Bankruptcy Code ,
Business Plans ,
Chapter 11 ,
Coronavirus/COVID-19 ,
Corporate Restructuring ,
Interest Rates ,
Investors ,
Liquidity ,
Private Equity ,
Shareholders ,
Special Purpose Acquisition Companies (SPACs)
Recent Delaware cases have clarified that minority stockholders merely rolling over shares alongside an independent and unrelated controlling stockholder do not form a control group in most cases—the controlling stockholder...more
As venture-backed companies increasingly face the prospect of a down round, directors, management and controlling shareholders must understand the lurking liabilities and follow appropriate procedures.
Corporate boards...more
COVID-19 has brought back financing terms not seen in the VC market since the last financial crisis.
As valuations of public company comparables crumble and VCs engage in stricter price discipline, start-ups able to raise...more
Directors managing the impact of the COVID-19 pandemic on the business must remember their fiduciary duties as they consider potential actions and approaches, including M&A and interested party transactions, and should...more
Guidance on eligibility for small business loans under the CARES Act.
Companies that have investments from venture capital (VC) and/or private equity (PE) funds, or that have raised funds under similar terms from corporate...more
Thinking through the impact of coronavirus (COVID-19) on M&A and deal terms.
COVID-19 may cause buyers and sellers to reassess valuations, adjust pricing mechanisms and implement new methodologies for interim operations...more