Capital Raising
Structuring investment rounds, information memoranda, financial models for IT companies.
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Working capital adjustments at closing: a hidden lever in IT deals
Working capital adjustments are often overlooked in IT M&A, yet they can materially impact the final transaction value and cash proceeds for shareholders. Understanding and proactively managing these adjustments is…
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Earn-out structures in European SaaS M&A: anticipating post-deal value creation
Earn-out provisions have become markedly more common in European tech/SaaS M&A, driven by the need to bridge valuation gaps in a compressed market. This article dissects their structure, implications for…
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Founder Buyout Structures in European SaaS: When They Make Sense
Private SaaS multiples have compressed materially from their late-2021 peak, reshaping deal structures and making founder buyouts a more relevant option for specific scenarios. This analysis explores the strategic utility…
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Building a Financial Model Investors Will Believe
A credible financial model is not merely a forecast; it is a strategic narrative grounded in verifiable assumptions. This article details how shareholders can construct models that withstand investor scrutiny…
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Why SaaS ARR Multiples Are Diverging From EBITDA Multiples in 2026
The SaaS market is experiencing a notable divergence between ARR and EBITDA multiples, driven by shifts in capital allocation and investor focus on sustainable growth. This trend necessitates a refined…
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