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LBO Enhancements - IRR
Questions/Discussions
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Complex LBO Modeling Enhancements - Mezzanine / Warrant Holder Investment Return (with PIK and Warrants)
I am confused by your comment re: "if warrants are converted..."
==> Does it mean that If conversion right is exercised and warrants are converted to equity interest based upon the conversion ratio, my Total Equity Interest will then be = (1) % of equity due to warrants conversion to equity inte...
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LBO Modeling Enhancements - Dividend Capture for IRR
Hi - I noticed that Row 55 (Common Dividends Received) in the IRR tab was designed to capture dividends into the IRR calculation. However the way the LBO Summary Sheet is set up, I don't see how any dividends can actually flow into this model when the basic outstanding shares are blown away in Row 4...
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Did you mean ==> if the warrants conversion right is exercised, then the annual Cash Flow prior to the Exit Year will be = Common Dividends Received * E102 (Equity due to Warrants) + Mezzanine Notes - Cash Interest; and
==> Exit Year Cash Flow = Implied Equity Value * E102 (Equity due to Warrants) + Cash Dividends received * E102 + Mezzanine Notes - Cash Interest.
Thx.
Peter Read More