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SaaS M&A Snapshot: Target Market & Buyers

Software Equity Group

The SEG Index, a collection of 116 public SaaS companies, fell by 48.2%. After the unprecedented market highs of 2020 into 2021, it’s natural for founders in this environment to wonder if they’ve missed the boat. Median EV/TTM Revenue Multiple Down from 2021’s high of 7.3x, 2022’s median EV/Revenue multiple of 5.6x

M&A 52
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Public SaaS Company Valuations and What They Mean for Private Companies

Software Equity Group

Public SaaS companies enjoyed an unprecedented run from 2009 through 2021, but last year brought a wave of macroeconomic uncertainty, including rising interest rates, record inflation, supply chain problems, and geopolitical unrest. from 2021 by the end of the year. What is the SEG Index?

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Private Equity’s Increasing Consolidation of Oncology Practices 

Focus Investment Banking

A big part of oncology is buying and billing chemotherapy, and we're able to improve their economics there substantially with national buying power,” Patton told OBR. Formerly owned by Tahoe Investment Group, which bought the company in April 2017, Alliance was acquired by Akumin, a publicly traded company, in June 2021 for $820 million.

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Cooley’s 2022 Life Sciences M&A Year in Review

Cooley M&A

Although 2022 saw a general decline in M&A activity in the life sciences industry compared to 2021’s frenetic pace (when deal volume was up 52% from 2020 ), life sciences deal flow in 2022 on balance remained strong despite the headwinds. Let’s dig in.

M&A 40
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SEC Evaluation of Swap Disclosures Misguided

The Deal

The Paul Singer-led activist fund reported a 13% economic exposure to NRG Energy Inc. The memorandum noted that at most seven activist investors held gross positions of greater than $300 million — one of the proposal’s disclosure thresholds — on any given day during a yearlong sample period between 2021 and 2022.

Funds 52
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Funding M&A Deals with Bitcoin

Deal Law Wire

The recent economic volatility has also seen an increase in the use of alternatives to one-time cash purchases in the context of M&A deals , including earnouts and working capital adjustments. As of February 11, 2021, the OSC gave the green light for the first publicly traded bitcoin exchange-traded funds in North America.

M&A 40
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Transfer Traps: Considerations for Dual-Class Companies Contemplating M&A Transactions

Cooley M&A

In addition, currently public dual-class companies with transfer provisions that do not contain clear carve outs for the delivery of voting agreements in the M&A context should discuss with their advisers the possibility of adopting “clear day” amendments to their charters to include these carve outs.

M&A 59