{"id":7619,"date":"2020-02-25T13:36:36","date_gmt":"2020-02-25T13:36:36","guid":{"rendered":"https:\/\/marc.deschenaux.com\/?p=7619"},"modified":"2023-05-14T18:39:25","modified_gmt":"2023-05-14T18:39:25","slug":"fundraising-or-ipo-incubator-a-modern-transaction-financing-tool","status":"publish","type":"post","link":"https:\/\/marc.deschenaux.com\/pt\/articles\/fundraising-or-ipo-incubator-a-modern-transaction-financing-tool\/","title":{"rendered":"FUNDRAISING or IPO INCUBATOR A Modern Transaction Financing Tool"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"7619\" class=\"elementor elementor-7619\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9a270ed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9a270ed\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fdd9dc8\" data-id=\"fdd9dc8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1f5b7b3 elementor-widget elementor-widget-text-editor\" data-id=\"1f5b7b3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Problem\u00e1tico:<\/h2><p><strong>Um problema comum nos neg\u00f3cios \u00e9:<\/strong><\/p><ul><li>do ponto de vista do investidor: como investir por um curto per\u00edodo de tempo e obter um lucro significativo?<\/li><li>do ponto de vista do empres\u00e1rio ou da empresa: como financiar uma grande transa\u00e7\u00e3o e se livrar dos investidores logo em seguida?<\/li><\/ul><p>More often than not, when acquiring or merging, it is possible to use the cash of the target company to pay off investors.<\/p><p>Thus, transaction financing answers both these needs allowing the investor to make a quick profit in case of successful transaction.<\/p><h2>Defini\u00e7\u00e3o<\/h2><p>A Fundraising Incubator is a company financing corporate transactions such as a merger, an acquisition, a securities private placement or an initial public offering (IPO) against an equity participation and a put option on this equity participation to the issuer itself.<\/p><p>The put option, issued by the same issuer as the equity participation, ensures the investor that, in case of success of the transaction, it can resell this participation to the issuer immediately after.<\/p><p>Today, transaction financing is the exclusive privilege of all investment banks who make huge profits therefrom.<\/p><h2>Objection<\/h2><p><strong>One could wonder why not a simple loan?<\/strong><\/p><p>The main reason is that under most jurisdictions, loans are limited to a certain interest rate percentage, called the usury rate, generally less or far less than 25%. In Switzerland, the federal law limits this usury rate at 15% and makes any interest rate set above that limit unlawful and thus, not payable!<\/p><p>Os investidores geralmente desejam um retorno maior sobre seu investimento, pois qualquer investimento de financiamento de transa\u00e7\u00e3o representa um grau significativo de risco, pelo menos do ponto de vista da percep\u00e7\u00e3o do mercado.<\/p><h2>Risk of a Transaction Financing Investment<\/h2><p>O risco associado a um investimento de financiamento de transa\u00e7\u00e3o est\u00e1 diretamente ligado \u00e0 probabilidade de sucesso da transa\u00e7\u00e3o.<\/p><p>Therefore, as a rule of thumb, we can say that the transaction financing investment risk is directly linked to the quality of the agreements binding the parties to the transaction and to these parties\u2019 willingness to execute the transaction properly.<\/p><h2>Rules of Prudence<\/h2><p><strong>As regras b\u00e1sicas de prud\u00eancia em uma opera\u00e7\u00e3o de financiamento de investimento s\u00e3o as seguintes:<\/strong><\/p><ol><li><b>Commitment from both parties.<\/b><br \/>Having a commitment from both parties to the transaction provides the safest conditions to the investment. However, this is rare and mostly impossible. Commonly, a transaction financing agreement is entered into between one party to the transaction and the representative of the investors.<\/li><li><b>Reduzir ao m\u00ednimo o tempo do investimento.<\/b><br \/>Esta regra bastante simples tem muitas implica\u00e7\u00f5es, desde log\u00edstica at\u00e9 condi\u00e7\u00f5es legais. O representante dos investidores, que dever\u00e1 ser financiador ou empres\u00e1rio, mas n\u00e3o procurador, dever\u00e1 depositar os recursos em conta sob seu controle e verificar o consentimento e a vontade das partes em proceder.<\/li><li><b>Legal terms agreed before start.<\/b><br \/>Have all the transaction (key) terms agreed upon before the financing takes place. The investor or his representative must ascertain that the parties are in full agreement on all (key) terms of the transaction.<p>While the parties might not be able to bear the cost of all agreements drafting before the transaction financing takes place, they can surely produce a complete term sheet for each agreement needed for the transaction.<\/p><p>Any party receiving the transaction financing can also take the commitment toward the investor that no other additional or new (key) term shall be required from the other party after the financing takes place, preventing thereby the classic last minute requirement that makes the transaction fail.<\/p><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Problematic: A common problematic in business is: from the investor\u2019s standpoint: how to invest for a short period of time and make a significant profit ? from the entrepreneur\u2019s or the company\u2019s point of view: how to finance a large transaction and get rid of the investors immediately afterwards ? More often than not, when &#8230; <a title=\"FUNDRAISING or IPO INCUBATOR A Modern Transaction Financing Tool\" class=\"read-more\" href=\"https:\/\/marc.deschenaux.com\/pt\/articles\/fundraising-or-ipo-incubator-a-modern-transaction-financing-tool\/\" aria-label=\"Leia mais sobre FUNDRAISING or IPO INCUBATOR A Modern Transaction Financing Tool\">Ler mais<\/a><\/p>","protected":false},"author":1,"featured_media":7686,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":3,"footnotes":""},"categories":[3,49],"tags":[],"class_list":["post-7619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-beginners"],"_links":{"self":[{"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/posts\/7619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/comments?post=7619"}],"version-history":[{"count":0,"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/posts\/7619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/media\/7686"}],"wp:attachment":[{"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/media?parent=7619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/categories?post=7619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marc.deschenaux.com\/pt\/wp-json\/wp\/v2\/tags?post=7619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}