Since the onset of the COVID-19 pandemic and the resulting social distancing guidelines and business shutdowns throughout the U.S., global markets have experienced volatility not seen since the 2008 financial crisis. Beyond the turbulence in public markets, businesses throughout the country and globally are feeling an increasing strain as they grapple with declining revenues, cash flow crunches and, in some cases, the need to increase capital expenditures as work-places implement social distancing practices and/or encourage employees to work from home. As public issuers seek to raise capital to weather the current storm, financial sponsors are increasingly viewing PIPEs as an attractive means to achieve returns in an uncertain environment, and we are seeing a corresponding increase in the number of announced structured equity investments in public issuers. Our Global PE Update summarizes the material terms of PIPEs announced from April through June.
Weil’s Q2 2020 Quarterly Private Equity Update
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