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Optimal Structure Versus What’s Most Likely
Key considerations for directors:
• Make sure the board is apprised of the pros and cons of the most frequently utilized small-cap financing structures.
• When contemplating convertible instruments and warrants, make sure the company’s auditors have relevant experience with unique accounting issues, and involve them in the formative discussions.
• The distinctions between RDs, CMPOs, and follow-ons are critical for boards to master.
• Many small-cap companies can’t avoid issuing warrants, but they can take steps to mitigate the impact of warrants.
• Boards need to consider multiple factors when determining the optimal financing structure. Making the determinations ...