Venture Deals · glossary
A buyer gaining more than half the votes, or the business being sold. Before conversion, Solaris’s notes became repayable at twice the money lent on a change of control. A customer contract may define it differently, so check each one. Chapter 4
Explained in Chapter 4, Convertible Loan Notes, of Venture Deals.
The main page for this term is Change of control, in M&A Foundations.
A change of control here means someone gains a majority of the votes, or the business is sold. Each note is then repaid at twice its principal, so €800,000 becomes €1,600,000. The rolled-up interest is added, because it is cancelled only on a conversion.Read Chapter 4, Convertible Loan Notes →
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Venture Deals and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
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This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Venture Deals → · All terms A–Z →