medium · Private Equity & LBOs
A mezzanine lender receives warrants for 5% of a company's equity as part of a financing package. At exit, the company's Enterprise Value is $600M, and it has $200M in net debt.
What is the value of the 'Equity Kicker' to the lender?
- 40M
- 20M
- 10M
- 30M
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