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Founders often chase the headline valuation, but the real story is in the structure. Cash at closing, earnouts, equity rollovers, and seller notes can dramatically change the outcome.
A deal at $20M with $12M cash + $8M contingent isn’t the same as $18M all cash.
The right answer? It depends. Clear goals and smart negotiation make all the difference.
By Kirk MichieFounders often chase the headline valuation, but the real story is in the structure. Cash at closing, earnouts, equity rollovers, and seller notes can dramatically change the outcome.
A deal at $20M with $12M cash + $8M contingent isn’t the same as $18M all cash.
The right answer? It depends. Clear goals and smart negotiation make all the difference.