Teaser

Quick and anonymous presentation of a company or a project in order to draw appetite of potential investors.

Underwriting

Underwriting is the act when a financial operator (equity investor or bank) guarantees alone the full amount of financing needed for a transaction. The operator then has the possibility to syndicate 100% of the amount or keep some of it for itself.

Vendor loan

Portion of the price paid to the seller after closing and which serves as a counter-guarantee to the reps and warranties.

Venture capital

Equity investment in projects or companies with high potential growth and profitability, usually with a technological or innovative concept. A few years ago, venture capital investors have distinguished themselves by investing massively in Internet-related projects.

Warrants

Warrants give the right to buy shares of a company at a pre-determined price (the exercise price or strike price) until a pre-determined exercise date. They are generally issued at the moment of bonds or shares issuances. In French, one talk of O.B.S.A. (Obligations à Bons de Souscription d'Actions), or A.B.S.A., (Action à Bons de Souscription d'Actions).