BUSINESS

FINANCE
TIM R SAMPLES
LEGL 2700

Email: tsamples@uga.edu
Twi3er: @5mrsamples

#LEGL2700

OVERVIEW: GOALS OF THE DAY

BUSINESS FINANCE

DEBT VERSUS EQUITY

STAGES OF BUSINESS FINANCE
EQUITY FINANCE
DEBT FINANCE: LOANS, BONDS, AND MORE
APPLICATION & PRACTICE

STAGES OF BUSINESS FINANCE

RAISING CAPITAL

ANGEL INVESTORS
VENTURE CAPITAL
PRIVATE DEBT AND EQUITY MARKETS
IPOS AND CAPITAL MARKETS

THE NATURE OF EQUITY

BUSINESS FINANCE

EQUITY BASICS
SHARES, STOCK, PARTNERSHIP AND
MEMBERSHIP INTERESTS

LEGAL RIGHTS AND RISKS

BANKRUPTCY / INSOLVENCY

THE NATURE OF DEBT

BUSINESS FINANCE

DEBT BASICS
LOANS, BONDS, DEBENTURES, NOTES,
BILLS, ETC.

LEGAL RIGHTS AND RISKS

BANKRUPTCY / INSOLVENCY

DEBT VERSUS EQUITY

Credit Markets

Capital Markets

Retain Ownership

Sell ownership

Interest Payments versus DiluNng Equity

Cost of Capital
Security / Collateral / Guarantees
Covenants versus DuNes / VoNng
Term
Cash Flow
Tax
Industry ConsideraNons
&
Business ConsideraNons

DEBT FINANCING: LOANS AND BONDS

BUSINESS FINANCE

PRIORITY AND BANKRUPTCY

BUSINESS FINANCE

SECURED CREDITORS
PRIORITY OF LIENS

UNSECURED CREDITORS
SENIOR OR SUBORDINATED

SHAREHOLDERS/EQUITY
PREFERRED OR COMMON