Purchase Price
Short definition
Purchase price is the equity amount paid for the shares. It is derived from headline EV via net debt, NWC and other adjustments; that is the cash that leaves at close (except earn-out).
Detailed explanation
A locked box puts leakage after the locked date on the seller. Completion accounts adjust to a closing balance sheet. They carry different cash uncertainty.
An earn-out defers part of the price. The bridge shows which line the price came from.
Why it matters for the CFO
The wrong debt definition causes overpayment more often than a 1-unit EV miss. A price report makes that bridge auditable.
How it is calculated
Özkaynak bedeli ≈ EV − net borç ± NWC sapması ± diğer kilitler
EV is locked, then net debt and NWC are taken off or added on the contract definition. A cash target can be a separate lock.
Variables in the formula
- EV: enterprise value
How to read it
EV/EBITDA is not “the price”; the equity cheque is cash after net debt. Currency and the locked FX rate move the cash amount.
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What to learn next
Definitions are educational. They are not investment, credit or tax advice.