Private Equity

Exit Strategy Deployment

Get the support you need to accomplish exit strategies that deliver optimal results during an initial public offering (IPO), bankruptcy filing, company restructuring or sale of your portfolio company.
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IPO/SPAC Preparation & Coordination

Opportune is typically engaged at the same time a company chooses its lead underwriter and securities counsel. We assist management in understanding the registration statement reporting requirements and all available choices in complying with those requirements. Opportune is nimble in its ability to supplement the client’s existing resources or bring in an entire team to lead an IPO. Example registration statement–related services include, but are not limited to:

  • Forecast cash flow and earnings models to assist in determining monetization strategies
  • Apply S-X 3-05 to identify significant acquisitions and filing requirements
  • Draft predecessor financial statement, footnote and MD&A sections
  • Prepare carve-out financials and footnotes
  • Prepare pro forma financials and footnotes
  • Draft tax provisions

Carve-Out Financial Statements

  • Identification of the carve-out entity and operations
  • Inclusion of assets and liabilities, including derivatives and pushdown of debt
  • Allocation of income and expenses, such as share-based compensation, derivatives and income taxes
  • Impairment analyses

Common Control Mergers (Smashco)

Opportune is the leading professional advisor across all sectors to private equity companies.

Unmatched Experience

  • Proven Smashco experience across multiple sectors
  • Representative capital markets experience includes:
    • 10+ Reverse Mergers
    • 10 Completed Up-C Transactions (4 Confidential)
    • 20+ Completed and Currently Active IPOs

Team Approach

  • Our Tax, Valuation, FP&A and Technology capabilities enhance our capital markets reporting services.
  • Projects led by teams dedicated to financial reporting matters.
  • Unlike contractors, Opportune professionals only charge the time needed on tasks assigned based on their unique expertise.

Advocates For Our Clients

  • No company conflicts resulting from attest services
  • We work with and subscribe to the databases of every Big 4 firm
  • Our advice isn’t dependent on the views of a single national office

Private Equity in Practice

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Strategic Private Equity Merger Realizes High-Growth Potential via Independent Fairness Opinion
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Strategic Private Equity Merger Realizes High-Growth Potential via Independent Fairness Opinion

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FAQs

Preparing for a public listing or strategic sale requires drafting audited SEC-compliant financial statements (Form S-1 or S-4), footnote disclosures, pro forma financial statements, carve-out accounting for divested business units, and Management's Discussion & Analysis (MD&A) sections.

A "Smashco" transaction combines multiple private equity portfolio companies or operating entities under common control prior to an IPO, SPAC combination, or sale. Advisors manage complex multi-entity carve-outs, audit history consolidations, debt pushdowns, and Up-C structure setups to create a cohesive public-ready entity.

Rule 3-05 mandates that public entities or companies filing for an IPO present separate historical financial statements for significant acquired businesses. Pre-exit teams run significance tests, prepare predecessor financial statements, and draft required pro forma financials to meet SEC registration guidelines without delaying execution windows.