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Lucosky Brookman is a leader in the representation of small and micro-cap companies. The Firm has led it clients through numerous capital raise transaction and over a dozen uplisting and initial public offering transactions.  Access the latest news about Lucosky Brookman, our clients’ business transactions and industry updates here. 

Firm Successfully Represents Private Equity Fund Client in the Purchase and Sale of Aerospace Company for $12.5 Million

The Firm announces that it has successfully represented its client, a London-based private equity fund (the "Fund"), in the purchase and sale of a California-based aerospace company for $12.5 million.    

The Fund sold 100% of its  preferred and common membership units in exchange for a $2 million cash payment and a promissory note for $8.5 million, as well as a profit-sharing percentage, dependent on the company exceeding agreed-upon performance projections during an eight year period.  The Fund utilized its Secured Redeemable Preference shares as the security for the $2 million cash payment. These shares carry a 12% dividend and a 12% redemption premium.  The promissory note is to be paid over the same eight years as the potential profit sharing, which will be based on the company exceeding annual targeted EBITDA . 

The Firm served as lead counsel and prepared all transaction documents, including, but not limited to, a Membership Interest Purchase Agreement, an Amended and Restated Limited Liability Company Agreement, a Secured Promissory Note, and multiple Security Agreements.