Latest / The Startup Exit Podcast with Fexingo: IPOs, Acquisitions, and Founder Liquidity Events
How Founders Use Contingent Value Rights to Bridge Acquisition Gaps
Contingent value rights (CVRs) are an underused tool that lets founders bridge valuation gaps when selling their company. Unlike earnouts, CVRs are tradable securities tied to specific milestones like FDA approvals or revenue targets. This episode explains how CVRs work, why they're gaining traction in a choppy M&A market, and what founders should negotiate before signing. We contrast CVRs with classic earnouts using real biopharma examples, and discuss why buyers like NVIDIA and Coinbase are increasingly open to them. Lucas and Luna also explore recent headlines: Monday.com layoffs…
The skinny
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