Headline value is not closing cash

Enterprise value addresses the operating business across its capital sources; equity value is the amount attributable to owners after the applicable cash, debt, and other agreed adjustments. Cash at closing can differ again because working capital, expenses, escrow, and deferred consideration may sit in the payment bridge. The labels do not determine a company's value, agreement terms, taxes, or eventual proceeds. Start by giving every line one definition, source record, measurement time, and owner. Separate enterprise value, equity purchase price, and cash at closing with a line-by-line bridge, defined terms, source records, and a…