contingent value right, Also known as CVR.
A right given to stockholders of a public target company that entitles them to additional consideration, either in the form of cash or stock (or a combination of both), upon the satisfaction of certain milestones. These milestones can be based on certain events (such as the receipt of FDA approval for a new drug) or linked to the target company's performance over a certain period of time.
A CVR is similar to an earn-out. It provides a way for the buyer and seller to bridge valuation gaps. CVRs are more common in pharmaceutical and biotech M&A transactions.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Поможем решить контрольную работу

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