Le Lézard
Classified in: Business
Subjects: PDT, ACC

Parallaxes Capital Management Highlights Previously Terminated TRA of a Leading Agriculture Technology Company


NEW YORK, Nov. 1, 2022 /PRNewswire/ -- Parallaxes Capital Management ("Parallaxes") is an alternative asset manager and, since 2017, has raised four funds dedicated to Tax Receivable Agreements ("TRAs"). As the market leader in monetizing TRAs, Parallaxes is dedicated to increasing the visibility and transparency of TRAs which remain an often overlooked and misunderstood asset class. In the vein of creating greater visibility into the TRA ecosystem, Parallaxes is pleased to highlight a notable development in the market as AgroFresh Solutions Inc. ("AgroFresh") previously terminated its TRA.

AgroFresh disclosed that it paid $16 million to its TRA holder to terminate its TRA liability. The AgroFresh TRA provided for the payment of 50% of the tax savings realized from certain tax attributes, including the increase in tax basis obtained in connection with the previous acquisition of AgroFresh by The Dow Chemical Company.

Parallaxes views TRAs, including the AgroFresh TRA, as a valuable tool to reduce certain moral hazard problems and informational asymmetry inherent in a company's public offering. TRAs help ensure that pre-IPO owners are economically aligned with new public shareholders and incentivize pre-IPO owners to pursue an IPO structure that provides the company with ongoing tax benefits. Parallaxes anticipates enhanced awareness and understanding of TRAs will drive increased market adoption.

About Parallaxes Capital

Parallaxes Capital Management ("Parallaxes") is the premier investment firm focused exclusively on monetizing Tax Receivable Agreements ("TRAs"). Parallaxes offers private equity sponsors, co-investors and management team members solutions to achieve liquidity, diversification and optionality from their TRAs. Parallaxes was founded in 2017 and is comprised of experienced investment professionals from leading private equity and growth equity firms. To learn more, please visit www.plxcap.com

Disclosures

This press release should not be regarded as representative of an official position or statement of Parallaxes or any related entity.

SOURCE Parallaxes Capital


These press releases may also interest you

at 22:00
Metro Vancouver Properties Corp. announces completion of going private transaction
Metro Vancouver Properties Corp. ("Metro Vancouver"), a Vancouver-based real estate company announces that it has completed its previously announced going private transaction (the "Transaction") by way of a share consolidation. Under the share...

at 21:45
Gritstone bio, Inc. Sued for Securities Law Violations - Contact The Rosen Law Firm Before August 6, 2024 to Discuss Your Rights - GRTS
Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Gritstone bio, Inc. between March 9, 2023 and February 29, 2024, both dates inclusive (the "Class Period"), of the important August 6, 2024 lead plaintiff...

at 21:32
Advantex Announces Appointment of New Chief Financial Officer
Advantex Marketing International Inc. ("Advantex"), a leader in the merchant cash advance and loyalty marketing products for merchants, announced the appointment of Santhosh Kumar as its new Chief Financial Officer, effective June 24, 2024....

at 21:01
TSX Venture Exchange Stock Maintenance Bulletins
TSX VENTURE COMPANIES BULLETIN V2024-2028 BLACKWOLF COPPER AND GOLD LTD. ("BWCG")BULLETIN TYPE:  Plan of Arrangement, Shares for Bonuses, Property-Asset or Share Purchase Agreement, DelistBULLETIN DATE:  July 3, 2024TSX Venture Tier 2 Company Plan of...

at 20:55
Intermap Announces Private Placement Financing
Intermap Technologies ("Intermap" or the "Company"), a global leader in 3D geospatial products and intelligence solutions, announces a new financing. The Company is offering up to a maximum of 4,300,000 Class "A" common shares of the Company...

at 20:38
DAISO NEW STORE OPENING IN HILLSBORO, OREGON
Daiso, the renowned global retail chain offering a wide range of affordable and unique products, is thrilled to announce the grand opening of its first Oregon store at Sunset Esplanade in Hillsboro, Oregon on July 20th. "We are thrilled to open our...

More news about Business...


News published on and distributed by: