Search Fund Jargon Translator

Clear, plain-English definitions of ETA and dealmaking terms, with practical notes and examples.

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Letter of Intent (LOI)

A non-binding document that outlines the preliminary terms of an acquisition agreement between a buyer and a seller.

Leverage Ratio

A ratio that measures a company's total debt relative to its EBITDA. It is a key indicator of a company's ability to pay off its debt.
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