[doctor_eval]

Well, selling a business includes the parties signing a number of written contracts and agreements which, in theory, should persist beyond completion. So it’s really not as simple as you say, and certainly not just a simple case of looking at the cap table.

[grepfru_it]

When someone is handing you gobs of money they will very likely strike out terms which limit their control. It’s like why you wouldn’t accept a car loan with an early payment penalty unless the terms were excessively good for you

You have a board of directors, you are at their mercy.. not the other way around.