Adjust entry and exit metrics for equity distributions generated from changes in a company debt levels.
Module Category: M&A and Transaction Adjustments
Key Concept: A dividend recapitalization is an equity distribution that is made possible by a company raising additional debt capital. It is the combination of an equity outflow, as described in Module 29, and a debt inflow, as described in Module 32. This module demonstrates how to model its impact on equity value creation.