The Court of Chancery, in William Richard Kruse v. Synapse Wireless, Inc., C.A. No. 12392-VCS, memo. op. (Del. Ch. July 14, 2020), determined the fair value of a private company in an appraisal proceeding following a squeeze-out merger, based on a discounted cash flow model with limited adjustments, finding no reliable market-based indicators of value.

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Morris James discusses the decision in Chancery Values Non-Public Company with No Reliable Market-Based Data Using Discounted Cash Flow Analysis. discusses the decision in Appraisal: Chancery Applies DCF to Determine Squeeze-Out Fair Value.

$$$ Law360 discusses the decision in Wireless Tech Co. Synapse’s Stock Priced In Chancery Court.