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Jason Wilhite
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13 min · October 12, 2026

The Deal That Died on the Cap Table

Jason walks Marcus through the due-diligence checklist he actually uses before buying a company — and the boring line items that have saved him seven figures.

Jason: —so we're three weeks into diligence on this solar installer, right, everything looks clean, revenue's growing, the founder's a good dude. And then my CFO pulls the cap table and there's a name on it nobody mentioned. Like a 9% holder. Just sitting there.

Marcus: Wait, a 9% holder the founder didn't tell you about?…

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