Part of the price only shows up later

In private equity, part of a company's price can arrive years after the deal. It's called an earn-out. Say a buyer pays eighty million for a company. There's up to twenty million more if revenue hits an agreed level. Two years later, they check. Hit the target, and the extra money is paid. So why do investors care? It bridges what a seller wants and what a buyer will risk. It's also a common source of later disputes. The headline price isn't always the price paid.