Cities, public health, and climate change are inextricably connected—and addressing their challenges requires a similarly integrated approach. It’s a monumental task, but it’s also one that tech is uniquely positioned to...more
There a lot of matters to consider when a European company decides it wants to open operations in the U.S., and one common structure for doing so is anecdotally known as a “flip”—inserting a U.S. corporation above a European...more
4/6/2021
/ Corporate Structures ,
Early Stage Companies ,
Emerging Growth Companies ,
EU ,
Flip Transactions ,
Incentive Compensation ,
Investment ,
Investors ,
Shareholders ,
Startups ,
Stock Options ,
United States ,
Venture Capital
The convertible debt market has remained remarkably stable over the last 15 months, despite considerable economic uncertainty related to the COVID-19 pandemic. Fenwick’s latest Convertible Debt Terms – Survey of Market Trends...more
Let’s start with a hypothetical: Tough Times, Inc. is in the market for another round of financing. By “in the market,” we mean they have spoken to dozens of ventures funds, have had first meetings with many and second...more
On March 27, 2020, Congress passed, and the President has signed into law?, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act includes relief to small businesses across the country in the form of...more
We receive many questions from founders, investors and others about CFIUS, the Committee on Foreign Investment in the United States. This is not surprising given the amount of recent media and news coverage around foreign...more
In 2019, we published analysis to help tech and life sciences companies navigate U.S. tax law changes, an evolving IP landscape and new privacy regulations such as the California Consumer Privacy Act. We also tracked venture...more
1/8/2020
/ ABC Test ,
California Consumer Privacy Act (CCPA) ,
Consumer Privacy Rights ,
Convertible Debt ,
Corporate Governance ,
Data Privacy ,
Debt Financing ,
Direct Listing ,
Diversity ,
Emerging Technology Companies ,
Employer Liability Issues ,
Foreign Tax Credits ,
Hiring & Firing ,
Independent Contractors ,
Intellectual Property Litigation ,
Intellectual Property Protection ,
Internal Revenue Code (IRC) ,
IRS ,
Life Sciences ,
Misclassification ,
New Guidance ,
Pharmaceutical Industry ,
Privacy Laws ,
Proposed Regulation ,
Proxy Season ,
Silicon Valley ,
Startups ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Venture Capital ,
Withholding Tax ,
Woman Board Members
We receive many questions from founders, investors and others about qualified small business stock. And it’s no wonder, given the complexity of the concept. In this article, we provide a high-level overview of QSBS. A...more
In the past few years promissory notes and SAFEs have become an increasingly popular way to fund early-stage companies. Fenwick completes hundreds of these types of financings for its clients each year and we recently...more
9/26/2019
/ Business Development ,
Business Ownership ,
Business Valuations ,
Convertible Notes ,
Early Stage Companies ,
Entrepreneurs ,
Investors ,
Liquidation ,
Preferred Stock Financing ,
Promissory Notes ,
Securities Funding ,
Startups
In this report, we compile market data on convertible debt terms based on an analysis of over 100 issuer-side convertible debt transactions deals handled by Fenwick over the 15-month period from January 1, 2018 to March 31,...more
6/27/2019
/ Business Valuations ,
Change of Control ,
Common Stock ,
Conversion ,
Convertible Debt ,
Debt ,
Debt Financing ,
Discounted Cash Flow Valuations ,
Financial Services Industry ,
Investors ,
Noteholders ,
Preferred Stock Financing ,
Startups