Ten Talks: New Pathways for Companies Looking for Capital
Recently, the Securities and Exchange Commission filed a complaint against Curt Kramer and three companies owned by Kramer, 1800 Diagonal Lending Company, LLC, Power Up Lending Group, Ltd., and Geneva Roth Remark Holdings,...more
The common understanding of the right to convert debt to equity under a convertible promissory note has shifted following a Nevada county court ruling in Toptal v. Grosz. In the court’s motion granting partial summary...more
As part of our Global PE Trends Webinar Series, Morrison Foerster recently hosted a webinar entitled Structures and Solutions in a Challenging Market, moderated by New York corporate partner Mitchell Presser. The webinar...more
Join our seasoned tax and estate planning attorneys on Wednesday, May 17th in Norfolk for the Williams Mullen Spring Tax Forum. Breakfast will be provided. This program will dig into complex private equity structures, how...more
In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06” or the “ASU”). ASU 2020-06 simplifies an issuer’s accounting for convertible...more
Convertible debt is exceptionally attractive to investors in volatile markets because it offers the security of a bond with the upside of equity. That is why convertible debt was one of the strongest asset classes during the...more
In the decade since the global financial crisis, ship financing has undergone considerable change. Traditionally, debt financing with banks and equity financing were the most common methods used by shipping companies to raise...more
Join us for a webinar series on Investing in University Startup Companies. Topics discussed include legal issues, financial structures and implications. We are grateful for our guest panelists from Activant....more
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
Foreign Investment Reviews of Distressed Assets - As discussed in detail in our previous Client Alert, on February 13, 2020, the Committee on Foreign Investment in the United States (“CFIUS”) issued two Final Rules...more
Welcome to Ten Talks With Gould & Ratner, a new video series of 10-minute conversations with some of our firm's most experienced attorneys, discussing the latest trends they're seeing in a variety of the industries we serve. ...more
Often viewed as a quick interim source of funding until the next round of equity financing, convertible notes have become ubiquitous in Southeast Asia and India for many early-stage and even late-stage companies looking to...more
Congratulations! Your startup has developed a viable product that you are ready to test in the market. But you need some early money to fund this critical phase! Convertible debt can allow a startup to raise money with more...more
The British Business Bank has opened the application process for the Future Fund, a new fund that provides financing to UK start-ups and scale-ups in the form of a convertible loan which is invested directly by the UK...more
The scheme opens on 20 May 2020 and is available on a “first come, first served” basis. On 18 May 2020, the UK government released a draft of its convertible loan note agreement and details of the application process for...more
On 20 April 2020, the UK government (“Government”) announced the Future Fund, providing financing to UK companies (including to start-ups and scale-ups in the technology and life sciences sectors) in the form of a convertible...more
We live in unprecedented times with global lockdowns and the world economy coming to a standstill in a number of sectors and government interventions to protect income, jobs and businesses. A number of start-ups and high...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
The past several years have witnessed the continuing growth of strategic equities as part of corporate finance advisory services for both listed issuers and their controlling shareholders. Strategic equities services offer a...more
Due to their flexibility and reduced complexity compared to fully-fledged equity financings, convertible loans are an important part of a startup's financing tool box. In a nutshell: a convertible loan is generally not meant...more
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
What is a SAFE? SAFE stands for “simple agreement for future equity,” and was created by Y Combinator in 2013 as an alternative to investing via convertible notes. SAFEs are neither equity nor debt – they represent a...more
Private equity and alternate lenders often take a basket of rights when investing in an entity. The basket may include equity, options, warrants and/or debt. In the case of debt financing, lenders often negotiate equity...more
Founders choosing a structure for their business are often drawn to the limited liability company, or LLC, for its overall flexibility in both taxation and governance matters. And founders seeking access to early capital, not...more
In this report, we compile market data on convertible debt terms based on an analysis of over 100 issuer-side convertible debt transactions handled by Fenwick over the 15-month period from Jan. 1, 2017 through March 31, 2018....more