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Latham & Watkins LLP

Demystifying Modern Convertible Notes - April 2024 - Revised Edition

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Issuing convertible notes has long been an attractive capital-raising option for public companies. At its most basic essence, a convertible note is a debt instrument that pays interest and principal, but also carries the...more

Latham & Watkins LLP

Avoiding Misadventures in Venture: Considerations for European Corporates

Latham & Watkins LLP on

European corporate venture capital teams should reflect on their rights in light of falling valuations, revised exit expectations, and other challenges. This year has been challenging for venture capital (VC). Valuations...more

Latham & Watkins LLP

Non-Plain Vanilla Questions About Taxation of Plain Vanilla Convertible Debt

Latham & Watkins LLP on

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

Goodwin

Delaware Court of Chancery Finds that Director’s Email on Outside Email System Remains Confidential

Goodwin on

Delaware Court of Chancery Finds that Director’s Email on Outside Email System Remains Confidential; Delaware Supreme Court Overrules Longstanding Precedent Regarding Derivative Versus Direct Standing; SEC Files Crowdfunding...more

Skadden, Arps, Slate, Meagher & Flom LLP

Valuation Challenges for Fintechs Highlight Legal Considerations in ‘Down Rounds’

Skadden, Arps, Slate, Meagher & Flom LLP on

In recent years, fintech has been an attractive sector for growth capital, as evidenced by robust investment and M&A valuations in the sector. While interest remained high in 2019, deal volumes began to level off early in the...more

Winstead PC

Buyer Beware: Top 10 Private Company Investor Checklist

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The private company marketplace has become increasingly attractive to investors as the number of opportunities for investment has vastly expanded. There are approximately 6 million companies in the US, but less than 1% are...more

Farrell Fritz, P.C.

WeWork, SoftBank and Anti-Dilution Protection

Farrell Fritz, P.C. on

The corporate spectacle better known as The We Company IPO officially and mercifully came to an end September 30 when The We Company (“We Co.”), the corporate parent of WeWork, requested that the Securities and Exchange...more

Morrison & Foerster LLP - JOBS Act

Late-Stage Private Placements: A Life Sciences Sector Survey

Morrison & Foerster LLP - JOBS Act on

As privately held companies choose to remain private longer and defer their initial public offerings (IPOs), these companies are increasingly reliant on raising capital in successive private placements. New categories of...more

Foley & Lardner LLP

Term Sheet Math — When Is Your 66 Percent Really 52 Percent?

Foley & Lardner LLP on

When negotiating valuation for a financing, an investor may conduct detailed due diligence and present you with a term sheet that reflects multiples, discounts, comparables, and so forth. In the end, you are negotiating for...more

Winstead PC

Anti-Dilution Provisions – A New Twist

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We are all familiar with the modified ratchet and full ratchet anti-dilution provisions that relate to subsequent down rounds in the financing of start-up and emerging growth companies. A new twist on anti-dilution...more

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