Preserving Deferred Tax Assets in a Capital Raise
For any founder, whether a first-timer or a serial entrepreneur, it’s an exciting moment when you receive a term sheet from a venture capital fund for your company’s first preferred stock financing round. Excitement aside,...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
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
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
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
This year is primed to be the cannabis industry’s biggest yet. Almost $3 billion of capital was raised in the first quarter of 2018, more than four times the amount raised in the first quarter of 2017. With the increase in...more
Will Bernat, a partner in Nutter’s Business Department and a member of the firm’s Emerging Companies and Commercial Finance practice groups, weighed in on financing deals for food and beverage companies in Nutter Insights....more
After years of increasing acceptance of and reliance on convertible note financings as a mechanism for funding early-stage companies, we have noted a clear emerging trend away from such transactions (and others like them,...more
A key milestone in the lifecycle of many successful companies (and, admittedly, many unsuccessful companies) is obtaining financing from angel or venture capital investors, but in negotiating with experienced investors...more
In this final installment of our series on seed instruments, we explore the Simple Agreement for Future Equity. Startup accelerator Y Combinator (YC) introduced a new seed-stage investing tool, safe—an acronym for...more