Scott Edward Walker

DECEMBER 13, 2018

We had a busy 2018, including closing several significant M&A transactions and financings. The purpose of this post is briefly (i) to provide an overview of acquihires and (ii) to discuss the significant legal issues that founders must address. How is the Deal Structured? What Legal Documents are Utilized?

Founder 45

Founder Merger IP Liquidation Preference 45

Gust

OCTOBER 5, 2011

Last week , we gave some attention to the “why” behind convertible note financing for early stage startups. In this installment, I’ll dig into the “how” by dissecting an example term sheet based on a real deal. As with so many subjects in law and finance, mastering the jargon is half the battle.

Finance 79

Finance Preferred Stock Term Sheet Early Stage 79

Gust

OCTOBER 21, 2011

To account for scenarios in which the startup is acquired before it has a chance to complete a priced equity financing round, most term sheets and deal documents contain a “ change in control ” provision. In descending order of preference from the founders’ point of view: 1.

Finance 79

Finance Pre-Money Valuation Term Sheet Liquidity Event 79

Scott Edward Walker

FEBRUARY 9, 2020

I’ve been doing M&A transactions for 25+ years (including nearly eight years at two major New York City law firms), and I wanted to briefly discuss an important issue for founders interested in selling their company: the distinction between strategic and financial buyers. How Is the Deal Structure Different with a Financial Buyer?

Private Equity 59

Private Equity New York City Equity Deal Structure 59

K9 Ventures

OCTOBER 10, 2017

I’ll start with all the questions I can think of, from many different perspectives: founders, LPs, the press, and even other VCs. This post is intended to be a dynamic document, and I will attempt to update it from time to time with new questions that may arise or as financing trends evolve. Q: Is Pre-Seed a Thing?

Seed Stage 82

Seed Stage Finance Later Stage Equity 82

Gust

OCTOBER 26, 2011

As we conclude our convertible note financing series, there are assorted terms commonly seen in term sheets and deal documents that are worth touching on briefly. Having made it almost to the end of our sample term sheet: Documentation. What seem like boilerplate provisions can be meaningful in some situations.

Finance 79

Finance Term Sheet Covenant Accredited Investor 79